Modern Wealth Management has acquired a Florida-based registered investment advisory firm, formally marking its entry into the Sunshine State’s market. Plantation, FL-based Legacy Wealth Management, led by Tony DuBose and Joel Palatnik, oversees about $1.2 billion in total client assets and $300 million in retirement plan advisory assets. The firm offers financial planning, investment management, estate and tax planning, and retirement planning to ultra-high-net-worth clients, including pilots, professional guardians, and trustees. The acquisition marks Modern Wealth’s first office in Florida and its 20th acquisition in total. Following the acquisition, DuBose and Palatnik have joined Modern Wealth as managing directors, the RIA said. Legacy, which also marks Modern Wealth’s first transaction for the year, joins Modern Wealth from LPL Financial and adds its eight-person team, which includes seven financial advisors, to Modern Wealth’s headcount. As part of the addition, the firm will also adopt Modern Wealth’s name and branding, and Legacy’s retirement plan division, Legacy Retirement Plan Advisors, will leverage Modern Wealth’s technology platform and will consolidate into Modern Wealth’s retirement plan consulting team, Modern Wealth said. “If you had asked me three years ago about merging or selling the firm, it would have been a hard no,” DuBose said. “But that all changed when we met the leadership team at Modern Wealth. From the start, they treated this not as a transaction, but as the next phase of growth for our firm, our clients, and our team.” Specific financial terms of the deal were not disclosed. In January, Modern Wealth kicked off the year with the addition of a New York-based advisory firm that oversees about $300 million in assets under management. Modern Wealth, which launched in April 2023, is backed by $200 million in equity financing from Crestview Partners and has over $12 billion in assets, the firm said. Pictured: Tony DuBose (Left) and Joel Palatnik (Right) The post Modern Wealth Management Acquires $1.2B Legacy Wealth Management appeared first on Connect Money. Source: https://www.connectmoney.com/stories/mo ... anagement/