Clients
Modern Wealth Management serves 11,934 clients, 2,529 of them high-net-worth individuals. The average client has about $914,000 with the firm, and high-net-worth clients hold 58% of its $10.9 billion in assets.
- Individuals8,995 clients30%
- High-net-worth individuals2,529 clients58%
- Pension and profit-sharing plans365 clients12%
- OtherCharitable organizations, Corporations and other businesses0%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 8,995 | $3,218,817,989 | 29.5% | $358K |
| High-net-worth individuals | 2,529 | $6,369,937,517 | 58.4% | $2.52M |
| Pension and profit-sharing plans | 365 | $1,270,097,436 | 11.6% | $3.48M |
| Charitable organizations | 19 | $27,464,743 | 0.3% | $1.45M |
| Corporations and other businesses | 26 | $17,733,557 | 0.2% | $682K |
| Total | 11,934 | $10,904,051,242 | 100% | $914K |
- Clients
- 8,995
- Regulatory AUM
- $3,218,817,989
- Share
- 29.5%
- Avg. per client
- $358K
- Clients
- 2,529
- Regulatory AUM
- $6,369,937,517
- Share
- 58.4%
- Avg. per client
- $2.52M
- Clients
- 365
- Regulatory AUM
- $1,270,097,436
- Share
- 11.6%
- Avg. per client
- $3.48M
- Clients
- 19
- Regulatory AUM
- $27,464,743
- Share
- 0.3%
- Avg. per client
- $1.45M
- Clients
- 26
- Regulatory AUM
- $17,733,557
- Share
- 0.2%
- Avg. per client
- $682K
Total
- Clients
- 11,934
- Regulatory AUM
- $10,904,051,242
- Share
- 100%
- Avg. per client
- $914K
What it does
Modern Wealth Management provides financial planning, portfolio management for individuals and small businesses, selecting other managers, publishing newsletters and educational seminars. It is paid through a percentage of assets, hourly charges and fixed fees.
Modern Wealth Management provided financial planning to 1–10 clients last fiscal year and advises no private funds.
93.8% of assets ($10.23B across 30,244 accounts) are managed with discretion; $674.9M across 373 accounts are not. 0% of clients are outside the U.S., and 5 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks10%
- Funds80%
- Registered funds79%
- Pooled vehicles1%
- Bonds3%
- U.S. government and agency bonds1%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash5%
- Other2%
- Variable annuities, variable universal life insurance, 401(k) custom investments, derivatives, non-exchange traded equities, stable value products, alternative investments2%
Custodians
Modern Wealth Management’s client accounts are held mainly at Charles Schwab, with 70% of managed assets, and Fidelity, with 16%. Modern Wealth Management has custody of $2.83B for 3,721 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $7.67B70%
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $1.76B16%
- All other custodians$1.48B14%
Ownership and leadership
MWH Intermediate II, LLC owns 75% or more of Modern Wealth Management.
- Owns 75% or more of Modern Wealth Management, LLC
MWH Intermediate II, LLC
Control person · since October 2024
- Owns 75% or more of MWH Intermediate II, LLC
MWM Intermediate I, LLC
Control person · since October 2024
- Owns 75% or more of MWM Intermediate I, LLC
Modern Wealth Holdings, LLC
Control person · since October 2024
- Owns 50% to 75% of Modern Wealth Holdings, LLC
Crestview IV MWM Holdings, L.P.
Control person · since April 2023
Crestview IV MWM GP, LLC
General partner · Control person · since April 2023
- Owns 50% to 75% of Crestview IV MWM GP, LLC
Crestview Partners IV, L.P.
Control person · since April 2023
- Owns 25% to 50% of Crestview IV MWM GP, LLC
Crestview Holdings IV (offshore), L.P.
Control person · since April 2023
Crestview Partners IV GP, L.P.
General partner · Control person · since April 2023
Crestview, L.L.C.
General partner · Control person · since April 2023
- Owns 25% to 50% of Crestview, L.L.C.
Volpert Investors, L.P.
Control person · since April 2023
Volpert Investors, L.L.C.
General partner · Control person · since April 2023
- Owns 75% or more of Volpert Investors, L.L.C.
Barry Volpert
Control person · since April 2023
- Owns 25% to 50% of Crestview, L.L.C.
Brian Cassidy
Control person · since April 2023
- Owns 25% to 50% of Modern Wealth Holdings, LLC
MWH Holdco I, LLC
Control person · since December 2024
Leadership
- Jason GordoPresident
- James RankinChief Compliance Officer
- Michael CapelleCo-CEO
- Gary RothCo-CEO
Staff
- 253 employees
- 102 in advisory functions
- 118 state-registered reps
- 7 broker-dealer reps
- 38 insurance agents
- 5 soliciting firms
Reported holdings
Modern Wealth Management’s reported 13F holdings total $8.40B across 1,109 positions, and the ten largest make up 22.0% of it.
- $8.40B
- Reported 13F value
- 1,109
- Positions
- 22.0%
- In the 10 largest
- +43.7%
- Value vs. prior quarter
- Fidelity Merrimack Str TR · Total BD ETF4.4%
- J P Morgan Exchange Traded F · Core Plus BD ETF2.4%
- SPDR Series Trust · ST Str P500etf2.4%
- Putnam ETF Trust · Focused Lar Cap2.3%
- Apple Inc.2.1%
- Janus Detroit Str TR · Hendrson Aaa CL1.8%
- iShares TR · Core S&P500 ETF1.8%
- American Centy ETF TR · Intl EQT ETF1.6%
- iShares TR · U S Equity Factr1.6%
- American Centy ETF TR · Avantis Emgmkt1.6%
Together, the ten largest are 22.0% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $8.40B is not its $10.90B in regulatory assets and does not represent any individual client's portfolio.
Fees
Modern Wealth Management is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees).
Modern Wealth Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Modern Wealth Management has 22 offices (1 private residence, listed without an address), with 22 listed addresses across 14 states.
California · 5 listed addresses
- 546 Hartnell Street, Monterey
- 27001 Agoura Road, Calabasas
- 2105 S Bascom Ave, Campbell
- 713 Campus Square West, El Segundo
- 31601 Coast Hwy, Laguna Beach
Michigan · 3 listed addresses
- 990 E South BLVD, Troy
- 30200 Telegraph, Bingham Farms
- 100 Narrow Lane, Saginaw
Missouri · 3 listed addresses
- 1712 Main Street, Suite 400, Kansas CityHQ
- 1201 NW Briarcliff Parkway, Kansas City
- 211a NW Executive Way, Lee'S Summit
Arizona · 1 listed address
- 1138 N Alma School RD, Mesa
Idaho · 1 listed address
- 1405 W Main Street, Boise
Illinois · 1 listed address
- 10709 W 159th, Orland Park
Indiana · 1 listed address
- 130 Meadow Lake Drive, Mooresville
Iowa · 1 listed address
- 706 Montana Street, Glidden
Kansas · 1 listed address
- 13550 W 95th ST, Lenexa
New York · 1 listed address
- One Bausch & Lomb Place, Rochester
North Carolina · 1 listed address
- 1525 East Franklin Street, Chapel Hill
Pennsylvania · 1 listed address
- 165 Pottstown Pike, Chester Springs
Tennessee · 1 listed address
- 9717 Cogdill Road, Knoxville
Virginia · 1 listed address
- 11911 Freedom Drive, Reston
Other business names
Modern Wealth Management has reported 3 other business names to the SEC.
- Modern Wealth Management of Arizona
- Petso Financial, A Division of Modern Wealth Management, LLC
- Public Safety Financial
Registration details
- Legal name
- Modern Wealth Management, LLC
- Headquarters
- 1712 Main Street, Suite 400, Kansas City, MO 64108
- Phone
- 913-393-1000
- Website
- modernwealthmanagement.com
- SEC file
- 801-127231
- Structure
- California LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Modern Wealth Management have?
Modern Wealth Management has 11,934 clients and manages $10.9 billion for them, as of July 2026. They include 8,995 other individuals, 2,529 high-net-worth individuals and 365 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 2 July 2026
What services does Modern Wealth Management offer?
Modern Wealth Management provides financial planning, portfolio management for individuals and small businesses, selecting other managers, publishing newsletters and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Modern Wealth Management use?
Modern Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $7,667,939,454 and Fidelity Brokerage Services LLC (Smithfield, RI), with $1,760,399,359. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 2 July 2026
How many financial advisors does Modern Wealth Management have?
Modern Wealth Management has 118 investment adviser representatives registered with state securities authorities, out of 253 employees, and 102 perform investment advisory functions. 7 are registered representatives of a broker-dealer and 38 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Modern Wealth Management invest in?
At the end of its last fiscal year, Modern Wealth Management’s separately managed accounts held 79% registered funds (mutual funds, ETFs, BDCs), 10% exchange-traded equities, 5% cash and equivalents, 2% variable annuities, variable universal life insurance, 401(k) custom investments, derivatives, non-exchange traded equities, stable value products, alternative investments, 1% U.S. government and agency bonds, 1% state and local bonds, 1% investment grade corporate bonds and 1% pooled vehicles (private funds and similar). It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Modern Wealth Management?
Modern Wealth Management is owned through a chain of holding companies by Crestview Partners IV, L.P., Brian Cassidy, Barry Volpert and MWH Holdco I, LLC. Its direct owner is MWH Intermediate II, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 2 July 2026
How does Modern Wealth Management get paid?
Modern Wealth Management is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file