Modern Wealth Management announced that it has entered into an asset purchase agreement to acquire Flaharty Asset Management, a Clearwater, Florida-based wealth management firm overseeing approximately $1.1 billion in advisory and brokerage assets. The transaction strengthens Modern Wealth’s footprint in Florida and adds an 18-person team, including nine advisors, to the firm’s growing national platform.
Led by Shon Flaharty and Hunter Orr, Flaharty Asset Management operates from offices in Clearwater and Punta Gorda, Florida. The firm has built its reputation on comprehensive wealth management, personalized client service, and a holistic approach to financial planning.
The acquisition marks another step in Modern Wealth’s expansion strategy in Florida, a key growth market for the firm. Following its acquisition of Legacy Wealth Management earlier this year, the addition of Flaharty establishes a presence in the Greater Tampa Bay and Clearwater region while further strengthening Modern Wealth’s Southeast operations.
Modern Wealth said the transaction aligns with its strategy of partnering with firms that share its commitment to client-centered advice and long-term relationship building. The company believes Flaharty’s service model and culture complement its broader vision for the future of wealth management.
Through the partnership, Flaharty’s team will gain access to Modern Wealth’s integrated platform, including centralized support for marketing, technology, compliance, human resources, and operations. The firm will also benefit from in-house expertise in financial planning, investment management, tax planning and preparation, estate planning, and retirement plan management. In addition, advisors will have access to Modern Wealth’s Organic Growth Hub, which helps source and cultivate prospective client relationships.
The acquisition is Modern Wealth’s 22nd transaction since its founding and follows its recent acquisition of Brown and Company in Colorado. Following the addition of Flaharty, Modern Wealth manages more than $14 billion in assets across 20 offices nationwide.
KEY QUOTES:
“For nearly two decades, we have focused on building a firm that cares deeply about the people we serve and the people we work alongside. As our business has grown, we knew the next chapter required a partner that could help us preserve that culture while continuing to evolve. Modern Wealth understands what makes our firm different and shares our belief that great advice is about much more than investment management alone.”
Shon Flaharty, CFP, AIF, Founder, Flaharty Asset Management
“Florida is an important growth market for Modern Wealth, but this acquisition is about much more than geography. Shon, Hunter and their team have built a remarkable business around care, trust and a highly human approach to advice. Their model aligns closely with where we believe the industry is headed, and we see a meaningful opportunity to bring elements of their client experience to advisors across our broader platform.”
Jason Gordo, President and Co-Founder, Modern Wealth Management
“Our objective has always been to grow the right way, with the right clients and without losing the culture that got us here. Modern Wealth gives us additional capacity to expand the work we believe matters most, helping each client build a financial blueprint that reflects their goals, risks, family dynamics and priorities.”
Hunter Orr, CFA, Flaharty Asset Management
