Modern Wealth to Acquire Lodi Firm With $330 Million in Assets

Modern Wealth Management announced Oct. 20 that it is acquiring Lodi-based 4thGEN Wealth Management, a practice overseeing about $330 million in assets under management, InvestmentNews reported.

Three advisors—Kenneth F. Levy, Corey N. Daniel and Dudley McGee—and two staff members, Senior Client Associate DeAnn Murray and Business Development Specialist Chris Taylor, are set to join Modern Wealth. The company said the advisors plan to continue working with their clients and the existing support team will remain in place. Levy said succession planning was part of 4thGEN’s decision to select a partner.

The deal follows Modern Wealth’s September acquisition of Auburn-based AWA Wealth Management, a roughly $290 million practice, according to InvestmentNews. Adding the reported figures gives about $620 million across the two practices; 4thGEN’s figure is approximately $40 million higher. These rounded figures describe the two practices, not Modern Wealth’s total assets.

No closing date was stated, so the announcement does not confirm that the transaction has closed.