Modern Wealth Management announced Thursday that it entered the Florida market with its acquisition of Legacy Wealth Management, a Plantation, Florida-based advisory firm that was an affiliate of LPL Financial, managing about $1.2 billion in client assets.
The transaction, Modern Wealth’s first acquisition of 2026, closed on March 20, a company spokesperson told WSR.
Legacy is now a part of Modern Wealth’s independent RIA, Modern Wealth said.
Legacy is led by Tony DuBose and Joel Palatnik, who join Modern Wealth as Managing Directors. The eight-person Legacy team includes seven financial advisors.
Legacy is transitioning to the Modern Wealth brand. Its clients include business owners, pilots, professional guardians, trustees and others ranging from mass affluent to ultra-high net worth, according to Modern Wealth.
Legacy Retirement Plan Advisors, the firm’s retirement plan advisory business, with about $300 million in retirement plan assets, will integrate into Modern Wealth’s retirement plan consulting team. Legacy’s retirement team is led by Val Ortega, and Modern Wealth’s is led by Michelle Cannan.
“If you had asked me three years ago about merging or selling the firm, it would have been a hard no,” DuBose said in a news release. “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.”
According to Palatnik, “Joining Modern Wealth gives us the ability to scale without losing the culture that defines our firm, and to pursue growth without compromising the client relationships we’ve built over decades.”
“Tony and Joel’s team exemplifies the type of entrepreneurial, client-focused advisors we are proud to welcome to our firm,” Jason Gordo, President and Co-Founder of Modern Wealth, said in the news release. “Their experience, client relationships and expertise in retirement plans strengthen our platform and support our expansion in the Southeast as we continue to build a national presence.”
Gladstone Associates served as Legacy’s exclusive financial advisor on the deal.
Modern Wealth acquired six advisory firms in 2025, its spokesperson told WSR.
The firm said support by investments from Crestview Partners has enabled it, in less than three years, to grow to manage over $12 billion in client assets across 19 offices.
Legacy is Modern Wealth’s 20th acquisition since launching in April 2023, it said.
“Modern Wealth is actively pursuing expansion opportunities into new markets, including Texas, Florida, Colorado, the Upper Midwest, Northeast, and Pacific Northwest, supported by a robust growth pipeline,” its spokesperson told WSR.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
