Modern Wealth Acquires Midwest Financial


September 25, 2023

On September 5, 2023, Modern Wealth Management announced its acquisition of Midwest Financial.

Modern Wealth Management (“Modern Wealth”) announced its acquisition of Midwest Financial. The transaction closed on August 31, 2023 and was financed with a mix of cash and equity in Modern Wealth. Further deal terms not disclosed.

Modern Wealth, based in Monterey, California, is a registered investment advisor that provides wealth, estate and tax planning. Modern Wealth has approximately $1.5 billion in assets under management.

Midwest Financial, based in Glidden, Iowa, is a registered investment advisor focusing on financial planning with Iowa residents, families, and farmers. Midwest Financial has approximately $205 million in assets under management. Alaris Acquisitions advised both Modern Wealth and Midwest Financial on the transaction.

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