# Modern Wealth takes $200 million from Centerbridge

URL: https://www.financialadvsr.com/article/modern-wealth-takes-200-million-from-004cb8
Published: November 10, 2026
By: Grant Whitmore, Moves Correspondent
Section: Moves
Publisher: Financial ADVSR (https://www.financialadvsr.com)

The hybrid debt-and-equity investment comes as David Canter joins the board of the roughly $17 billion RIA, according to the firm's announcement.

InvestmentNews reported on Tuesday that Modern Wealth Management has secured $200 million from Centerbridge Partners, and that David Canter has joined the firm's board. According to the firm's announcement, the investment is a hybrid of debt and equity and is a capital raise rather than a purchase price. Citywire RIA separately reported the roughly $200 million raise, describing Modern Wealth as an RIA acquirer with $17 billion under management and calling it Monterey-based.

The firm's release says the money comes from funds managed by Centerbridge Partners, and that funds managed by Harvest Partners SCF also invested in the round. Crestview Partners, which backed the firm at its 2023 launch, remains its largest institutional investor alongside Centerbridge. The release says the new capital is meant to fund acquisitions, expand into key markets and further build out the integrated platform. According to the release, the firm now manages almost $17 billion and has completed 26 acquisitions since it was launched.

Canter's board seat is part of the same announcement. The release identifies him as chief executive of Finley Point Strategy and a former president of Bluespring Wealth Partners, and says he previously headed the RIA and family office businesses at Fidelity Institutional. The release also says he made a significant equity investment through ATON Associates, which it describes as a firm making minority investments in the wealth management ecosystem. Ardea Partners was lead financial adviser on the transaction, according to the release, and Houlihan Lokey and Citizens Bank also advised. Eric Hoffman, a senior managing director at Centerbridge, is quoted in the release.

The release describes Centerbridge as a private investment firm with private equity, private credit and real estate strategies, founded in 2005. Centerbridge's own figure is about $52 billion in assets under management as of 30 September 2026, with offices in New York and London. A 2023 Form ADV summary cited in the research reports about $35.2 billion in discretionary capital, which is a regulatory measure rather than the same figure. Wikipedia credits Jeffrey Aronson and Mark Gallogly with founding the firm.

Modern Wealth launched in April 2023 with $200 million in equity from Crestview Partners, according to a Business Wire release dated 5 April 2023. Its founders, Gary Roth, Mike Capelle and Jason Gordo, were previously executives at United Capital and Goldman Sachs, and the 2026 release also names Jason Del Col among its leaders. At launch, trade press reported that Crestview would take majority ownership in exchange for its equity while the founders retained control of operations. Gordo has said the team grew United Capital to about $25 billion in assets before its 2019 sale to Goldman Sachs for $750 million, according to AdvisorHub.

The firm's recent deals include the acquisition of 4thGEN Wealth Management in Lodi, California, which Modern Wealth announced on 20 October 2026. Yahoo Finance reported that the practice oversees about $330 million in assets. AdvisorHub reported that Gordo's stated target is $28 billion in assets under management by 2028, and that a company spokesperson confirmed the goal.

Third-party regulatory data for the firm is not consistent. AdvisorGuide lists $11 billion in AUM and 92 advisors, and a Radient Analytics mirror of the Form ADV reports about $10.9 billion in regulatory AUM as of a 2 July 2026 filing. Figures in this article come from the firm's announcement and the outlets named, and readers should check the SEC's IAPD records for current regulatory data. The InvestmentNews summary frames the raise as part of continued private capital flowing into aggregators and advisor platforms.

Key facts:
- $200 million hybrid debt-and-equity investment from funds managed by Centerbridge Partners, according to the firm's announcement
- Almost $17 billion in AUM and 26 acquisitions since launch, per the Modern Wealth release
- Modern Wealth launched in April 2023 with $200 million in equity from Crestview Partners
- 4thGEN Wealth Management in Lodi, California, with about $330 million in assets, announced 20 October 2026 (Yahoo Finance)
- Centerbridge reports about $52 billion in AUM as of 30 September 2026, per its release

Why it matters: Growth capital of this size lets RIA aggregators fund acquisitions and platform build-out without relying only on existing shareholders, which can shape which practices they pursue. Advisers and teams weighing a move should pay attention to how a platform's owners plan to deploy capital, since that affects integration, expansion and the terms offered to incoming practices. Firm leaders watching valuations will note that hybrid structures blend debt and equity, which can differ in control and repayment terms from a traditional sale.

Firms in this story, from their SEC Form ADV filings:
- Modern Wealth Management (Kansas City, MO; SEC CRD 324624): $11B regulatory assets under management, 11,934 clients, 102 advisory staff, 23 offices, custodians Charles Schwab, Fidelity; Form ADV filed 2026-07-02. https://www.financialadvsr.com/rias/modern-wealth-management-llc

Sources:
- InvestmentNews: https://www.investmentnews.com/ria-news/modern-wealth-lands-200m-from-centerbridge-as-canter-joins-board/268966
- Citywire RIA: https://citywire.com/ria/news/pe-shop-centerbridge-invests-200m-in-modern-wealth/a2503022
- au.finance.yahoo.com: https://au.finance.yahoo.com/news/modern-wealth-management-secures-200-130800682.html
- financialcontent.com: https://www.financialcontent.com/article/bizwire-2026-11-10-modern-wealth-management-secures-200-million-hybrid-capital-investment-from-centerbridge-to-accelerate-next-phase-of-growth
- imdealsblog.sewkis.com: https://imdealsblog.sewkis.com/crestview-partners-invests-in-modern-wealth
- investmentnews.com: https://www.investmentnews.com/ria-news/modern-wealth-marks-two-year-milestone-with-16th-acquisition/260328
- businesswire.com: https://www.businesswire.com/news/home/20230405005303/en/United-Capital-Co-founders-Launch-Modern-Wealth-Management-With-$200-Million-Equity-Financing-from-Crestview-Partners
- wealthmanagement.com: https://www.wealthmanagement.com/ria-news/united-capital-co-founders-launch-modern-wealth-management-with-pe-backing