The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Modern Wealth Management, Legacy Wealth Management
Kansas-headquartered Modern Wealth Management, a registered investment advisor (RIA), has made an asset purchase agreement of Legacy Wealth Management, a South Florida-based advisory firm managing about $1.2 billion in client assets. As part of this transaction, Legacy has transitioned from its broker-dealer affiliation with LPL Financial and is now a part of Modern Wealth's independent RIA, the firm said in a statement.

Led by Tony Dubose and Joel Palatnik, who are joining Modern Wealth as managing directors, Legacy marks the firm’s first office in Florida and its 20th acquisition since Modern Wealth’s launch in April 2023. The eight-person team, including seven financial advisors, will use Modern Wealth’s platform to deliver services, including financial planning, retirement plan advisory, investment management, estate planning, and more. Adopting the Modern Wealth brand, the Legacy team will continue serving its client base of more than 1,400 families, composed of business owners, pilots, professional guardians, trustees and other mass affluent through ultra-high net worth clients.

Supported by investments from Crestview Partners, in under three years Modern Wealth has grown to manage more than $12 billion in assets across 19 offices nationwide. Crestview’s partnership has helped Modern Wealth to pursue its growth plan, expand into new markets and empower employee-owners, while allowing the firm's management team to maintain control and focus on delivering a client-first experience. 

Gladstone Associates served as the exclusive financial advisor to Legacy on this transaction.

Gresham House, Molpus Woodlands Group
Gresham House, a London-headquartered specialist alternative asset manager, has agreed to acquire a majority interest in Mississippi-based Molpus Woodlands Group, creating a large timberland investment manager with about $8 billion of forestry assets under management (AuM). The financial terms were not disclosed, and the transaction remains subject to customary closing conditions, including regulatory approvals.

Gresham House, one of the largest global forestry managers with $5 billion of forestry AuM, and Molpus Woodlands Group, with $3 billion of forestry AuM, will form the third largest Timberland Investment Manager by AuM globally with operations in the UK, Ireland, the US, Australia and New Zealand, managing over 2.2 million acres.

The leadership team of Molpus Woodlands Group, comprising Terrell Winstead, Michael Cooper, George Dahduh, Tyler Rosamond, Chad McElvany, and Ashley Harris, will continue to lead operations in the US, the firm said in a statement. They will also join the Gresham House global executive management team and investment committees for the enlarged forestry platform alongside members of the Gresham House executive team. The Molpus team will continue in its current role of maintaining day-to-day operations, investment process and client service. The combined business will remain privately owned, aligning employee incentives with client outcomes.

"The acquisition of Molpus Woodlands Group will significantly expand our global client offering and deepen our investment and operational capabilities. The combined business will provide an exciting opportunity for our investors to gain exposure to the US market in key areas like timberland, afforestation, reforestation, carbon credits and land optimization,” Tony Dalwood, chief executive officer of Gresham House, said.

Gresham House and Molpus Woodlands Group have raised about $2.5 billion in timberland mandates since 2020, including more than $1 billion in 2025.

In connection with the transaction, Eversheds Sutherland is serving as legal counsel to Gresham House. Moelis & Company is serving as financial advisors, and Morgan Lewis and Bradley Arant are serving as legal counsel, to Molpus Woodlands Group. Deloitte provided financial, tax and regulatory due diligence advice to Gresham House.

See more about Gresham House here.

Emigrant Partners
Emigrant Partners, which takes minority stakes in wealth managers, has invested into Keen Wealth Advisors, an Overland Park, Kansas-based independent RIA. 

Founded in 2014 by its CEO by Bill Keen, Keen Wealth Advisors manages $1.3 billion. Keen will continue to operate independently, with no changes to the firm's leadership team, advisory staff, or the way it serves clients. Emigrant Partners holds a minority, non-voting position in the firm, it said in a statement. 

Houlihan Lokey acted as the exclusive financial advisor to Keen Wealth Advisors. Godfrey & Kahn served as Keen’s legal advisor. The financial terms of the transaction were not disclosed.