Modern Wealth Management on Wednesday announced an asset purchase agreement to acquire El Segundo, California-based Kaye Capital Management (KCM), a fee-only RIA with more than $700 million in assets under management (AUM) and an additional $300 million in assets under advisement (AUA).
KCM manages over $300 million in assets for more than 200 households through its individual advisory business and over $400 million in retirement plan assets for more than 400 companies ranging from 50 to 1,000 employees, according to Modern Wealth.
The transaction, the fourth to be completed this year by Modern Wealth and its 17th to date, will enable the RIA to surpass $8.5 billion in AUM and give the firm its third office in California, it said.
Founded in 2000, KCM is led by Ken Watten and David Hilton, who both join Modern Wealth as Managing Directors. KCM’s team of four has joined Modern Wealth and it has adopted the Modern Wealth brand.
KCM serves corporate executives, public servants, physicians, attorneys, entrepreneurs, film directors, writers and retirees across California and other states, Modern Wealth said. KCM also offers institutional retirement planning services for corporations and nonprofit organizations.
“KCM joining Modern Wealth marks another significant milestone as we deepen our reach in California, strengthening our ability to deliver comprehensive wealth and retirement solutions for individuals and corporations in one of the nation’s most sophisticated markets,” according to Jason Gordo, Co‑Founder and President of Modern Wealth.
“David and Ken have built an exceptional firm with deep community roots and real expertise across both personal wealth management and institutional retirement planning,” Gordo said. “Their leadership and local presence sharpens our bench in Los Angeles and contributes to our growing national presence.”
“As KCM grew, so did the complexity of running the business,” according to Watten. “David and I found ourselves spending more time managing the firm and less time doing what we’re most passionate about – serving clients.”
Watten added, “Modern Wealth provides the scale and support we need to help our clients navigate the complexities of their financial lives, within a team that shares our values and is working toward a common goal. Joining Modern Wealth gives us the opportunity to continue growing both personally and professionally.”
Modern Wealth will integrate KCM’s retirement plan services across the firm and provide access to consulting and co-fiduciary services for qualified retirement plans, including 401(k), profit sharing, 403(b) and 529 plans, according to Modern Wealth.
Those capabilities “build on the firm’s growing retirement plan advisory business, launched in March 2024 through the asset purchase of Beltz Ianni and led by Michelle Cannan,” Managing Director and Head of Modern Wealth Retirement Plan Services, Modern Wealth said.
By adding KCM’s retirement services group, Modern Wealth “enhances its ability to serve business owners and corporate clients with specialized retirement planning solutions,” Modern Wealth said.
“Michelle and the Modern Wealth retirement plan services team bring a distinct level of depth and expertise that elevates our offerings for corporations and nonprofit organizations,” according to Hilton.
“Their acumen in plan design, compliance and administration will enable us to better serve the sophisticated needs of this client base, delivering institutional-caliber solutions for employers in Southern California and beyond,” said Hilton.
By joining Modern Wealth, KCM gets access to Modern Wealth’s financial planning, tax planning and preparation, estate planning and investment management services, according to Modern Wealth.
KCM will also access Modern Wealth’s Organic Growth Hub, which provides comprehensive strategies for lead generation, distribution and client onboarding, along with business support resources for marketing, technology, compliance, human resources and operations.
The acquisition represents Modern Wealth’s third acquisition in California this year, following the asset purchase of Campbell-based Wade Financial Advisory in late March and Planned Asset Management in April.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
