A Jacksonville wealth management firm founded by a longtime Southside advisor has been absorbed into a fast-growing national platform, part of a wave of buyouts reshaping how Americans get financial advice. Sanchez Wealth Management Group, which oversees nearly $710 million in client assets according to a release, was acquired by Modern Wealth Management on September 10, 2026, marking the California-based firm's third Florida deal in five months.
Modern Wealth Management, based in Monterey, California, was co-founded in 2023 by former United Capital executives Gary Roth, Mike Capelle, and Jason Gordo with $200 million in private equity funding from Crestview Partners, according to WealthManagement. The Sanchez purchase marks the firm's 23rd total transaction, pushing its assets under management past $15 billion across 20 offices nationwide. The deal also exemplifies the company's rapid national roll-up strategy.
A Family Practice Stays Put on Belfort Road
Founder Christen “Chris” Sanchez founded Sanchez Wealth in 2000, according to AdvisorHub's reporting. All six members of his team made the move to Modern Wealth, including wealth advisors Dawn Nicoles, his sister, and Josh Mandelkorn; client service associates Alexandria Sanchez, his daughter, and Lindsey Hall; and Director of Operations Jennifer Koeller, per the same account.
The firm continues operating from its existing office at 5150 Belfort Road in Jacksonville. Sanchez remains the firm's founder.
What Clients Get in Return
Sanchez will now have access to Modern Wealth Management's wealth management platform and centralized resources, including technology, compliance, human resources, and operations support. Sanchez said the firm prioritizes clients first and the team second, and he said continuity was important for the firm, the team, and client relationships. He added that the acquisition will give him more time to help clients, coach them, educate them, and support their families.
Florida's Broader LPL Exodus
The Jacksonville deal is the third Florida transaction for Modern Wealth Management within five months in 2026, following its purchase of the $1.2 billion Legacy Wealth Management in South Florida and the $1.1 billion Flaharty Asset Management in Clearwater in June, according to AdvisorHub. Legacy Wealth Management is based in South Florida, while Modern Wealth's Flaharty purchase expanded its presence into Clearwater and Tampa Bay.
Notably, all three acquired Florida practices—Legacy Wealth Management, Flaharty Asset Management, and Sanchez Wealth Management Group—were previously affiliated with independent broker-dealer LPL Financial, the outlet notes. Modern Wealth Management operates dual headquarters in Monterey, California, and Lenexa, Kansas, AdvisorHub reports.
Part of a Record Consolidation Wave
The Sanchez deal is Modern Wealth's fifth acquisition completed in 2026, adding to the $3.6 billion in client assets the firm added during the first half of the year, according to ThinkAdvisor. Earlier 2026 acquisitions included Denver-based Brown and Company.
The broader wealth management sector continues to see consolidation as mid-sized practices seek scale to handle administrative and regulatory burdens. For Jacksonville clients, the practical result is a familiar team at a familiar address, now backed by a much larger platform's back-office machinery.
