No commissions, no ads, no advice. This Modern Wealth Management profile draws only on public records, each linked so you can confirm it yourself.

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The short answer: is Modern Wealth Management a fiduciary?

Yes. Modern Wealth Management is a fiduciary when it advises you. It's a registered investment adviser, and its Form ADV doesn't report a broker-dealer registration. Modern Wealth Management is an SEC-registered investment adviser (CRD #324624). It reported $10.9 billion in regulatory assets under management as of its latest Form ADV (filed July 2, 2026), across about 11,934 clients. Its Form ADV (Item 5.E) reports no commissions for advisory services, though it also reports insurance or other sales activity by the firm or a related company, so it's worth asking how each part of the relationship is paid. According to its Form CRS (April 28, 2026), clients pay an annual percentage of household assets under management, up to 1.50% for non-wrap accounts billed quarterly in advance, or up to 2.00% combined for wrap accounts.

Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer, so the adviser's fiduciary standard is the one that applies to its advice. Get started with Truthifi

What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)

Modern Wealth Management at a glance

✅ Verified from public filings, last checked October 5, 2026. Modern Wealth Management (SEC CRD #324624) is a fiduciary for the whole advisory relationship, on an advisory-fee basis, with $10.9 billion in regulatory assets under management. Every figure below links to its primary source.

What	Modern Wealth Management	Source
SEC CRD	#324624	IAPD
Registration	Registered investment adviser (RIA), not a broker-dealer	IAPD
Registered since	May 2, 2023 (SEC)	IAPD
Fiduciary?	Yes, as its adviser	SEC adviser standard
Fee model	Advisory fees (no commissions reported in Item 5.E)	Form ADV Item 5.E
How it's paid	A percentage of assets under management, hourly charges, and fixed fees	Form ADV Item 5.E
Regulatory Assets Under Management	$10.9 billion (Form ADV filed July 2, 2026)	IAPD
Clients	About 11,934 (Item 5.D)	IAPD
Client accounts	30,617 accounts held by those clients (30,244 discretionary + 373 non-discretionary, Item 5.F)	IAPD
Employees	253 (102 in advisory roles)	IAPD
Ownership	PE-backed	WealthManagement.com
Disclosures	Form ADV answers No to firm-level disciplinary questions; the Form CRS Yes also covers its financial professionals	IAPD
HQ	Kansas City, MO	IAPD

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Modern Wealth Management fees: what you'll pay

According to its Form CRS (April 28, 2026), clients pay an annual percentage of household assets under management, up to 1.50% for non-wrap accounts billed quarterly in advance, or up to 2.00% combined for wrap accounts.

• Account minimum: MWM generally requires $250,000 of investable assets per household, which may be waived.
• Planning and hourly work: Stand-alone financial planning costs $2,500 to $10,000. Other firm or affiliate services are flat or hourly, typically $500 to $15,000 in total.
• Other costs you may pay: Non-wrap accounts may incur custodian transaction, custodial, redemption, and administrative fees or commissions, and third-party money manager fees are added on top. (How hidden investment fees add up)

Modern Wealth Management charges advisory fees: its Form ADV (Item 5.E) reports no commissions for its advisory services. Its filing also reports broker-dealer, insurance or other sales activity by the firm or a related company, business that can be paid by commissions. Ask how each part of the relationship is paid. The details are in its Form ADV Part 2A.

Advisory fees are what clients pay the adviser directly. Commissions earned through a related broker-dealer or insurance business are a separate source of pay. (Fee-only financial advisor: costs and how to find one)

Our take: we recommend treating the 1.50% and 2.00% figures as ceilings to negotiate from, not quotes, and getting your actual household rate in writing before you sign. Beyond the rate, two choices the Form CRS leaves open matter more. Wrap accounts can run up to 2.00% combined against up to 1.50% for non-wrap, so ask the firm to show in writing which trading and custody costs the difference replaces. If an adviser suggests rolling a 401(k) into an IRA, ask for the fee comparison before you move it, since the firm itself names that rollover as a conflict. Because the $250,000 minimum is set per household, also ask whether a spouse's accounts count toward it. (Are you paying too much? Why that might be the wrong question)

Who owns Modern Wealth Management, and what conflicts does it disclose?

Modern Wealth Management is a private-equity-backed RIA launched in April 2023 by former United Capital executives Jason Gordo, Gary Roth and Mike Capelle. It registered with the SEC weeks later, on May 2, 2023. At launch, WealthManagement.com reported a $200 million majority investment from Crestview Partners, with the founders keeping operational control. (WealthManagement.com) Deal terms and control can shift after a launch, so the owners listed today on Schedule A of its Form ADV are the current word.

Several of the conflicts trace back to that ownership and affiliate structure. Among the conflicts the firm names in its Form CRS (April 28, 2026) are:

• More assets mean more fees, so the firm is incentivized to encourage clients to increase assets.
• Recommending a 401(k) rollover into an IRA can increase asset-based fee compensation.
• Sub-advisory agreements with third-party money managers create an incentive to favor certain managers based on compensation.
• Commonly owned affiliated entities provide other services and generate additional compensation for the firm.
• The firm pays independent third parties for client referrals.
• Financial professionals may invest in the same securities as clients.
• The firm may receive a credit or fee offset from an affiliate of Orion Portfolio Solutions, creating an incentive to recommend its services.
• Some recommended ETFs are managed by a firm in which an affiliate of MWM's private equity investor has a minority ownership interest.

The full list, including conflicts not summarized here, is in its Form CRS. To see how other firms disclose theirs, browse the Truthifi /advisors hub.

How its financial professionals are paid: Financial professionals receive salary-based compensation tied mainly to the household assets they service, and some also earn insurance, tax, or broker-dealer revenue.

Modern Wealth Management SEC record: disclosures

To check Modern Wealth Management's regulatory record, start with the firm's own filings. On its Form ADV, Modern Wealth Management answers No to the firm-level disciplinary-history questions. Its Form CRS answers Yes to "Do you or your financial professionals have legal or disciplinary history?" The two filings ask different questions. The Form ADV answers cover the firm itself, while the Form CRS question also covers its individual financial professionals. With the firm-level answers at No, the Yes points to records tied to individual professionals rather than to the firm. So look up any adviser you'd work with at Investor.gov, on IAPD and on BrokerCheck. Any Modern Wealth Management disclosures sit on the public record, not on anyone's characterization of them.

On the record, it has been registered with the SEC since May 2, 2023, makes notice filings in 53 jurisdictions, and reports 253 employees, 102 of them in investment advisory roles. As for whether Modern Wealth Management is legit, its registration is easy to confirm: it has a public CRD and public filings anyone can pull. The record is young, though. This CRD only goes back to May 2023, so it covers about three years of the firm operating under its own name.

Reading Modern Wealth Management reviews against the public record

A glowing review of a friendly MWM advisor won't mention that some recommended ETFs are run by a firm partly owned by an affiliate of its private equity investor. That detail sits in the Form CRS, not on a ratings site. Before you weigh Modern Wealth Management reviews, check three things this profile takes from the public record. First, how the firm is paid: it reports advisory fees and no commissions, but it has a broker-dealer or insurance connection. Second, who owns it and what conflicts it discloses. Third, whether its Form ADV reports any disciplinary history. The conflicts of interest its Form CRS names are set out above. Reviews rarely mention them, which is why this profile puts them first.

How to verify Modern Wealth Management yourself

Here's how to confirm all of it in three steps:

1. Check the SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/324624.
2. Read the filings (Form ADV / Form CRS): linked from the IAPD page.
3. Confirm the entity: match Modern Wealth Management (CRD #324624, legal name MODERN WEALTH MANAGEMENT, LLC) so you're reading the right firm.

What Modern Wealth Management does and who it serves

According to its Form CRS (April 28, 2026), MWM offers investment management, financial planning and consulting, and a wrap fee program, with tax and insurance services available through affiliates. On its Form ADV it reports providing financial planning, portfolio management for individuals and small businesses, selection of other advisers, newsletters, and educational seminars.

It reports providing financial planning to 1 to 10 clients in its last fiscal year (Form ADV Item 5.H), a count the form keeps separate from the client totals below. That's a small number for a firm whose Form CRS lists planning among its core services. It suggests most planning happens inside asset-management relationships rather than as a stand-alone engagement, so ask which one you'd be getting and how it's billed.

Its Form ADV (Item 5.D) breaks its clients down by type, about 11,934 in all:

Client type	Clients	Assets managed
Individuals	8,995	$3.22 billion
High-net-worth individuals	2,529	$6.37 billion
Pension and profit-sharing plans	365	$1.27 billion
Charities	19	$27.5 million
Corporations or other businesses	26	$17.7 million

Read the table by assets rather than headcount. High-net-worth clients are about a fifth of the client count, yet they account for more than half of the assets managed.

Accounts are a different unit from clients. Those roughly 11,934 clients hold 30,617 accounts between them, about 2.6 accounts per client (Item 5.F). Of the 30,617, 30,244 are discretionary (the firm can trade without seeking your approval first) and 373 are non-discretionary. Its main office is in Kansas City, MO.

It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV. Custody also gives you a simple check of your own: compare the firm's reports against the statements the custodian sends you directly.

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Great advice runs on the truth. Here's how to bring yours to the table.

The filings tell you who Modern Wealth Management is. They can't show how its advice fits the rest of your money. The firm's own Form CRS names the 401(k) rollover as a conflict, yet weighing a rollover means seeing that held-away 401(k), its fund costs and a spouse's accounts next to what MWM manages. Those usually arrive as separate statements, none of them reconciled. This is where Truthifi comes in.

Before you meet MWM: put the filings next to your own accounts

The filings tell you who Modern Wealth Management is. They can't show how its advice fits the rest of your money. The firm's own Form CRS names the 401(k) rollover as a conflict, yet weighing a rollover means seeing that held-away 401(k), its fund costs and a spouse's accounts next to what MWM manages. Those usually arrive as separate statements, none of them reconciled. This is where Truthifi comes in.

How Truthifi can help

Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Modern Wealth Management. Comparing firms? Every profile is in the Truthifi /advisors hub.

Prefer your own AI? A paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. To ask Truthifi's AI about your fees, you'll need a Monitoring or Monitoring Plus+ plan. See how Truthifi keeps your accounts secure

Ask AI about your Modern Wealth Management accounts

Once your accounts are connected read-only, you can ask in plain English:

• "What do I own across my Modern Wealth Management accounts and everything else, and how is it allocated?"
• "What am I paying in fees, in total, across all of these accounts?"

Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply). New to this? See how to ask AI about your real investment accounts.

No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Per Truthifi platform data, you can link up to 10 connections. Plans and limits are on the pricing page → truthifi.com.

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FAQ

Is Modern Wealth Management a fiduciary? Yes. It's a registered investment adviser (CRD #324624), so it owes a fiduciary duty when it advises you. Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer.

What does Modern Wealth Management charge? Clients pay an annual percentage of household assets under management, up to 1.50% for non-wrap accounts billed quarterly in advance, or up to 2.00% combined for wrap accounts. MWM generally requires $250,000 of investable assets per household, which may be waived. Source: its Form CRS (April 28, 2026). The full fee schedule is in its Form ADV Part 2A.

Who owns Modern Wealth Management? Modern Wealth Management is a private-equity-backed RIA launched in April 2023 by former United Capital executives Jason Gordo, Gary Roth and Mike Capelle, and registered with the SEC on May 2, 2023. At launch, WealthManagement.com reported a $200 million majority investment from Crestview Partners, with the founders keeping operational control. Current owners are listed on Schedule A of its Form ADV.

Does Modern Wealth Management have complaints or disclosures? Its Form ADV answers No to the firm-level disciplinary-history questions. Its Form CRS answers Yes to "Do you or your financial professionals have legal or disciplinary history?" That question also covers individual financial professionals, so with the firm-level answers at No, the Yes points to individual records rather than the firm. Look up individual advisers at Investor.gov, on IAPD and on BrokerCheck.

Is Modern Wealth Management legit? Modern Wealth Management is registered with the SEC (CRD #324624) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV and Form CRS.

Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.

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About this profile

Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.

Read next from the Truthifi blog

• What is a fiduciary?
• Fee-only financial advisor: costs and how to find one
• Are you paying too much? Why that might be the wrong question
• How to ask AI about your real investment accounts
• Robo-advisor vs. human financial advisor: which is better?
• All advisor fact packs on Truthifi

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A note on sources. The facts on this page come from publicly available documents, Modern Wealth Management's SEC filings and its Form CRS, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Modern Wealth Management. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com.

What to watch next. Because this firm's CRD history starts in May 2023, each annual Form ADV update adds meaningfully to a short record. When the next one posts, three lines are worth comparing against this profile: the client count, the 1 to 10 planning figure, and the Form CRS answer on disciplinary history.