In a strategic move to enhance their service offerings, CBS Brokerage, an independent insurance brokerage, has partnered with Modern Wealth, a registered investment advisor (RIA) known for its innovative approach to financial planning. Announced in the first quarter of 2024, this partnership enables Modern Wealth advisors to integrate strategic, insurance-based risk management solutions into their client services, particularly catering to the mass affluent segment, which includes individuals with $500,000 to $10 million in liquid assets.

Comprehensive Planning and Client-Centric Strategies

Modern Wealth, differentiated in the industry by its dedicated focus on the mass affluent, collaborates with CBS to deliver nuanced financial planning services. The partnership is rooted in a shared philosophy of comprehensive, client-centric planning, as highlighted by Jason Gordo, co-founder of Modern Wealth. “Our firm was founded on the belief that everyone should have a plan, regardless of net worth. Insurance is a valuable piece of the planning puzzle, especially for those in the mass affluent segment, who are vulnerable to life’s changes,” said Gordo.

Enhanced Advisory Capabilities through Collaborative Expertise

Richard Backora, SVP, Head of RIA Client Services at CBS Brokerage, emphasized the practical benefits of this collaboration. “When well-executed, insurance acts as another tool in the advisor’s toolbox, helping clients meet their financial goals through tough conversations and strategic planning,” Backora stated. This partnership not only supports Modern Wealth’s advisors with the expertise of CBS’s leadership team but also enhances their ability to deliver a complete planning experience.

Driving Growth and Improving Client Outcomes

The alignment between CBS and Modern Wealth extends beyond immediate client services, supporting broader growth goals through strategic acquisitions of high-growth RIAs. “Firms that are looking to grow, both organically and via acquisition, benefit from a strategic set of ancillary services, allowing them to better meet evolving planning needs,” added Backora.

This partnership between CBS Brokerage and Modern Wealth exemplifies how strategic collaborations can significantly enhance the value provided to clients, ensuring they are well-prepared for financial uncertainties.

  CBS Brokerage, financial advisory services, Financial Planning, insurance risk management, investment advisor partnership, mass affluent strategy, Modern Wealth