Yeah it'll work. The modem will communicate with the router over ethernet, and the router will provide 5 GHz WiFi. Just plug the router's WAN port into the modem, then plug all of your devices into the router rather than the modem. If the modem has a bridge mode, that will be best (saves you from extra work if you port forward), but it's not absolutely necessary. Probably best to disable the modem's wireless too, so you don't get confused about whether your wireless devices are connected to the router or the modem. All your wireless devices should be connecting to the WiFi on the new router. (Only reason I can think of to keep the modem's WiFi active is if the router's WiFi doesn't support a guess network. You can use the modem's WiFi as a guest network, since devices connected to it will have Internet access, but will not be able to contact devices connected to your router.)
If you forward ports and the modem is not in bridge mode, you'll need to forward the ports on both the modem and router. On the modem, find a setting for DMZ, and set it to the router's WAN IP address. Enabling DMZ tells the modem to forward everything to that IP address, and creates a setup very similar to a bridge. After DMZ is set, you can configure port forwarding on the router as if it were connected directly to the Internet.
There should be no speed loss as the throughput over 5 GHz is slower than over Gigabit Ethernet. All the extra hop will do is add like 1 millisec of latency. The most common reason for speed loss in this type of configuration is if the router's WAN port is not Gigabit. Non-Gigabit Ethernet will cap you at 100 Mbps (12.5 MB/s), which is significantly slower than 802.11ac over 5 GHz (which usually tops out at around 866 Mbps, or about 45-60 MB/s throughput after error correction). So make sure the router has a Gigabit port on the WAN side (also nice to have it on the LAN side).
Beware that some of the older dual band routers (like 7+ years old) could do 2.4 GHz or 5 GHz WiFi, but not at the same time. You had to pick one or the other. The ones which could do both at the same time were labeled "simultaneous dual band." Newer routers should be safe, and all capable of using both bands simultaneously.