Independence Advisors, a Wayne, Pennsylvania, registered investment adviser managing $1.3 billion, has merged into Modera Wealth Management, a Westwood, New Jersey-based RIA managing $3.1 billion.
The combined entity has more than 1,900 clients and operates offices in Massachusetts, Georgia, North Carolina, and Florida in addition to New Jersey and Pennsylvania.
Independence Advisors principals Charles Boinske, Mark Rioboli and Patrick Runyen will continue as principals of the combined firm, bringing the total number of employee-owners to 20. Tom Orecchio remains Modera’s chief executive.
Simultaneous with the acquisition, TRIA Capital Partners closed on an undisclosed investment in Modera as a non-control, minority equity partner.
[More: RIA M&A starts 2021 with a bang]
Nearly half of private firms forgo 401(k) plans even as new data ties them to higher stock option uptake among employees.
New research finds just 12% of wealth management firms have reached AI leader status, and it isn't spending that separates them
Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities.
Self-serve access to Strategic Advice Manager promises onboarding in days, as RIAs weigh how deep to take AI adoption.
Elios Financial Group joins Carson Wealth as the Omaha RIA adds to a record year of industry dealmaking.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
