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.
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