$15B Modera Wealth Management Buys Accounting Firm, Expands Tax Division 

Modera Wealth Management, a registered investment advisor, has acquired a New Jersey-based accounting firm in a move to expand and deepen the firm’s approach and distribution of its in-house tax planning and accounting services. 

Modera Wealth has secured a deal with Oradell-based Ferrentino & Associates, which was founded in 2005 by CEO Gary Ferrentino, and provides tax planning, consulting, and tax preparation services for high-net-worth individuals, small business owners, estates, and trusts. 

As part of the acquisition, Ferrentino will become a partner in Modera and will lead the tax practice, working closely with advisors to deliver integrated tax services to their clients. His Ferrentino team will join Modera’s tax group from the Parsec acquisition. 

Following the deal, Ferrentino will assume the role of the director of tax services and will play a key role in leading Modera’s tax division and working closely with financial advisors to deliver various tax services. Ferrentino’s team will join Modera Wealth’s tax division in Asheville, North Carolina. 

Modera Wealth’s CEO Tom Orecchio has partnered with Ferrentino for more than 25 years and says the acquisition marks a “formalization” of their long-term collaboration. 

The addition marks Modera Wealth’s first acquisition for the year, following its acquisition of Maryland-based RIA Bay Point Wealth, which manages $467 million in client assets and offices across Annapolis and Stevensville in Maryland. 

The firm plans to further its expansion into other wealth management firms with limited tax services and hopes to acquire other tax firms that are looking to jump into the wealth management sector.  

“Unified planning across investments, taxes, and estate strategy isn’t just a value-add; it’s essential to full-service, fiduciary wealth management,” Orecchio, said. “As a result of this transaction, our clients will have access to sophisticated tax guidance and accounting advisory services as part of our holistic, integrated service model.” 

Modera Wealth Management, which oversees roughly $15 billion in assets under management, has more than 6,000 clients nationwide, the firm said. In 2021, Modera Wealth sold a minority stake to TRIA Capital Partners.