RIA consolidation showed no signs of slowing on Tuesday as two separate acquisitions extended the geographic reach of their buyers. Modera Wealth Management, a fee-only RIA based in Westwood, N.J., announced it has acquired Marathon Wealth Management of Albany, N.Y., while Simplicity Group Holdings, headquartered in Summit, N.J., said it has purchased Mobile Bay Financial Solutions in Mobile, Ala.
The Modera-Marathon deal adds approximately $155 million in assets under management, according to a statement from the firm. The transaction marks Modera's entry into New York's Capital Region and Long Island, broadening a footprint that already spans multiple states. As of December 31, 2025, Modera reported $17.5 billion in AUM across more than 6,300 clients.
Marathon founder Aaron Lieberman, a CFP professional and Certified Divorce Financial Analyst, will join Modera as a wealth manager and principal. In a statement, Modera CEO Tom Orecchio praised Lieberman's client-first approach, saying his success stems from a commitment to simplifying financial advice. The acquisition is part of Modera's strategy of combining organic growth with selective acquisitions, a model that has helped the firm expand steadily since its founding in 1983.
Simplicity Group's acquisition of Mobile Bay Financial Solutions brings a firm with more than a century of history into its fold. The renamed entity will operate as Simplicity Wealth Advisors: Mobile Bay. Co-founders John McNeil and Virginia O'Brien will join as partners, with McNeil noting that his family has been involved with the business for generations. O'Brien pointed to the firm's 104-year history as evidence of its deep roots in the region.
Bruce Donaldson, partner and CEO of Simplicity Group, said the deal reflects the firm's focus on adding advisor teams that share its client-centric values. Simplicity, which offers wealth accumulation and protection products, has positioned itself as one of the fastest-growing partnerships in financial services. Financial terms of the Mobile Bay transaction were not disclosed.
The two deals are part of a broader trend of mid-size RIAs using acquisitions to scale operations and enter new markets. According to industry data, RIA M&A activity has remained elevated heading into the second half of 2026, with record deal counts in the first half of the year. Buyers are particularly interested in firms with established client relationships and strong local reputations.
Other notable deals announced on the same day include Allworth Financial's acquisition of Sachetta, a $1.1 billion tax-advisory firm, and Wealth Enhancement Group's purchase of Hightower Signature Wealth. These transactions underscore the competitive landscape for RIA buyers, who are increasingly targeting firms that offer specialized services or unique regional presence.
For advisors considering a sale, the current environment offers favorable valuations, but experts caution that cultural fit and client transition are critical to long-term success. As the pace of consolidation continues, firms like Modera and Simplicity are demonstrating how strategic acquisitions can quickly expand a firm's geographic footprint and service capabilities.
