Modera Wealth Management, a fee-only registered investment advisor with $17.5 billion in assets under management across 18 offices, has agreed to acquire NorthStar Financial Planners, a Plantation, Florida-based RIA overseeing $311.6 million in client assets. The transaction, announced Tuesday, deepens Modera's presence in the Southeast and adds specialized expertise in pre-retiree and Florida Retirement System planning.
NorthStar founder Allen Giese, who built the firm over 26 years, will join Modera as a wealth manager and principal. Giese emphasized that succession planning, not price, drove the decision. "We've grown to a point where having a sound, durable succession plan isn't optional. It's responsible," Giese said. "Joining Modera helps ensure the future of the firm is not dependent on any one individual."
Modera CEO Tom Orecchio noted the cultural alignment between the two firms. "We spent a great deal of time together making sure this was the right cultural and philosophical match," Orecchio said in a statement. The deal adds to Modera's existing office in Inverness, Florida, and follows a broader trend of RIA consolidation driven by advisor retirements.
Industry data underscores the urgency of succession planning. Cerulli Associates projects that nearly 40% of advisors will retire over the next decade, representing over 26,000 advisor exits and $2.5 trillion in assets under management. Many of these advisors lack formal succession plans, while a shortage of next-generation advisors with capital to buy out founders is fueling deal activity, according to research from Devoe.
The broader M&A market remains robust. Echelon Partners reported that the wealth management industry posted its highest quarterly deal count on record in the first three months of 2026, with 142 transactions and $1.67 trillion in assets changing hands. RIA buyers accounted for 74.6% of deal activity, with average deal size growing to $1.7 billion.
Modera, however, positions itself as an integrator rather than a pure aggregator. Vince Curtin, who leads M&A at the firm, said in a previous interview that Modera focuses on partners who align with its fee-only fiduciary model and evidence-based investment philosophy. "We're a firm of advisors who are fiduciaries. We lead with planning and we have a similar investment philosophy," Curtin said.
The NorthStar acquisition follows Modera's September 2025 deal with Ferrentino & Associates, a New Jersey-based accounting practice specializing in tax planning for high-net-worth individuals. That transaction brought founder Gary Ferrentino on board as director of tax services, integrating tax expertise with Modera's existing team in Asheville, North Carolina. Orecchio called unified planning across investments, taxes, and estate strategy "essential to full-service, fiduciary wealth management."
Modera, which traces its roots to 1983 as one of the first fee-only advisory practices, is majority employee-owned with a non-control minority stake held by Tria Capital Partners. The firm has added 20 partner firms since 2011 and is targeting further expansion in the Midwest and West Coast. As Curtin put it, "Treating every new partner that comes on as a unique opportunity to grow in the right way – that's something that Modera has gotten right from the very beginning."
For more on regional RIA expansion, see Wealth Enhancement and Steward Partners stake new ground in California, Florida. The trend of advisors seeking integrated wealth advice is also highlighted in Average Inheritance Nears $1 Million, Driving Demand for Integrated Wealth Advice.
