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Company Details
Modera Wealth Management, LLC was founded in 1983 with a mission to provide independent, fee-only wealth management services. The firm has been in operation for 40 years. Key growth milestones include the acquisition of Parsec Financial Management, Inc. in April 2023 and Baldrige Asset Management, LLC in June 2023. These acquisitions have significantly contributed to the firm's growth. The firm has completed over 10 acquisitions, focusing on cultural alignment rather than just AUM. Modera has a strong presence on the East Coast but seeks to continue their expansion countrywide. The firm has 16 office locations in states including New Jersey, North Carolina, Pennsylvania, Massachusetts, New York, Florida, Virginia, and Georgia.
Modera positions itself as an independent, fee-only registered investment adviser that acts in a fiduciary capacity. The firm emphasizes comprehensive wealth management services, personalized financial planning, and fiduciary responsibility. Modera serves a range of clients including Ultra High Net Worth, High Net Worth, and Mass Affluent individuals. Typical clients include individuals, families, nonprofit organizations, foundations, trusts, retirees, business owners, and professionals such as dentists and physicians. The firm has a concentration in working with small business owners, professionals, dentists, recently retired executives, and business owners.. The firm also highlights its expertise in tax planning, estate planning, and investment management.
Modera Wealth Management emphasizes a fiduciary approach, prioritizing clients' interests. Their investment philosophy is rooted in long-term investing, global diversification, and avoiding market timing. They focus on building cost-effective, diversified portfolios that align with each client's financial plan and goals. The firm leads with financial planning, which informs their investment management process. Their investment philosophy includes evidence-based or factor-based investing, focusing on broad diversification and low costs.
Modera Wealth Management uses a combination of modeled and custom/bespoke portfolios. They tailor strategies to individual goals, including ESG options, and provide ongoing monitoring and adjustments to ensure alignment with objectives and market conditions. Portfolios are developed based on key client factors: growth and liquidity needs, risk tolerance and timeline, and specific goals, such as funding education, retirement, or managing tax liabilities.
Modera Wealth Management offers alternative investments, including ESG options, private equity, real estate, credit, and infrastructure investments with low correlations to traditional markets, providing additional inflation hedges. These are available only to a select group of clients familiar with investing in illiquid assets.
Locations
Company Videos
Acquisition Model
Full Acquisition
Direct Rollover Equity
Yes
Max Cash: 100%
Max Equity: 100%
Modera typically holds back 15-20% of the purchase price for 12-24 months.
Partners/advisors will have a base salary, a 15% bonus calculated from the base, and a percentage of new business determined by the existing payout grid.
Mandatory Points of Alignment
Modera asks all partners to adopt their brand on day 1 to promote a unified firm.
Advisors must fully adopt Modera's technology stack and centralize operations from day one.
Modera's partners have total control of their calendars.
P&L management is centralized, so partners can focus on client-facing responsibilities.
Modera has a client experience that is highly encouraged, but it is not required.
While Modera encourages partners to tap into their practice management resources, they do not mandate participation.
Partners can continue to manage their own strategies, but must centralize trading.
Advisor Value Proposition
Modera is committed to the ongoing development of its owner candidates and new owners by sponsoring their participation in both external and internal training programs tailored to their areas of expertise. Externally, they support involvement in programs such as G2, a two-year course offered by Fidelity that includes both in-person and online components, with nominations available for two participants each year. Additionally, they endorse the Schwab leadership program, which is a more selective and long-term opportunity for leadership development. Internally, the firm has established a mentorship program designed to foster growth and also encourages new owners to take on greater responsibilities within the office, such as joining committees and assuming more significant roles. Modera wants to promote individuals within the organization who are demonstrating growth and making significant contributions to the team. To do this, Modera is establishing a comprehensive program that incorporates both subjective and objective methods for identifying, nominating, and selecting potential candidates who should share ownership in the firm.
Today, Modera offers valuable resources to support financial planning functions. Recognizing the importance of a dedicated financial planning team, Modera is committed to developing a formal system to enhance support for its advisors. This initiative not only aims to alleviate the time and resource burden on advisors, but also creates a promising career path for aspiring wealth advisors.
Operational support for a new partners joining Modera includes centralized functions such as Compliance, Human Resources, Operations, Portfolio Management and Trading, Finance, Marketing (in collaboration with local advisors), and Legal. This comprehensive support structure ensures that all essential services are efficiently managed, allowing partners to focus on building client relationships and driving business growth.
Beyond traditional financial planning and portfolio management, Modera offers tax planning, tax preparation, estate planning, philanthropic planning, retirement planning, and insurance planning. In 2023, Modera handled over 700 tax returns. New firms joining Modera have access to the full suite of services Modera offers clients, everything from financial planning knowledge, investment options, tax planning, collective experience and so on is available immediately at the sending of an email initially and through a click post integration.
Modera offers a range of valuable resources to advisors, such as Digital Marketing, Smart Asset, Zoe, Wealth Ramp, and local community services. Additionally, Modera facilitates connections between individuals and Centers of Influence (COIs). The organization boasts a dedicated marketing team consisting of five members, led by a Director of Marketing. Advisors collaborate closely with this team, leveraging their expertise and support to enhance their services effectively.
Modera can help partner/advisor define staff roles and responsibilities for their local office, identify and implement strategic growth initiatives, and help partners define and manage their local offices toward specific KPIs.
AUM Growth
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