Modera Wealth Expands Florida Presence with Strategic Acquisition of NorthStar Financial

Modera Wealth Management is strengthening its presence in Florida by acquiring NorthStar Financial Planners, a registered investment advisor based in Plantation, Florida.

With $17.5 billion in assets under management across 18 offices, Modera is committed to its deliberate, culture-first acquisition strategy.

CEO Allen Giese of Northstar will join Modera as a wealth manager and principal, bringing his expertise in fiduciary advice for pre-retirees and Florida Retirement System special risk employees.

According to Tom Orecchio, CEO of Modera Wealth Management, the deal is a cultural and philosophical match, allowing Modera to grow its presence in Florida while maintaining its commitment to comprehensive financial planning.

Modera has a long history, dating back to 1983, and is majority employee-owned, with a non-control minority equity stake held by Tria Capital Partners.

For Allen Giese, joining Modera was about ensuring the future of his firm, with succession planning being a key factor in the decision.

The wealth management industry is experiencing a significant amount of deal activity, with many advisors nearing retirement and lacking a succession plan.

Modera has added 20 partner firms since 2011, focusing on its integrator approach, which prioritizes a culture-first, fiduciary model.

The company is happy to focus on partners who align with its values, rather than competing with larger consolidators.

With the addition of NorthStar Financial Planners, Modera further cements its presence in the Southeast and is targeting the Midwest and West Coast as part of its long-term growth strategy.