Twenty-six years after its founding, the Old Tappan, New Jersey fee-only wealth management firm Greenbaum and Orecchio, Inc, has changed its name to Modera Wealth Management. According to the firm the new name, “Modera” comes from the Latin words for “management and direction”, reflecting the firm’s time-tested approach to wealth management.
According to principal Tom Orecchio the name change was necessitated by the retirement of his original partner, Gary Greenbaum,, and the terms of their partnership agreement. Two new partners, Greg Plechner and Mark Willoughby, bought small stakes in the firm last year and upon Greenbaum’s retirement, they and Orecchio bought Greenbaum’s remaining 44% stake in the firm.