Modera Wealth Management announced Wednesday the acquisition of Ferrentino and Associates, a New Jersey-based accounting firm specializing in tax planning, preparation and consulting services for high-net-worth clients and business owners.
Through the transaction, Modera aims to expand the depth and delivery of its in-house tax capabilities, according to the announcement.
Gary Ferrentino, the accounting firm’s founder and CEO, brings over 30 years of experience in tax planning and consulting to his new role as Modera’s director of tax services. In that capacity, he will lead Modera’s tax practice, guide the firm’s tax strategy, and work closely with advisors to deliver integrated tax services.
Ferrentino’s team will join the firm’s existing tax group, based in Asheville, North Carolina, creating a team of tax professionals that work with clients across the country.
Modera’s CEO, Tom Orecchio, has worked with Ferrentino for more than 25 years, according to the announcement. The transaction represents a “formalization” of their long-term partnership.
Ferrentino said in a statement that joining Modera will also help his firm attract talented professionals in new markets, while providing existing team members with new career opportunities.
“Unified planning across investments, taxes, and estate strategy isn’t just a value-add,” Orecchio said. “It’s essential to full-service, fiduciary wealth management. Gary’s firm has provided tax planning, preparation and consulting services to Modera and our clients. As a result of this transaction, our clients will have access to sophisticated tax guidance and accounting advisory services.”
Modera, an RIA that serves individuals, families, nonprofits, and retirement plan sponsors, says it had $15 billion in assets under management at the end of 2024.
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