Transactions

Modera Wealth Management, LLC Receives A Strategic Minority Investment From TRIA Capital Partners

New York, NY, January 15, 2021 – Park Sutton Advisors, LLC (“Park Sutton Advisors”) is pleased to have represented Modera Wealth Management, LLC (“Modera”) on its minority investment from TRIA Capital Partners (“TCP”), whose three founders, Yvonne Kanner, Benjamin Robins, and Steven Cortez were previously partners at Fiduciary Network. Modera is a fee-only, independently owned and operated financial planning firm with offices in six states along the U.S. Eastern Seaboard. The TRIA investment occurred concurrently with Modera’s merger with Philadelphia-based Independence Advisors. The transactions take the combined business to $4.4 billion in assets under management. Terms of the transactions were not disclosed.

Modera identified TCP as a potential equity partner that stood out from other firms due to TCP’s ability to commit financially over the long-term, and its shared vision for and extensive experience in the wealth management industry.  “We want to be around for our clients, and also our clients’ grandkids and great grandkids.” said Modera’s Chief Executive Officer Tom Orecchio, CFA®, CFP®, CHFC®, AIF®. “We’re excited about the long-term benefits this consultative partnership will bring to both our clients and employees, while being able to stay true to our values and history.”

“We are honored that Modera chose to partner with TRIA in support of their long-term independence and the multi-generational promises that they make to their clients,” said TRIA’s Ben Robins. “We are great admirers of the entire Modera team and their uncompromising commitment to the fiduciary standard. With a deep bench of advisory professionals, full-service wealth management capabilities and top-notch operational platform, the firm is an industry leader in every respect.”

“It was such a delight to work with Modera as they sought to take in an investment from the ‘right’ long-term minority equity capital partner. Advising on this type of transaction is a core expertise of our firm,” said Steven Levitt, Founder and Managing Director of Park Sutton Advisors. Annie Tronoski, Managing Director of Park Sutton Advisors added, “We were honored to work with the Modera team as they expand their operations into a key market on the Eastern Seaboard while also positioning the combined business for its next phase of organic and inorganic growth. We wish Modera and TCP great success in their new partnership.”