The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Modera Wealth Management has acquired Florida-based RIA Northstar Financial Planners, a business with $311.6 million of assets.

Northstar founder and CEO Allen Giese will join Modera as a wealth manager and principal, Modera said in a statement this week. 

Giese said succession planning was an important motivation for the join-up with Modera. Business transition is a major force in North American wealth management M&A as founders and owners seek ways to plan for when they exit a business. Northstar was founded in 2025 and serves more than 350 households, mostly in Florida.

“We’ve grown to a point where having a sound, durable succession plan isn’t optional. It’s responsible. Joining Modera helps ensure the future of the firm is not dependent on any one individual, and it preserves the relationships and planning philosophy that our clients value,” Giese said. 

Modera’s footprint in Florida will expand. It already has an office in Inverness. In total, it serves more than 6,300 clients from its 18 offices and oversees $17.5 billion in assets under management.

MTI, Cetera, Summit
Financial advisor Douglas Morey, founder and president of MTI Financial Advisors, and his team have joined Cetera and its Summit Financial Networks community.

Morey joins along with advisors Christopher Bayliss and Thomas Scheck. The team was previously part of Osaic and looks after about $350 million in assets under administration, serving clients across more than 20 states from its Edina, Minnesota, headquarters and a branch office in Florida.

The firm, which was founded in 1988, works primarily with high net worth families, business owners, pre-retirees and retirees. It offers clients specialized services, including estate planning, tax-efficient wealth transfer, and generational financial strategies. More than 80 per cent of its business is in fee-based advisory relationships.

MTI was originally affiliated with Investacorp, a small independent firm offering personalized, relationship-based service. Over time, MTI was absorbed into progressively larger entities – ending with Osaic, MTI sought a new broker-dealer relationship, it said in a statement. 

"The model that Summit and Cetera presented – large-firm resources with a personalized, relationship-based approach – brings MTI back to the type of firm we want to associate with," financial advisor Christopher Bayliss, said.