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

Modera Wealth Management, Ferrentino 
Modera Wealth Management, an RIA, has acquired certain assets of Ferrentino & Associates, an accounting firm specializing in tax planning, preparation, and consulting services for HNW individuals, small business owners, estates, and trusts. 

Gary Ferrentino, who founded the firm and is its CEO, will be an owner of Modera as a result of the transaction, a spokesperson told Family Wealth Report when asked for details.

The purchase price was not disclosed.

Ferrentino has more than 30 years of experience in tax planning and consulting. In his new role as director of tax services, he will lead Modera's tax practice. 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 said in a statement yesterday. 

"Gary and I have worked together for more than 25 years. This is a formalization of a relationship built on shared purpose. Unified planning across investments, taxes, and estate strategy isn't just a value-add; it's essential to full-service, fiduciary wealth management,” Tom Orecchio, CEO of Modera, said. 

Modera Wealth Management oversees $15 billion in assets.

United Capital
United Capital Financial Advisors, an RIA, has bought The Paul Group, which serves UHNW clients. The Paul Group manages $1.1 billion in client assets.

The transaction closed on August 22; The Paul Group’s four-person team bring more than three decades of industry experience and established practices in Los Angeles and New York markets.

ECHELON Partners served as exclusive advisor to The Paul Group in the transaction.

New England Private Wealth Advisors, DHK
New England Private Wealth Advisor, a Boston-based RIA, said it has acquired fellow registered investment advisor DHK Financial Advisors. DHK is based in Portsmouth, New Hampshire and has $1.6 billion in client assets.

The combined firm will manage nearly $5 billion in AuM.

The financial terms of the deal were not disclosed.

NEPWA was founded in 2005. In the case of DHK, it has provided investment advisory services since 1993.

At a time of continued merger and acquisition activity in North American wealth manager, NEPWA was itself acquired in April by Aspen Standard Wealth, an RIA acquirer. 

NEPWA’s clients are held at firms such as Charles Schwab and Fidelity Investments.