What's Happening?
Modera Wealth Management has acquired Ferrentino & Associates, a New Jersey-based accounting firm specializing in tax planning and consulting services. This acquisition enhances Modera's in-house tax capabilities and reflects a growing trend of wealth management firms integrating tax and accounting services. Gary Ferrentino, founder and CEO of Ferrentino & Associates, will join Modera as director of tax services, leading the firm's tax strategy and operations.
Why It's Important?
The acquisition of Ferrentino & Associates by Modera Wealth Management highlights the increasing demand for integrated financial services. By combining wealth management with tax and accounting expertise, Modera aims to provide comprehensive solutions to its clients, enhancing its competitive edge in the industry. This trend of consolidation could lead to more mergers and acquisitions as firms seek to offer holistic financial services.
What's Next?
Following the acquisition, Modera will focus on integrating Ferrentino & Associates' services into its existing operations, aiming to attract new clients and expand its market presence. The success of this integration will be crucial for Modera's growth strategy. Additionally, other wealth management firms may consider similar acquisitions to enhance their service offerings.
