Modera Wealth Management Acquires $312M Florida RIA

Modera Wealth Management has expanded its footprint in the Florida market through the acquisition of Northstar Financial Planners, a Plantation-based firm managing approximately $311.6 million in assets. The deal integrates Northstar’s specialized focus on high-net-worth clients, including pre-retirees and families with special needs, into Modera’s larger national platform. This transaction highlights the ongoing trend of RIA consolidation driven by the need for robust succession planning and enhanced technological resources.

Modera Wealth Management, a New Jersey-based firm overseeing approximately $17.5 billion in assets under management, has completed the acquisition of Northstar Financial Planners. Based in Plantation, Florida, Northstar was founded in 2000 by CEO Allen Giese and serves more than 350 households across the state. The acquisition marks Modera’s first deal of the year and brings Northstar’s $311.6 million in assets and its specialized service model into the Modera fold.

Northstar Financial Planners has built a niche serving high-net-worth individuals, specifically focusing on pre-retirees, Florida Retirement System special risk employees, and families with children who have special needs. As part of the transaction, the entire Northstar team has transitioned to Modera, with Giese taking on the role of wealth manager and principal. According to the firm’s February Form ADV filing, Northstar previously reported 264 clients and over $90 million in regulatory assets across 1,054 accounts.

The move was largely motivated by a desire to provide clients with greater institutional stability and expanded service offerings. Giese noted that joining Modera allows his clients to access superior investment, financial planning, tax advisory, and technology resources. Furthermore, the partnership addresses critical succession planning concerns, ensuring the firm’s longevity is not dependent on a single individual while preserving the planning philosophy established over the last two decades.

This acquisition further scales Modera’s national presence, which currently includes over 6,300 clients. The firm’s growth trajectory has been supported by external investment, including a minority stake sale to TRIA Capital Partners in 2021. By absorbing Northstar, Modera strengthens its regional presence in the Sunshine State and continues its strategy of integrating established RIAs to bolster its comprehensive wealth management capabilities.