Modera Wealth Management is buying Parsec Financial in a deal that will enlarge the firm’s footprint on the East Coast and boost its assets under management to $10.5 billion. Parsec is based in Asheville, N.C., and managed $3.7 billion in assets.
Tom Orecchio, CEO of Modera, said his firm and Parsec shared a client-first, fiduciary approach. “We believe that the increased scale, resources and talent resulting from the combination of our firms will serve to enhance that commitment as we continue to elevate the depth and sophistication…
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