Modera Acquires Parsec


May 22, 2023

On May 1, 2023, Modera Wealth Management announced the acquisition of Parsec Financial.

Under the terms of the transaction, Modera Wealth Management (“Modera”) has acquired Parsec Financial (“Parsec”). All of Parsec’s employees and executive leadership will join Modera as part of the transaction. Further terms of the deal were not disclosed.

Modera, based in Westwood, New Jersey, is registered investment advisor offering advisory services to individuals and organizational clients. Modera has over $7 billion in assets under management.

Parsec, based in Asheville, North Carolina, is a registered investment advisor offering financial planning and wealth management services. As of July 2022, Parsec manages approximately $4 billion in client assets. Park Sutton Advisors served as the exclusive financial advisor to Parsec in the transaction.

To read the press release: please click here.

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