Modera Wealth Management, LLC (Westwood)


Modera Wealth Management, LLC is a large advisory firm based in Westwood. It manages $2.39 billion of regulatory assets for 5,824 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Arizona, California, Connecticut, and 20 other states.

Modera Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Modera Wealth Management: assets under management

The assets under management (AUM) of Modera Wealth Management, LLC is $2.39 billion. The firm's AUM has grown by 148% since the beginning of its operation, and $11.63 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.38 billion in discretionary accounts and $13.94 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $412.55 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $228.48 thousand.
Modera Wealth Management has custody of $576.02 million in cash and securities for 565 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 68% of the total AUM. The second-largest asset type is exchange traded securities, which make up 22% of the firm’s portfolio. Investments in state and local bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Modera Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Modera Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Modera Wealth Management is high net worth individuals with 741 clients and $1.88 billion of assets under management. Among the 8 most similar advisory firms, Modera Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.39 billion for 1,408 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Modera Wealth Management also advises several private funds. Namely, one private equity fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Modera Wealth Management, LLC

The company employs 69 people that are either part- or full-time employees. 57 percent of the employees work as investment advisers or researchers. 38 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Mark Anthony Willoughby has served as the Chief Investment Officer since 1 Jan 2011 and Robert David Siefert is the Chief Executive Officer of Modera Wealth Management, LLC family office. Adam Joseph Leone joined the executive team most recently as the Elected Manager.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Inc. Modera Capital Managing member 1 Nov 2010 75% - 100% 22-2502213
Thomas Anthony Orecchio Elected manager 1 Nov 2010 Other 2111250
Mark Anthony Willoughby Elected manager 1 Nov 2010 Other 4340657
Robert David Siefert Elected manager 1 Nov 2010 Other 2636652
Gregory Nmn Plechner Elected manager 1 Nov 2010 Other 2101597
Inc. Modera Managing member 1 Nov 2010 50% - 75% 22-2502213
Inc. Back Bay Financial Group Managing member 1 Nov 2010 25% - 50% 04-3330850
John Henry Leblanc Chief compliance officer 1 Nov 2010 Other 2735410
Mark Anthony Willoughby Chief investment officer 1 Jan 2011 Other 4340657
Miles Douglas Doherty Chief compliance officer 1 Jan 2013 Other 2814968
Adam Joseph Leone Officer 1 Jan 2013 Other 5653720
Mark Anthony Willoughby Officer 1 Jan 2013 Other 4340657
George Thomas Padula Officer 1 Jan 2013 Other 1922032
Robert David Siefert Chief executive officer 1 Jan 2013 Other 2636652
Kevin Patrick Sweeney Chief compliance officer and chief operating officer 1 Jul 2013 Other 5872848
John Joseph Ceparano Elected manager 1 Jul 2014 Other 2582424
Adam Joseph Leone Elected manager 1 Jan 2016 Other 5653720
Robert Spencer Hockett Elected manager 1 Jan 2017 Other 4670605
George Thomas Padula Elected manager 1 Jan 2018 Other 1922032
John Joseph Ceparano Elected manager 1 May 2018 Other 2582424
Adam Joseph Leone Elected manager 1 Jul 2018 Other 5653720

Indirect Owners

The SEC currently registers 6 indirect owners.

Name Entity Date acquired Ownership Employer ID
John Henry Leblanc Treasurer 1 Sep 1996 50% - 75% 2735410
Robert David Siefert President 1 Sep 1996 50% - 75% 2636652
Thomas Anthony Orecchio Shareholder 1 Mar 2000 25% - 50% 2111250
Gregory Nmn Plechner Shareholder 1 Mar 2007 25% - 50% 2101597
Gregory Plechner Vice president / shareholder 1 Mar 2007 25% - 50% 2101597
Llc Modera Wealth Management Managing member 1 Jul 2014 75% - 100% 155649

Based in Westwood

The principal office where Modera Wealth Management, LLC performs its advisory services is located at 56 Jefferson Avenue, Westwood, NJ 07675, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (201) 768-4600 or by fax (201) 768-1111. The normal business hours are 9:00am to 5:30pm on Monday - Friday. You can find more information about the New York firm at moderawealth.com.