Modera Wealth Management, LLC (Westwood)

Name: Modera Wealth Management, LLC
Address: 56 Jefferson Avenue, Westwood, NJ, 07675
Telephone: (201) 768-4600

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. Hourly charges are usually charged for consulting work and special projects. 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.