Keatley Wealth Management, a North Carolina-based financial advisory business, has combined business with Modera Wealth Management.
Both the firms provide fee-only financial planning and investment management.
Modera president and principal Robert Siefert said: “This merger with Keatley Wealth Management, a firm also dedicated to providing unbiased financial advice to clients, further supports our continued independence and commitment to a fee-only approach.”
Keatley president and CIO Karen Keatley along with the director of financial planning Jenny Martella are shareholders at Modera.
At the same time, Karen Keatley has now become member of the Modera board and Investment Committee. Besides, Martella secured a seat on the Financial Planning Committee.
The entire Keatley staff has moved to Modera as part of the deal.
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The consolidation was effective on the first of this month.
Commenting on the merger, Karen Keatley stated: “Keatley Wealth Management and Modera share an investment approach and wealth management philosophy, and both are dedicated to providing independent, fee-only advice to our clients.
“We believe that the merger will enhance the resources and expertise we can provide to our clients while maintaining a personalised relationship with each of them.”
Modera has operations in New Jersey, Massachusetts, North Carolina, Georgia as well as Florida.
Mergers are popular
Charter Oak Financial, a US-based financial planner, merged its operations with MassMutual Greater Long Island, and MassMutual Greater Hudson on January 10.
The merger forms part of Charter Oak’s strategy to bolster its presence and the required infrastructure to offer improver services to customers.
The consolidated entity will adopt the Charter Oak brand.
The combined group will be headed by Brendan Naughton and Brad Somma.
Naughton formerly served as the managing director of the Stamford office at Charter Oak. He later became the managing partner of the firm.
Somma too served as a managing director at Charter Oak and later became the managing partner of MassMutual Greater Long Island.