Modera Wealth Management Acquires Parsec Financial

Modera Wealth Management has acquired the Parsec Financial team, bringing Parsec's Asheville-based advisory practice into Modera and creating a combined firm with over $10.5 billion AUM and more than 180 employees across 14 East Coast offices. The transaction was completed with backing from Modera's existing minority equity partner, TRIA Capital Partners; Parsec leadership will take senior roles within Modera.