FUNDRAISING NEWS | November 26, 2024
Modera Wealth Management announced the acquisition of Maryland-based fee-only financial planning firm Bay Point Wealth, adding $467M in client assets, and leverage enhanced client capabilities and opportunities for growth.
Established over 25 years ago, Bay Point provides planning and investment management services to high-net-worth individuals and families. Operating out of offices in Annapolis and Stevensville, MD, the firm has a team of four advisors, including founder and principal Bill Hufnell, and four support staff.
The acquisition of BayPoint is Modera’s first since May 2023, when it added $3.8B North Carolina RIA Parsec Financial. According to its latest Form ADV filing, dated October 28, Modera manages $12.5B in client assets, of which $10.8B are from high-net-worth individuals.
Source: https://moderawealth.com/baypoint-wealth/
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