Savings bank

Cambridge Savings Bank Provides Modera Wealth Management with $26 Million Financial Package to Drive M&A Growth and Develop Employee Equity Strategy

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Cambridge Savings Bank (SCB)a full-service mutual bank with a customer-focused approach and more than $5 billion in assets, today announced that its commercial lending team has provided a financial package of $26 million over the life of the relationship, including both refinancing of existing debt and new debt, to Modera Wealth Management, LLC (MWM) and individual members of its ownership group. The funding will enable MWM – an independent and self-employed Registered Investment Advisor (RIA) and financial planning firm – to accelerate its expansion along the East Coast, improve customer services and offerings and deploy a strategy to accommodate more of the company’s staff into its ownership structure.

Led by CEO Tom OrecchioCFA®, Call for proposals®ChFC®FIA®, MWM manages over $6 billion in assets for its niche clientele of business owners, executives, doctors, dentists, individuals and families. As MWM expanded to seven states in its nearly 40-year history, the company sought a banking partner to fuel inorganic growth and provide financial support to diversify its talent pool of finance professionals. and its wealth management team.

MWM’s relationship with CSB began in 2019 after its former bank was unable to offer the necessary loan solution. After being introduced by recommendation, CSB carefully assessed MWM’s business needs and provided a $9 million loan to support partner buyouts and better position the company for inorganic growth opportunities. Since initiating their relationship with CSB, MWM has merged with two wealth management firms, Keatley Wealth Management, LLC and Independence Advisors LLC, and acquired certain assets of two others, Greystone Wealth Advisors, LLC and Kaplan Financial Advisors, LLC .

“In my experience working with Cambridge Savings Bank, their greatest strength, beyond their employees, is their ability to be collaborative and flexible. I’ve never had a conversation with the bank where they said, “we can’t do that” they always kept the conversation going,” said Orecchio. “CSB’s commitment to supporting our regional business is exactly why I expect us to have a long-standing relationship.”

MWM and CSB have connected on their mutual people-centric approach, as both organizations put the needs of the customer first. With this common philosophy in mind, MWM and CSB have maintained a harmonious relationship.

“Working with Tom and Modera Wealth Management, we weren’t looking to close a deal, we were looking to build on an existing relationship based on trust and shared understanding,” said Brian Annese, Senior Vice President, Corporate Banking at CSB. “CSB prides itself on offering customized lending solutions to its clients and empowering them to achieve their business goals, no matter how complex. When Tom came to see us, we were happy to be the ones to roll up our sleeves and find a solution.

CSB’s Commercial division is focused on meeting the unique needs of their local communities and businesses, offering a full range of business banking lending, commercial real estate lending, cash management and business services solutions. To learn more about CSB’s personalized lending solutions, please visit cambridgesavings.com or contact Brian Annese, Senior Vice President of Business Banking at bannese@cambridgesavings.com.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service banking institution with over $5 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, our customers and the communities we serve. One of Massachusetts’ oldest and largest community banks, Cambridge Savings Bank offers a full range of personal and business banking services through a strong Massachusetts-based branch network and digital banking solutions for customers. traders, small businesses and consumers. In 2022, CSB received an investment grade rating from rating agency Kroll Bond, strengthening the bank’s position as a trusted corporate lender. To find out more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you get the most out of your banking relationship. FDIC member. Equal Housing Lender.

About Modera Wealth Management

Modera Wealth Management, LLC is an independent, fee-only owned and operated financial planning and investment management firm that acts as a fiduciary for its clients. Modera has offices in seven states serving the needs of individuals, families, trusts, institutions, and philanthropic organizations. Read more on moderawealth.com.


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