Moneta, a fully partner-owned registered investment advisor firm headquartered in Missouri, has merged principals and clients with The Berry Group of Worcester, Massachusetts. This addition is expected to bring $625 million in assets under management and represents the firm’s first presence in the Northeast. Berry Group principals Sarah Berry and Michael Machnowski, CFP, will join Moneta’s decision-making partnership group as part of the move.
“As a firm that has been owned exclusively by our partners and professional staff from the start, we are in the unique position to grow without private equity,” said Moneta managing partner and chairman Eric Kittner. “Sarah and Mike are very much aligned with our emphasis on having true shared equity in growing the business. Our model supports the independent mindset in allowing advisors to remain owners of their businesses and, at the same time, leverage our network and resources to grow in ways they couldn’t have on their own.”
“Moneta offers an incredible platform to help us run our business and brings the stature of being a Top 10 independently owned RIA,” explained Machnowski. “It would take us years to build what they already have. By joining forces, we can focus even greater attention on our clients.”
“In aligning with Moneta, we wanted to be part of something that matched the experience our clients had when we went independent two years ago,” added Berry. “At the same time, we wanted to protect our clients’ interests for the long term. By obtaining the resources and capabilities of Moneta, we’re very confident in our ability to meet both of those objectives.”