The Berry Group, a Worcester, Massachusetts-based registered investment adviser managing $625 million, has merged into Moneta, a St. Louis-based RIA managing almost $24 billion.
The expansion marks Moneta’s first foray into the Northeast, the firm said in a release.
Moneta expects to expand into other markets “where like-minded advisors who appreciate the concept of shared equity in a member-owned RIA express interest in joining,” Eric Kittner, the firm’s managing partner and chairman, said in the release.
The managing principals of The Berry Group, Sarah Berry and Michael Machnowski, will become partners at Moneta.
[Slideshow: Top 10 firms for adviser moves]
In a constant fight over control of clients, the financial advice industry has a long history of such allegations and disputes.
Retirement fintech Vestwell has hit profitability and $200 million in annual recurring revenue, powering savings programs for 750,000 employers and Wall Street’s biggest firms
Meanwhile, &Partners has drawn another Wells Fargo team based in Missouri, while an experienced South Carolina advisor has returned to Cetera from LPL.
Faulty Forms 1099 and account statements reportedly left some Vanguard brokerage customers overpaying or underpaying taxes for over a decade.
The democratization of ETFs cuts both ways
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
