Moneta, a partner-owned registered investment advisor company headquartered in St. Louis, has announced a merger with Worcester financial firm The Berry Group on Thursday.
The merger with The Berry Group’s principals and clients is expected to bring $625 million in assets under Moneta’s management, according to a press release from Moneta.
The Berry Group principals Sarah Berry and Michael Machnowski will join Moneta’s decision-making partnership group as part of the merger.
“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 Eric Kittner, Moneta managing partner and chairman, in a statement. “Sarah and Mike are very much aligned with our emphasis on having true shared equity in growing the business.
The Berry Group merger represents Moneta’s first presence in the Northeastern United States.
