Massachusetts RIA managing $625 million merges into Moneta

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 Monetas 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 firms managing partner and chairman, said in the release.

[More: RIAs led in a year of recruiting slowed by the pandemic]

The managing principals of The Berry Group, Sarah Berry and Michael Machnowski, will become partners at Moneta.

[Slideshow:Top 10 firms for adviser moves]

The post Massachusetts RIA managing $625 million merges into Moneta appeared first on InvestmentNews.