Pietroburgo found herself responsible for managerial duties on the largest team at Moneta, leaving her little time for her personal professional pursuits. The team had three partners, with two senior advisors prepared to ascend to partner positions themselves. Her solution was to split her team into three. “Teams can take things in their own directions and strike agreements between themselves for a succession plan,” says Pietroburgo.

Part of her client base was transitioned to the senior advisors who created their own team. She will split the revenue from those clients 50-50 with their new advisors over three years while helping with the transition.

The Next Chapter

While Kittner and Bowles are working to formalize and strengthen the offerings of Moneta’s enterprise service team, the firm is also looking to move beyond its St. Louis-area roots.

Moneta’s strategic plan calls for the firm to operate in two additional markets within the next five years.

“We’re currently looking at the Denver market,” says Kittner. “We decided to look at our client makeup and where they are geographically. About 30% of our revenue base comes from outside of the St. Louis market, but you can generally work your way back to how they’re connected to St. Louis. Some of it is family or referrals.”

Moneta may answer some of advisors’ most serious business and career challenges while allowing them to maintain their independence—a solution it will continue to perfect while it looks to expand.

“In 10 years, I see Moneta being a larger version of its current self,” says McGinnis. “I see more of the work done behind the scenes at the enterprise service team level, and less work being done at the team level. Teams are increasingly focused on face time and actively servicing our clients. Filling out our enterprise service team will allow our teams to be more interactive with our clients and less bogged down by administrative functions.”   

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