St. Louis, Mo.-based Moneta has expanded its geographic footprint in the Northeast via a new partner firm, The Berry Group, a Worcester, Mass.-based registered investment advisor with $625 million in assets under management. The partnership is expected to add 450 clients and represents the firm's first presence in the area, according to an announcement today.

Managing principals Sarah Berry and Michael Machnowski join Moneta as partners and will operate as the Berry Machnowski Team at Moneta. The team will maintain its current office space.

Berry has been in the industry for more than 35 years, first as an advisor with A.G. Edwards and Sons, and then its successor firms, Wachovia and Wells Fargo Advisors, where she worked with Machnowski for 10-plus years before partnering in 2019 to create The Berry Group.

She said that in aligning with Moneta, her firm wanted to be part of something that matched the experience their clients had when they went independent. “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,” Berry said in a statement.

Machnowski, who joined The Berry Group as part of a longer-term succession strategy, added that Moneta offers an incredible platform to help them run their business and brings the stature of being a Top 10 independently owned RIA. “It would take us years to build what they already have. By joining forces, we can focus even greater attention on our clients,” he said.

For most of its history, Moneta was focused in the St. Louis area, with all of its advisors operating out of the same building, but in recent month has started to expand rapidly beyond its home office.

Moneta’s managing partner and chairman Eric Kittner said they are in the unique position to grow without private equity because they have been owned exclusively by their partners and professional staff. “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,” he said.

Moneta, a nearly $24 billion RIA, also has offices in Denver, Kansas City and the greater Boston area.