Moneta Expands Growth Strategy with New M&A Director
Moneta Strengthens National Growth with a New Director
Moneta is poised for exciting growth as it takes significant steps to expand its national presence. The firm has recently appointed Peter Brown as the Senior Managing Director of Mergers and Acquisitions. This strategic move comes after years of successful expansion into new markets and indicates Moneta's commitment to broadening its impact in the wealth management sector.
New Hire Signals Ambitious Growth Plans
Peter Brown, who previously held the position of Senior VP at Wells Fargo Advisors, brings a wealth of knowledge and experience to Moneta. His appointment is part of a broader strategy to enhance Moneta's M&A efforts alongside Shawn Paulk, who was brought on to the same role earlier. Together, they will focus on integrating more practices into Moneta’s existing framework, highlighting a dedication to growth and collaboration.
Creating Opportunities in M&A
According to Brown, the M&A landscape in the financial advisory industry is evolving rapidly, primarily influenced by private equity interests and external capital. Moneta aims to leverage this shift by offering its advisors not just the necessary resources but also a say in the decision-making processes regarding mergers and acquisitions. This unique opportunity is tailored for those advisors who value both support and autonomy in serving their clients.
History of Growth and Expansion
Moneta’s expansion journey has been impressive. Since 2017, the firm has invested in enhancing its platform infrastructure to support partners and advisors venturing into new markets beyond its St. Louis headquarters. The firm celebrated its 30th anniversary in 2019 by completing its first merger and subsequently established offices in key regions such as Kansas City, the Greater Boston area, and Chicago, further solidifying its national footprint.
Doubling Assets Under Management
The firm's assets under management (AUM) attest to its successful expansion efforts. From a significant $16.1 billion at the end of 2016, Moneta's AUM soared to an impressive $37.4 billion by the end of 2023. This remarkable growth has been fueled by the continuous interest from practices and advisors looking to join the firm.
Vision for the Future
In line with this healing growth strategy, Moneta's leadership is focused on maintaining selective and deliberate growth. CEO and Chairman Eric Kittner emphasizes the importance of quality over quantity in acquisitions. With a vision to enhance growth, Brown’s main goal will be to help the firm manage its expansion while nurturing the unique culture that defines Moneta.
A Unique Approach to Advisory Services
Moneta's approach to M&A is distinctive in that the firm prioritizes the identity and culture of its advisors. Keith Bowles, the President and COO, underscores the firm’s commitment to maintaining its hallmark of being an organization owned and operated by advisors. This philosophy allows Moneta to offer an unparalleled experience in the competitive landscape of wealth management.
ABOUT MONETA
Moneta Group Investment Advisors, LLC operates as a registered investment adviser situated in the Midwest, managing assets totaling about $37.4 billion as of late 2023. The firm is dedicated to empowering families, organizations, endowments, and foundations to navigate their financial journeys effectively while protecting what matters most to them.
Frequently Asked Questions
What is the significance of Peter Brown's role at Moneta?
Peter Brown's role as Senior Managing Director of Mergers and Acquisitions signifies Moneta's commitment to growth and aims to expand its influence in the wealth management sector.
How has Moneta expanded in recent years?
Moneta has opened several offices across different regions, including Kansas City, Boston, and Chicago, and has successfully completed mergers to strengthen its national footprint.
What makes Moneta different from other advisory firms?
Moneta prioritizes advisor empowerment and independence, allowing its advisors to influence decision-making and ensuring that they have the necessary resources to serve their clients effectively.
What are Moneta’s goals for M&A in the future?
Moneta aims to increase its M&A volume in the coming years but remains selective in choosing partners to preserve its unique culture and identity.
How much has Moneta's AUM grown recently?
Moneta's assets under management have grown from $16.1 billion in 2016 to approximately $37.4 billion by the end of 2023, showcasing the firm’s successful expansion strategy.
About The Author
Contact Dominic Sanders here.
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