$23B Wealth Management Firm, Moneta, expands to Kansas City

Encouraged by a successful launch of its first expansion market last year in Denver, Moneta® is now launching its second expansion office in Kansas City.

Ranked as the largest fee-only Registered Investment Advisor (RIA) based in Missouri by Investment News in 2020, Moneta already serves a significant client base in Kansas City with $400 million in Assets Under Management (AUM).

While large in scope, the firm is committed to their high-end client service. In Kansas City, Moneta will have the area’s highest advisor-to-client ratio among its peer set, according to Barron’s most recent ranking of the nation’s Top 10 independent Registered Investment Advisors (RIAs).

Moneta’s Managing Partner and Chairman of the Board, Eric Kittner, explains: “As an independent firm, we don’t have the pressure of shareholders or investors demanding growth at a pace that may not be what’s best for our clients. We are committed to not overextending our resources to compromise the high level of service we have always provided.”

At a time when the financial advisor industry is consolidating rapidly, Moneta has chosen a more deliberate approach. Centralizing processes internally and opening their own offices in expansion markets more directly transfers the culture and operational advantages that they have mastered over the past 30+ years operating as an RIA.

Moneta President and COO Keith Bowles explains, “We are not afraid to go to markets like Kansas City where our competition is because our model is completely different. We are 100% Partner owned and operate as 23 integrated, but separate teams. Clients benefit from the power of our large-scale resources without sacrificing the highly customized personal attention we’ve always been known to provide as a high-end firm.”

Moneta’s new location opens with two advisors from the St. Louis office who are both Kansas City natives. Steven Diederich has already moved back to his hometown and Grant Edmunds will split his time between Moneta’s Kansas City and St. Louis offices before relocating back to Kansas City in a few years.

The expansion office has also attracted long-time Kansas City advisor, Al Simmons, and the team at his previous firm. Simmons just joined Moneta as a Partner on what now is the Diederich Simmons Team and brings with him a deep knowledge of the market.

In addition, Margie Carmody, previously a manager at KPMG in Kansas City, joins Moneta as a Senior Client Service Manager. Edmunds and Carmody will be working closely together as members of the Compardo, Wienstroer, Conrad & Janes Team.

Bowles comments, “We attract entrepreneurial advisors who want to gain the advantage of our large-scale resources without giving up their independence as a business owner. With Moneta they can have the best of both those worlds. We’ve seen it happen in Denver and now again in Kansas City already.” Moneta will continue to seek additional hires for the Kansas City office and plans to completely fill the space within 12 months, as they did in Denver.

Moneta financial advisors Kansas City office

About Moneta

Moneta financial advisors empower successful individuals, families and organizations to navigate life’s path and protect what they cherish. Barron’s ranked Moneta among the nation’s Top 10 RIAs in three consecutive years (2018-2020) for its combination of quality and scale. In 2020, InvestmentNews ranked Moneta as the largest fee-only RIA based in Missouri with more than $23 billion AUM. The firm consistently earns praise for the way it invests in and takes care of employees: In 2020 the St. Louis Post-Dispatch ranked Moneta among its “Top Workplaces” for the seventh-straight year and the St. Louis Business Journal named Moneta as one of its “Best Places to Work” for a sixth-straight year; in 2019, InvestmentNews ranked Moneta among the nation’s “Best Places to Work for Financial Advisers” for the second straight year.

© 2020 Moneta Group Investment Advisors, LLC. All rights reserved. Moneta Group Investment Advisors, LLC is an SEC registered investment advisor and wholly owned subsidiary of Moneta Group, LLC.  Registration as an investment advisor does not imply a certain level of skill or training. Moneta is a service mark owned by Moneta Group, LLC.

Additional articles