FINANCIAL ADVISOR IQ

Another Merrill Lynch Team Heads to Sanctuary Wealth Management

October 2, 2018

By Alex Padalka

RIA hybrid Sanctuary Wealth Management has acquired an advice practice established by two former Merrill Lynch brokers, according to a press release from Sanctuary.

RiceBarrett Family Wealth, founded by Martin Rice and Beau Barrett, is based out of Indianapolis and serves families nationwide, overseeing $240 million, according to the press release. Rice and Barrett are joined by registered administrative partner Jan Lasiter, Sanctuary says.

Rice had been with Merrill Lynch since the start of his financial advice career in 1998, according to his BrokerCheck profile. Barrett began his career at Merrill Lynch as well, a year later, according to BrokerCheck.

“We are now able to access the very finest technology tools available to our industry and we are capable of delivering a broader-than-ever range of investment options to power clients towards fulfilling their aspirations,” Barrett says in the press release. “We leverage our new technologies and wealth options to continue differentiating ourselves.”

Sanctuary, a hybrid RIA and broker-dealer network, was launched in May by the 110-year-old advice practice David A. Noyes & Co. and billed as a new type of independence model, as reported. Last month, Sanctuary lured another Merrill Lynch broker: Cerulean Private Wealth Advisors was founded in September by Mike Myers, who had been with Merrill Lynch since 1998.

Merrill Lynch, meanwhile, has created a new Texas West community market and appointed Stanley Stephens as its market executive, the firm says in a press release. The newly created entity includes seven Merrill Lynch offices across Abilene, Lubbock, Midland and Amarillo, Texas, as well as Hobbs and Roswell, N.M., and and Lawton, Okla., the company says. Stephens joined Merrill Lynch in 2010 as a financial advisor, according to the press release.

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INVESTMENTNEWS

Sanctuary Wealth rolls out red carpet for breakaway brokers

Five deals in five months lift fledgling hybrid RIA to $5.5 billion

Oct 1, 2018

By Jeff Benjamin

Sanctuary Wealth has signed its fifth advisory team in as many months, bringing its total assets under to management to $5.5 billion.

May 17, 2018

INDIANAPOLIS — (BUSINESS WIRE) — May 17, 2018 — Jim Dickson, one of the most admired and successful leaders in the financial advisory industry, has announced the launch of Sanctuary Wealth, a new division of 110-year-old Noyes Group, LLC. Sanctuary, established as a compelling alternative to the traditional independent RIA model, offers accomplished Advisor teams the freedom to grow their practices free of wirehouse mandates, in control of their own success, and solely in the best interests of their clients. Presenting a distinct brand of partnered independence, Sanctuary offers Advisors comprehensive best-in-breed operational support, an expansive range of wealth management solutions for their high-net-worth clients, and a unique ownership opportunity with equity in Sanctuary and 100 percent ownership of their own practices.

Dickson’s extensive background in wealth management, and most recent experience managing a field force of thousands of brokers at Merrill Lynch, has equipped him with the insight and expertise to lead the country’s most successful Advisors serving the most sophisticated clientele, and to do so in a way that will shape the industry for decades to come. It has also equipped him to recognize the significance and potential that Sanctuary represents within the investment advisory arena. Dickson has joined as Sanctuary’s President and has taken a significant equity stake in Noyes. He has also agreed to assume the mantle of President of Noyes, overseeing all its affiliates, and has been appointed to the Board of Directors.

“Sanctuary Wealth will be shaped by Advisors for Advisors, providing a bespoke client experience,” says Dickson, President and Founder of Sanctuary. “Our select network of Advisors enjoys the advantages of ownership and autonomy while availing themselves of top notch resources that enable them to serve clients the way they’ve always dreamed: in their absolute best interest and with a comprehensive platform of world-class resources.”

Chris and Brian Cooke of Cooke Financial Group, Forbes’ 2018 Best-in-State Wealth Advisors for Indiana, also recent members of the Financial Times’ Top 400 Financial Advisors, and managers of more than $1.7 billion in assets under management, have also joined Sanctuary Wealth. After becoming affiliated with Noyes from Wells Fargo, the Cooke brothers have thrived in the partnered independence model.

“Joining Sanctuary is an incredible opportunity to take our practice even further,” says Chris Cooke. “Sanctuary offers us the freedom to run our practice in the way it’s already made us successful, while providing outstanding resources that will enable us to do even more for our valued clients in the future. As partners in Sanctuary, we are not only owners, we are also decision-makers with a true ‘seat at the table.’”

Partner-run and partner-led, Noyes’s Board of Directors includes client-facing Advisors whose collective voice helps shape the business. According to L.H. Bayley, Noyes’s Chairman of the Board, “When you join Sanctuary Wealth, you can be confident you are joining an exclusive firm of the most forward-thinking Advisors in the business.”

In full agreement, Dickson adds, “We are thrilled to open the doors to Sanctuary and its model of partnered independence. Our vision is to enable our elite network of Advisors to build the careers they’ve dreamed of with a true sense of entrepreneurship, transparency, and the highest levels of client service. We invite seasoned Advisors who might share our vision to learn more.”

About Sanctuary Wealth

Sanctuary Wealth brings together an elite group of wealth Advisors, selected for their experience, impressive compliance and performance records. These talented, highly experienced Advisors operate as fiduciaries, maintaining their clients’ best interests as their primary focus. Partnered independence ensures them comprehensive support in all aspects of serving clients and growing their businesses through affiliation with Noyes Group, LLC, a full-service investment firm headquartered in Chicago, with branches throughout the Midwest. Noyes, founded in 1908, is one of the oldest securities firms in Chicago. Through its subsidiaries, David A. Noyes & Company and Noyes Advisors, LLC, this employee-owned firm offers a comprehensive menu of products and services to individual and institutional clients.

Sanctuary Wealth
250 W 96th Street, Suite 300
Indianapolis, IN 46260

(833) 608-5514
(317) 975-7729

[email protected]
www.Sanctuarywp.com

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CONTACT: Westcott Associates Marketing & Media LLC
David C. Westcott
914-672-0892
[email protected]

PRIVATE BANKER INTERNATIONAL

Sanctuary Wealth snaps up Winthrop Capital Management

Sanctuary Wealth, part of Noyes Group, has acquired Indianapolis-based investment advisor Winthrop Capital Management.

Winthrop Capital Management was founded in 2007 by Greg Hahn and is currently said to have nearly $1bn in assets under management (AUM).

It offers management services of model portfolios, equity, high-grade and high yield fixed income portfolios for private clients and institutions.

It also provides income-oriented strategies, managing taxable and tax-exempt strategies to its clients.

Sanctuary president and founder Jim Dickson said: “Winthrop’s exceptional portfolio management capabilities, proprietary research, and model portfolio track record advance our platform for our current and future financial advisors.

“Adding Winthrop signals our commitment to our advisors to deliver a client-centric, best-in-class platform with a deep bench of experience.

“This addition represents the necessary next step in the evolution of our brand as a premier landing spot for wirehouse advisors looking to enhance and customise their client experience.”

Following the acquisition, Hahn will head the Investment Solutions Division for Sanctuary Wealth.

Also, he has been appointed as the chief investment officer for Noyes Group and will join the Sanctuary Wealth Board of Directors.

Noyes COO Matthew Reynolds said: “Adding Winthrop Capital Management enhances our advisors’ access to both outstanding investment management and a highly-respected Chief Investment Officer.

“Our advisors needed a first-rate platform, and Greg’s gifted and technologically adept team helps us deliver that.”

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