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A group of advisors in Indianapolis has damaged away from Stifel Monetary to launch their very own enterprise with Sanctuary Wealth’s help. M&Okay Legacy Wealth, previously the Tanner Wealth Administration Group, has joined Sanctuary’s “partnered independence” mannequin, bringing over $1 billion in shopper belongings from Stifel.
The group is led by founders and managing companions J. Miller and Chad Keller, they usually’re joined by L. Gene Tanner, a long-time advisor since 1958. Wealth advisors Christy Swindel and Suzanne Marshall, are additionally transferring over, together with three associates and operations help employees.
M&Okay can be based mostly out of Sanctuary’s Indianapolis company places of work, and it represents the platform’s third $1 billion multi-generational companion agency within the Indianapolis space.
“We have now been engaged in a multi-year technique of evaluating the evolution of the business to find out the very best mannequin during which to serve our shoppers and develop our enterprise,” Miller stated in an announcement. “After a heat introduction from one other of their Indianapolis-based, nationally acknowledged companion companies, we felt assured that Sanctuary’s strategy and platform might ship one thing nicely past what might be present in conventional banks and brokerage companies. The liberty, flexibility and progressive help offered by Sanctuary by means of its open structure mannequin made them the correct companion on the proper time for us and our shoppers.”
M&Okay serves enterprise homeowners, pre-retirees and retired shoppers, offering them with complete wealth administration companies.
Since launching 5 years in the past, Sanctuary has grown into one of many nation’s largest pure RIA platforms, primarily by means of the recruitment of wirehouse breakaways. As we speak, the agency oversees round $30 billion in shoppers’ belongings by means of companion companies in 27 states.
Final February, Sanctuary founder Jim Dickson was abruptly terminated, with the board of administrators naming Adam Malamed, a member of the board, to interchange him as CEO. On the MarketCounsel Summit in December, Dickson spoke out for the primary time since his departure about his time at Sanctuary and classes realized on the helm of the corporate.
Sanctuary is majority-owned by Azimut Group, a European-based asset administration agency. In July 2022, Sanctuary introduced it closed on a cope with New York-based Kennedy Lewis Funding Administration, a credit score supervisor, to obtain $175 million in financing within the type of a convertible be aware.
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