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Press release content from Business Wire. The AP news staff was not involved in its creation.

Sanctuary Enters M&A Space Through Purchase of $280 Million RIA

October 28, 2019 GMT


Sanctuary Wealth, the premier destination for breakaway advisors has expanded its business strategy to include buying existing RIAs. NorthView Asset Management, in Austin, TX led by financial services industry veteran Richard Williams, will join Sanctuary Wealth as its first acquisition. The RIA brings Sanctuary Wealth’s assets under management to $3 billion since June, and more than $9 billion overall.

Founded in 1998, NorthView Asset Management serves both individuals and institutions. Its executive team, led by Williams, includes Lynn Skarren, Steven Sutton and Michael Janak.

“We are thrilled to be a part of Sanctuary Wealth and honored to be the first firm to join through acquisition. Through our partnership with Sanctuary, we recognize that we are deepening firm resources and enhancing offerings for our clients through the Partnered Independence model,” Williams said. “It’s an honor to be aligned with an industry leader whose vision of the independent space mirrors ours so precisely.”

“Today we are pleased to announce our presence in the M&A space with the addition of a terrific team. NorthView Asset Management has been a respected business for more than 20 years and was an obvious choice to be our first acquisition. They are a successful firm that is in growth mode and they fit the profile of advisor we look to attract here at Sanctuary,” said Jim Dickson, Founder and CEO of Sanctuary Wealth.

“We are delivering on our business plan of going to market with a barbell approach to working with advisors: launching breakaways and being the ultimate destination for existing RIAs. How we execute in M&A will be different than other participants in this space. The market is highly saturated with buyers causing inflated values as firms try to buy market share or revenue. Our whole model is predicated on quality, growth-oriented firms, that see the value of a strategic partner. The profile of advisor does not change for us whether you’re a breakaway advisor or an existing RIA. It’s a business discussion with the advisor and we are happy to engage with them either way.”

More information about NorthView Asset Management may be found at NorthViewAM.com.

About Sanctuary Wealth

Sanctuary Wealth, a $9 billion partner-owned global wealth management firm, brings together an elite network of wealth advisors of the highest caliber, handpicked for their experience, fiduciary mindset, and unparalleled performance levels. These talented advisors operate with their clients’ best interests as their primary focus, backed by Partnered Independence℠. Partnered Independence℠ ensures Sanctuary Wealth advisors have comprehensive support in all aspects of serving their clients and growing their businesses. Through its subsidiaries, Sanctuary Securities and Sanctuary Advisors, Sanctuary Wealth offers a comprehensive menu of products and services to individual and institutional clients.

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SOURCE: Sanctuary Wealth

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PUB: 10/28/2019 10:11 AM/DISC: 10/28/2019 10:11 AM