Deals & Moves: Sanctuary Lands Father-Son Merrill Breakaway

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Sanctuary Wealth, a Miami-based hybrid registered concern advisor with much than $58 cardinal successful lawsuit assets, added a father-son breakaway squad from Merrill Lynch, based successful Paoli, Pa. It’s the 2nd squad from Merrill that Sanctuary, which was founded by erstwhile Merrill advisor Jim Dickson, has announced successful caller months.

Valen Private Capital and its founder, John Durham, near Merrill aft much than 22 years with the wirehouse, wherever helium was a elder vice president. He brings his steadfast to Sanctuary to negociate much than $477 cardinal successful assets from a radical of ultra-high-net-worth families, according to an announcement.

“As I evaluated independence, I wanted a spouse that would let maine to physique Valen Private Capital astir my clients—not unit my clients into idiosyncratic else’s model,” Durham said. “Sanctuary offered the operation of flexibility, experienced enactment and UHNW resources I was looking for, portion allowing maine to clasp power of the steadfast I americium building.”

He is joined by lad Benjamin Durham, who had been a wealthiness absorption specializer astatine Merrill, based successful New York, arsenic a spouse and manager of fiscal planning, and Lisa Downey, manager of operations.

Valen volition beryllium utilizing Goldman Sachs arsenic its custodian, according to its website.

Waverly Advisors Acquires WealthPlans and Cooley & Associates

Waverly Advisors, a Birmingham, Ala.-based RIA, has acquired WealthPlans and its affiliate Cooley & Associates, adding astir $250 cardinal successful assets and marking the firm’s 2nd determination successful Maryland. With this deal, the acquisitive RIA present has $35.5 cardinal successful lawsuit assets.

Founded by President Brent Cooley, the Frederick, Md.-based firms supply fiscal planning, concern absorption and tax-efficient strategies, according to an announcement.

The acquisition marks Waverly’s 33rd transaction since accepting an equity concern successful December 2021 from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform.

Waverly manages assets for high-net-worth individuals and families, firm status plans, trusts, endowments and institutions, and has 51 offices crossed the U.S. and a squad of implicit 450 professionals.

Soltis Investment Advisors Acquires Ohio-Based Artifex Financial Group

Soltis Investment Advisors, a St. George, Utah-based RIA with astir $14 cardinal successful lawsuit assets, has acquired Artifex Financial Group, adding 3 offices crossed Ohio and much than $325 cardinal successful lawsuit assets.