Sanctuary Wealth adds $1.5 billion Merrill team

Chappell Wealth Management is based in The Woodlands, Texas.

A team of advisors that managed almost $1.5 billion in assets at Merrill Lynch is joining Sanctuary Wealth, an Indianapolis-based aggregator, Sanctuary announced Friday.

The team, which will operate as Chappell Wealth Management in The Woodlands, Texas, includes Brent Chappell, Brad Chappell, Michael Mills and Spencer Carlson.

They’re joined in the move by three staff members: Chel Larkin, Jaymie Wendt and Brianna Warren.

Brent Chappell, a founder and managing director of Chappell Wealth Management, had been affiliated with Merrill since 2003, according to his BrokerCheck report. Brad Chappell, also a founder and managing director, was affiliated with Merrill since 2006.

Michael Mills joined Merrill since 2013 and earlier worked for a real estate private equity company. Spencer Carlson was a pension actuary before joining the Chappell team at Merrill in 2014.

[More: Dickson out as head of Sanctuary Wealth, ex-Ladenburg exec Malamed in]