Advisor teams managing almost $2 billion in client assets have taken the leap into independence, boosting the AUM of Sanctuary Wealth and Raymond James.
In Orange County, California, Dial Square Private Wealth joins Sanctuary Wealth from UBS with $1.2 billion in client assets. Founders Jim Chiate and Tony Guinane, CFP, CRPC, had been with UBS since 2013 and first worked together at Merrill Lynch 10 years before that.
"Going independent was not a quick decision," says Chiate. "While we could have easily moved to another traditional wirehouse or private bank, once we understood the evolution of the independent space over the last decade, we couldn't ignore the value independence would provide to our clients.”
The founders have chosen Charles Schwab and Goldman Sachs as custodians and will be joined in their firm by Owen Galasso, who will serve as vice president, registered operations manager, and Nazgol Nekoomaram, serving as a vice president, wealth associate.
Over the past 12 months, Sanctuary has welcomed 16 new partner firms representing more than $10 billion in client assets and its network now includes more than 125 partner firms in 32 states, with over $55 billion in assets on and in transition to platform.
Meanwhile, Raymond James has welcomed two teams to its independent advisor channel, Raymond James Financial Services.
In Wallingford, Connecticut, Jeremy Lobo, Chris Pascale and Michael “Mike” Mendillo join as Lobo & Pascale Wealth Management, LLC, having managed more than $300 billion in client assets with Commonwealth Financial Network.
Last week, RJFS welcomed two advisor teams previously with Commonwealth with a total of around $387 million AUM.
Their practice was founded by Lobo and Pascale in 2001 and have been affiliated with Commonwealth throughout. They are joined by director of business operations Jordan True and client relationship specialist Laura Sicignano.
RJFS has also attracted a $280 million team in Hoover, Alabama as financial advisors Tim Bembry, CFP, and Edgar Acosta, CRPC, jump ship from Wells Fargo, joined by office manager Haley Edwards.
Bembry was with Wells Fargo for 30 years with Acosta racking up 17 years at the wirehouse.
“At this phase of my career, what matters most to me is having the independence and freedom to serve clients with common-sense advice that is timely, practical and truly in their best interest, and Raymond James provides just that,” says Bembry.
Firms are facing increasing scrutiny over whether they can be held responsible for losses by clients whose ability to understand their investments has been compromised.
Decision deepens the two firms’ decade-long relationship
Linqto Inc. was one of the first tech platforms to promise access to small investors into the high-risk, high-reward world of private investments.
Since Vis Raghavan took over the reins last year, several have jumped ship.
Chasing productivity is one thing, but when you're cutting corners, missing details, and making mistakes, it's time to take a step back.
Stan Gregor, Chairman & CEO of Summit Financial Holdings, explores how RIAs can meet growing demand for family office-style services among mass affluent clients through tax-first planning, technology, and collaboration—positioning firms for long-term success
Chris Vizzi, Co-Founder & Partner of South Coast Investment Advisors, LLC, shares how 2025 estate tax changes—$13.99M per person—offer more than tax savings. Learn how to pass on purpose, values, and vision to unite generations and give wealth lasting meaning
