Advisor moves: Veteran UBS ensemble managing $2B splits to Sanctuary

Sanctuary Wealth and Raymond James have announced new additions to their growing advisor networks, with Sanctuary welcoming a $2 billion breakaway team from UBS as Raymond James scoops up a pair of defectors from two rival broker-dealer firms.

Sanctuary adds $2 billion UBS breakaway firm

On Friday, Sanctuary Wealth announced it has welcomed 1280 Financial Partners, a multistate team managing approximately $2 billion in client assets, to its partnered independence platform.

The multigenerational ensemble, which broke away from UBS, is also receiving a minority investment from Sanctuary through its Strategic Capital Partnership program.

The team includes managing partners Tom Burt, Duane Ohly, Charlie Todd, and John McGee, along with senior portfolio managers Brett Kinzel, John Petracco, Carol Powell, and Richard Allen Flippo.

Its ofices are located in Fort Myers and Miami, Florida; Sandusky, Ohio; and Augusta, South Carolina. The name 1280 Financial Partners references the 1,280-mile distance between its founding offices in Fort Myers and Sandusky.

The team serves a diverse client base of high- and ultra-high-net-worth individuals, business executives, athletes, entertainers, and family offices. Its institutional clients include corporations, nonprofits, and endowments.

“Our firm is no longer trying to fight for our clients while competing against shareholder interests,” Burt said of the move in a Friday statement. “It’s great to have a partner who is as focused on growing our enterprise value as we are.”

The firm also specializes in consulting and asset management for insurance-related entities, including captives and reinsurance vehicles. Through Sanctuary’s broader network, the group will offer these capabilities to peer partner firms.

Sanctuary now supports more than 120 partner firms across 30 states, with approximately $50 billion in assets on its platform. The network expanded its affiliation models last year through its May 2024 acquisition of tru Independence in Oregon.

Raymond James welcomes Maki Financial in New Hampshire

On the broker-dealer side, Raymond James Financial Services has added advisor Martha Maki and her team to its independent advisor channel.

Based in Claremont, New Hampshire, Maki previously managed more than $190 million in client assets at Edward Jones. She is joined by Kayla Rivet, who was formerly with LPL, and office manager Pamela Shattuck.

Maki, who had launched her career in 2003 and established a new Edward Jones branch in Claremont, said the move reflects her vision for deeper client engagement.

“We look for ways to use financial planning to improve our clients’ overall well-being and guide them through the steps to better align their finances with their needs and life purpose,” she said in a statement announcing the move.

Rivet entered the advisory space in 2022 following a career at a local community bank, where she held several roles including client service associate in the financial services unit.

According to Raymond James, the new team now operating as Maki Financial serves a range of clients including business owners, women investors, LGBTQ+ individuals, and those planning for or in retirement.

Maki Financial's launch in New Hampshire comes shortly after Raymond James onboarded a $285 million advisor duo from Wells Fargo, expanding its independent channel in Arkansas.