A Fort Worth-based team with $400M in client assets has joined the Sanctuary Wealth network to go independent.
Larry Milton, a seasoned financial advisor with 37 years of experience, has launched Fossil Rock Private Wealth and joins Sanctuary through a strategic partnership with mFORCE Capital, a fast-growing partner firm led by former Merrill Lynch executive Bradley Bruce as CEO.
Milton was most recently affiliated with Truist Investment Services and his latest career move reunites him with Bruce after decades of shared experience.
“Larry and I enjoy a 35-year business and personal relationship that began way back in our Merrill days,” says Bruce. “We trust each other implicitly and have similar investment philosophies and approaches to serving clients. He’s been extremely successful over his career, and when he decided it was time to go independent, I jumped at the chance to work with him again as a partner.”
Founded four years ago, mFORCE Capital currently oversees $1.9 billion in client assets and has been a model for rapid growth within the Sanctuary network. Fossil Rock’s addition marks another milestone for mFORCE’s inorganic expansion and will operate as a separate entity under the mFORCE umbrella, with Milton recognized as co-founder.
Milton says that independence was ultimately the only way for him and his team – senior wealth advisor Robert Brown, senior client service associate Erin Smith, and client service associate Linda Castle – to take control of the client experience.
“It’s a small industry, and the people you work with matter. I trust Brad[ley Bruce] and the executive leadership team at Sanctuary. We speak the same language,” he says. “They understand our business and are committed to helping us achieve our goals of providing more family office services, broader support for small businesses, and enhanced wealth management capabilities.”
The transition of Milton and his team from Truist aligns with Sanctuary’s broader strategy to support high-performing advisor teams through a flexible, infrastructure-rich platform.
“Larry built a great business over 37 years in the wirehouse and continued to grow it at Truist, but was looking to bring more scale, resources and flexibility to his high-net-worth client relationships,” said Vince Fertitta, president of Wealth Management at Sanctuary Wealth. “I remember Larry from my time at Merrill and hold him in the highest regard. I’ve enjoyed facilitating Larry and Brad's formalization of this exciting business relationship.”
Sanctuary has seen some strong performing teams switch to its network this year including $2 billion UBS breakaways 1280 Financial Partners, Bernard Reed who leads Velorum Wealth Management, a $580 million AUM firm formerly with BMO Private Wealth, and Hillguard Wealth Management which joined Sanctuary from Truist Wealth with around $700 million AUM.
With this latest addition, Sanctuary continues to expand its national footprint. The firm now includes over 125 partner firms in 32 states and supports more than $50 billion in assets.
IRAs now hold nearly twice the assets of 401(k) plans — and most of that money didn't arrive through annual contributions.
A new survey finds that many women prioritize financial security but continue to leave savings in accounts that may not keep pace with inflation.
Roundhill, Bitwise and GraniteShares funds remain on hold while the agency weighs how novel ETFs should be regulated.
"Shares of alternative assets managers have lagged this year as investors grow wary of private-credit exposure."
The fintech platform is touting a new AI-free Planning Observations feature, which draws on IRS tax records to uncover opportunities for advisors.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
