Sanctuary Wealth adds estate, M&A and marketing leaders to boost partner support

As the river of advisor movement continues to flow from the wirehouse to the independent channel, Sanctuary Wealth is adding depth to three of the areas indie advisors say matter most right now: estate planning for wealthy families, mergers and acquisitions, and marketing muscle.

The Miami-based hybrid RIA platform said Wednesday it has hired Harry Drozdowski as managing director of advanced estate and wealth planning, Reilly Cornell as vice president of mergers and acquisitions, and Kelly LaPalio as vice president of advisor growth marketing.

"We are building for where our partner firms are going, not simply where they are today," said Adam Malamed, chief executive officer of Sanctuary Wealth.

Read more: Advisors better not give up on organic growth even if M&A stays hot

Drozdowski joins after nearly two decades in wealth planning and private legal practice serving ultra-high-net-worth families and family offices. A Harvard Law School graduate, he most recently served as executive director and private wealth strategist at Wells Fargo, where he advised the firm's largest relationships on estate, tax and wealth planning strategies. At Sanctuary, he will work directly with partner firms on trust, estate and succession questions and connect advisors with specialists in tax planning, philanthropic planning and business-owner solutions.

Cornell arrives from Bluespring Wealth Partners, Kestra's fee-only RIA channel, where she served as a principal on the M&A team and evaluated more than 100 acquisition opportunities, executing more than 15 transactions across the wealth management industry. Earlier in her career she worked in Citi's investment banking division, advising energy companies on mergers, strategic transactions and capital raises. She's coming to Sanctuary to source and execute deals alongside Josef Rogers, who was promoted to director of corporate development earlier this year after joining the firm in 2024.

LaPalio, who brings more than two decades of experience from FocusPoint Solutions, Avantax and Hightower, will design organic growth programs across Sanctuary's national network, working with advisors on positioning, digital marketing and lead generation.

Malamed said the new hires "bring the experience and perspective to help advisors address more complex client needs, pursue new avenues for growth and prepare their businesses for what comes next," he said.

Sanctuary, which recently posted a record year as a hybrid RIA platform for elite wirehouse breakaways, is deepening its bench as advisor growth trends continue to favor the independent channel. Cerulli projects headcount in the wirehouse channel will decline 5.7% from 2025 through 2028, compared to 12% growth for independent RIAs and 4.7% at independent broker-dealers. Separately, it found roughly seven-tenths of advisors would hop to an independent channel if they were to switch firms.

Read more: RIA firms are changing the game for advisor recruitment: Cerulli

The hires also land as independent advisory firms face growing pressure to formalize their service offerings and business expansion models, not simply rely on markets to carry growth. Schwab's 2026 RIA Benchmarking Study found that over the past decade, firms have expanded their services to include financial planning (cited by 96% of firms), tax planning (88%), and estate planning (73%). 

The survey also found 24% of firms over $250 million are actively seeking to buy another RIA, while 44% are looking to bring on an advisor with a book of business. Among the motivations for inorganic growth, firms pointed to increased AUM, revenue, and client growth (91%), talent acquisition (65%), and achieving scale (55%). 

When it comes to marketing, Schwab found 69% of top-performing firms have a documented marketing plan, which by at least one measure drove 127% more new client assets compared to those without a codified marketing strategy. 

Research from Cerulli highlights the urgency of bringing new clients through the door, with RIAs facing annual attrition between 2% and 5% of total assets under management – even before counting client departures – as aging clients move into decumulation and withdrawal mode.

"Without a dedicated business development focus, RIAs immediately put themselves at a disadvantage, as client assets naturally tend to decline throughout the year," said Stephen Caruso, director at Cerulli. "In many regards, this can dampen a firm's ability to expand."