Sanctuary Wealth, an Indianapolis-based aggregator with $25 billion in assets, said a Merrill Lynch team managing $1 billion in client assets has joined the firm.
Chicago-based Burnham Harbor Private Wealth includes managing partners James Corrigan, David Holtkamp, Sean Jucas and Kenneth Shay, as well as staffers Basel Alwawi and Cindy Hehr.
"As independent advisors, we can truly focus on what's important to our clients," Shay said in a statement. "Sanctuary will allow us to be more creative in how we acquire clients or books of business, as well as how we staff our office and plan for internal succession.”
Corrigan has 17 years of experience, according to his BrokerCheck report, and had been affiliated with Merrill Lynch since 2009. Holtcamp joined Merrill in 2006 and Jucas had been affiliated with Merrill since 2007. Kenneth Shay has 50 years of experience, according to BrokerCheck, and had been affiliated with Merrill since 2007.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
