Sanctuary Wealth, an Indianapolis-based wealth management firm with more than $20 billion in assets, said it's acquired a minority stake in EverNest Financial Advisors, a registered investment adviser that’s also based in Indianapolis.
EverNest has close to $400 million in assets and two team members, Frank Esposito and Niki Woodworth.
Esposito has 30 years of experience, having started as an intern at Merrill Lynch in 1992. He worked with institutional investors at Goldman Sachs and Strong Capital Management and in investment management at JPMorgan and UBS before becoming an adviser, and had been affiliated with Windsor Wealth Management since 2015.
Woodworth joined Windsor in 2017.
In late 2020, an Italian investment management company, Azimut Group, invested in Sanctuary, which the firm said would enable it to make more acquisitions. Sanctuary currently has partner firms in 23 states.
As Goldman Sachs tightens rules on event contract trading, RIAs and hedge funds are weighing their own policies
Meanwhile, Wells Fargo lures defectors from UBS and JPMorgan to expand in the East Coast, while another bank aligns itself with RayJay's financial institutions division.
New research suggests AI-exposed workers over 55 are leaving jobs more often than before ChatGPT’s rise.
Agentic AI is landing in trading, treasury and wealth management roles across major banks, with advisory functions as the next frontier.
Wells Fargo affiliate and women-focused wealth firm both promote leadership as they scale advisor support.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
