Sanctuary Wealth partners with tru Independence to redefine wealth management landscape

Sanctuary Wealth, renowned for supporting a new generation of elite financial advisors, has announced the strategic acquisition of tru Independence, a distinguished enterprise based in Portland, Oregon. This transaction brings together two influential firms in the rapidly growing Registered Investment Advisor (RIA) channel, creating a powerhouse in the wealth management industry.

Details of the Merger

The newly formed partnership will see tru Independence, which supports 30 RIA firms managing $12.5 billion in client assets, join forces with Sanctuary Wealth. Post-acquisition, the combined entity will support around 120 independent wealth management firms managing over $42 billion in client assets across 30 states. This union is set to offer an unprecedented range of independent business model affiliation options and capabilities within the industry.

Sanctuary Wealth acquires tru Independence, enhancing its position in the wealth management industry and offering expanded services to elite financial advisors.

Leadership and Operational Synergy

Both firms will continue operating as distinct entities under their well-established brands, with current leadership teams intact. This strategy ensures the continuity of high-quality service and the unique value each firm brings to their clients. Adam Malamed, CEO of Sanctuary Wealth, highlighted the shared vision of the merger, “Together, the firms have an unprecedented opportunity to collectively redefine what it means to be a full-service, multi-channel independent wealth management enterprise.”

Empowering Elite Financial Advisors

The combination of Sanctuary’s multi-custodial, hybrid model and tru’s platform, which supports advisors who own their independent RIAs, creates a robust enterprise equipped to offer unbiased guidance and enhanced support to the industry’s most elite advisors. The merger is not only a testament to the firms’ shared commitment to partnered independence but also an effort to empower advisors with greater choice and control over their practices.

Strategic Growth and Industry Impact

This transformative acquisition is set to significantly enhance the support available to top-tier advisors, from those breaking away from wirehouses to those already independent. Sanctuary’s commitment to providing unparalleled freedom and flexibility to its partner firms is reinforced with this merger, further establishing both firms as leaders in the independent wealth management space.

This merger marks a pivotal moment in the wealth management industry, promising to elevate the level of service and options available to financial advisors and their clients, thereby shaping the future of independent wealth management.