Home Life Insurance Sanctuary Wealth Picks Up $1B Advisory Workforce From Merrill

Sanctuary Wealth Picks Up $1B Advisory Workforce From Merrill

Sanctuary Wealth Picks Up $1B Advisory Workforce From Merrill


What You Must Know

  • Burnham Harbor Personal Wealth has joined Sanctuary Wealth.
  • The workforce focuses on serving to multi-generational households obtain and keep their wealth and way of life objectives.
  • The Sanctuary Wealth community now has about $25 billion in property beneath advisement, Sanctuary mentioned.

Hybrid RIA Sanctuary Wealth picked up a Chicago-based advisory workforce from Merrill Lynch with $1 billion in shopper property, Sanctuary mentioned Friday.

Burnham Harbor Personal Wealth consists of managing companions James M. Corrigan, David Holtkamp, Sean M. Jucas and Kenneth Shay, in addition to wealth associates Basel Alwawi and Cindy Hehr.

Corrigan has been a wealth advisor with Merrill for greater than 17 years, serving non-public and institutional purchasers. Holtkamp joined Merrill in 2006 and has been a wealth advisor for 17 years. Jucas has been a wealth advisor at Merrill for the previous 16 years and earned the Sports activities & Leisure Accredited Wealth Administration Advisor designation. All three are licensed monetary planners.

Shay began his profession within the securities enterprise in 1966 and has been a securities analyst, institutional portfolio supervisor, institutional fairness salesperson and, since 1985, a monetary advisor with Morgan Stanley after which Merrill.

Merrill didn’t instantly reply to a request for remark about shedding the advisor workforce.

The workforce has “run an unbelievable enterprise for years by catering to the distinctive wants of the multi-generational purchasers they serve,” in response to Adam Malamed, Sanctuary CEO. “Their mixture of subsequent era and veteran advisors is strictly what’s wanted to achieve the wealth administration house going ahead,” he mentioned in a press release.

He added: “We look ahead to giving them the liberty and suppleness, together with the assist they should meet their objectives of rising their enterprise organically and thru acquisitions.”

Burnham has been offering full wealth administration options to high-net-worth households, enterprise homeowners, entrepreneurs, executives, docs, skilled athletes and philanthropists, in response to Sanctuary.

The workforce “focuses on serving to multi-generational households obtain and keep their wealth and way of life objectives by means of their experience in monetary steerage, legacy implementation, property coordination, threat administration methods, retirement way of life continuation, tax minimization and transition counseling,” Sanctuary added.



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