The new platform will serve domestic and offshore advisors who serve Latin American families. Sanctuary said it expects to open offices throughout Latin America in the coming months.
Sanctuary Wealth, the US wealth management house, is pushing into the Latin American market by launching a new business to cover that segment.
Sanctuary Global will be based in Miami. The president of Sanctuary Securities, Bob Walter, will relocate to the Florida city to help lead the process. Vince Fertitta, president of Sanctuary Advisors, will co-lead the subsidiary.
“Not only are we launching Sanctuary Global and opening our Miami office, but we have a record pipeline of new partners and growth that we are excited to onboard in the coming weeks and months," Jim Dickson, chief executive and founder of Sanctuary Wealth, said.
"Over the last few years, international advisors have largely felt unappreciated in the wirehouse environment, as their parent companies have looked to exit that business," Dickson continued. "It's a vital and growing segment of the world market with terrific advisors and great clients.”
The new platform will serve domestic and offshore advisors who serve Latin American families.
Sanctuary said it expects to open offices throughout Latin America in the coming months.
The move is part of a number of developments at the Sanctuary group taking place at a time of busy M&A and corporate finance activity. In November last year, it unveiled a $50 million investment from Azimut Group, a public asset management company that trades on the Milan stock exchange. That move has accelerated the build-out of the Sanctuary platform. At present, the Sanctuary Wealth network includes 45 partner firms across 18 states with over $15.0 billion in assets under advisement.