Sanctuary Wealth Adds $800M Team from Merrill Lynch
Event summary
- Sanctuary Wealth welcomes Soteris Private Wealth, a $800M AUM team from Merrill Lynch.
- Founders Josh Erickson and Rob Montierth cite independence and ownership as key motivators.
- Soteris specializes in high-net-worth clients with complex wealth management needs.
- Sanctuary's multi-custodial platform and ownership model were decisive factors.
- This is the latest wirehouse breakaway team to join Sanctuary's Partnered Independence model.
The big picture
The move underscores the ongoing shift of elite wirehouse advisors toward independence, seeking greater control and flexibility. Sanctuary's ability to attract such teams reflects its growing appeal as a platform for advisors balancing client service with enterprise value. The $800M AUM addition further solidifies Sanctuary's position in the competitive RIA space.
What we're watching
- Wirehouse Exodus
- Whether Sanctuary can sustain its momentum in attracting high-AUM wirehouse teams.
- Platform Scalability
- How Sanctuary's open-architecture platform evolves to support diverse partner firms.
- Enterprise Value
- The pace at which breakaway teams build meaningful equity under Sanctuary's model.
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