Market Intelligence · Firm movement
Sanctuary Wealth advisor arrivals: where 34 came from
Where they came from, who left, and how Sanctuary Wealth compares with its peers, from SEC registration records through .
Trailing 12 months ending
- Arrivals34Joined from another firm.
- Departures22Left for another firm. −27% to −24% on the year before (29).
- Net competitive movement+12Arrivals minus departures. People entering or leaving the industry are not counted.
- Departure rate6.1%Of the 359 at Sanctuary Wealth on , when the period began.
Counts are investment adviser representatives (IARs) in SEC IAPD records, including supervisory and administrative registrants and excluding representatives registered only as brokers. Every move counted is a competitive move. Year-over-year ranges use the same 3.6% prior-count allowance for every firm. How these figures are counted
The short answer
In the 12 months to , 34 investment adviser representatives joined Sanctuary Wealth from another firm and 22 left, for net competitive movement of +12. Merrill Lynch was the largest source (10, 29.4% of those who joined), followed by Edward Jones (3) and Morgan Stanley (3). Sanctuary Wealth’s departure rate was 6.1% of the 359 there when the period began; at the four peers on this page it ran from 3.9% to 6.0%.
Sanctuary Wealth at a glance
- Owner
- Sanctuary Wealth Group, LLC, in which Azimut Holding S.p.A., through Azimut UK Holdings Ltd. and AZ US Holdings Inc., holds at least half and less than three quarters of the Class A units Form ADV,
- Headquarters
- Miami, Florida Form ADV,
- Investment adviser representatives (IARs)
- 398 registered SEC IAPD records, as of
- Regulatory assets under management
- $34.9 billion Form ADV,
- Main custodians
- Pershing LLC, Charles Schwab & Co., Inc., National Financial Services LLC, Pershing Advisor Solutions LLC and Folio Investments, Inc. Form ADV,
- Broker Protocol
- Member, joined member list,
Owner, headquarters, assets and custodians are from the Form ADV of Sanctuary Advisors, LLC, Sanctuary Wealth’s SEC-registered investment adviser, as filed on the date shown. Regulatory assets under management are the securities portfolios the adviser continuously supervises or manages, as the firm reports them; they are not total client assets. Custodians are those Form ADV names for its separately managed accounts, largest first. Broker Protocol status is from the member list its administrator, J.S. Held, publishes. The IAR count is from this page’s SEC IAPD snapshot and covers every registration in the firm family whose moves the page counts.
Where those who joined came from
34 investment adviser representatives joined Sanctuary Wealth from another firm in the same period. Merrill Lynch, Edward Jones and Morgan Stanley together accounted for 47.1% of them.
| # | Firm | Channel | IARs | Share of those who joined |
|---|---|---|---|---|
| 1 | Merrill Lynch | Wirehouse | 10 | 29.4% |
| 2 | Edward Jones | National Broker-Dealer | 3 | 8.8% |
| 3 | Morgan Stanley | Wirehouse | 3 | 8.8% |
| 4 | Ameriprise | National Broker-Dealer | 2 | 5.9% |
| 5 | UBS | Wirehouse | 2 | 5.9% |
The other 14 came from 14 other firms. Firms with the same count are listed alphabetically.
Where those who left went
CAPTRUST, Tenet Wealth Partners and Fidelity together received 45.5% of the investment adviser representatives who left Sanctuary Wealth.
| # | Firm | Channel | IARs | Share of those who left |
|---|---|---|---|---|
| 1 | CAPTRUST | RIA | 5 | 22.7% |
| 2 | Tenet Wealth Partners | Not classified | 3 | 13.6% |
| 3 | Fidelity | Custodian / Direct Advisory | 2 | 9.1% |
| 4 | Savvy | Not classified | 2 | 9.1% |
The other 10 went to 10 other firms. A firm is named only when two or more people moved there. Firms with the same count are listed alphabetically. Channel is the destination's operating model in Continuum's firm classification; a firm with entities in two channels shows both, and “Not classified” means the firm is outside the classification.
Departures by quarter
Investment adviser representatives who left Sanctuary Wealth in each of the last eight calendar quarters. Calendar quarters overlap the trailing period only in part, so they do not add up to its count. The latest, Q3 2026, is provisional: registrations for moves late in a quarter keep arriving for weeks.
| Quarter | Departures | Status |
|---|---|---|
| Q4 2024 | 2 | Complete |
| Q1 2025 | 13 | Complete |
| Q2 2025 | 9 | Complete |
| Q3 2025 | 3 | Complete |
| Q4 2025 | 3 | Complete |
| Q1 2026 | 4 | Complete |
| Q2 2026 | 7 | Complete |
| Q3 2026 | 5 | Provisional |
Who leaves
- 2.7 yearsMedian time at Sanctuary Wealth before leaving, at the registration entity they left.
- 31.8%Share of those who left with ten or more years in the industry by the data date.
- 36%Moved with colleagues: 8 of the 22 who left were among three or more who left Sanctuary Wealth for the same firm, in the same state, each within three days of the one before. Shuffled arrival dates give 1%. Timing in the record is not a confirmed team.
Channel of the firms they joined
Investment adviser representatives who left Sanctuary Wealth, by the operating model of the firm they joined.
Where those who left are based
| # | State | Departures | Share of placed departures |
|---|---|---|---|
| 1 | North Carolina | 5 | 22.7% |
| 2 | Illinois | 3 | 13.6% |
| 3 | New Jersey | 3 | 13.6% |
| 4 | Texas | 3 | 13.6% |
| 5 | Ohio | 2 | 9.1% |
All 22 departures are placed in a U.S. state or Washington, D.C. Each person is placed in the state with most of their registered branch locations in the current record, with a fixed rule for ties. People with no branch location on file are placed by their registration state, or shown as Multi-State when registered in several; Multi-State people are not in any state’s count. A departure placed in a state is a change of firm, not a relocation.
Sanctuary Wealth and its peers
The same measures, on the same definitions and dates, for Hightower, Steward Partners, NewEdge and Rockefeller.
| Firm | IARs at the start | Left | Departure rate | Change on the year before | Joined | Net competitive movement | Median tenure of those who left | Share with ten or more years in the industry |
|---|---|---|---|---|---|---|---|---|
| Sanctuary Wealth | 359 | 22 | 6.1% | −27% to −24% | 34 | +12 | 2.7 years | 31.8% |
| Hightower | 933 | 56 | 6.0% | +42% to +47% | 65 | +9 | 2.4 years | 30.4% |
| Steward Partners | 411 | 22 | 5.4% | 7 the year before | 74 | +52 | 8.1 years | 81.8% |
| NewEdge | 501 | 30 | 6.0% | +3% to +7% | 94 | +64 | 1.6 years | 56.7% |
| Rockefeller | 864 | 34 | 3.9% | 17 the year before | 147 | +113 | 1.6 years | 38.2% |
Departure rate is departures divided by IARs at the start of the period. Changes on the year before are shown as about flat or as a range; see the method below. Where either year has fewer than 20 departures, the year-before count is shown instead.
Two patterns worth understanding
For every investment adviser representative who left for a competitor, about 1.5 joined from another firm.
In the 12 months to , 34 joined and 22 left. This doesn’t establish why individuals moved, or whether Sanctuary Wealth’s total headcount rose.
Departures aren’t limited to newer advisors.
31.8% of those who left had ten or more years in the industry, and the median time at Sanctuary Wealth before leaving was 2.7 years.
The record shows where people went. Whether a different model fits your practice depends on your clients, your team and what you want to build, and staying can be the right answer.
What the record cannot tell you
The SEC registration record shows that an investment adviser representative’s registration moved from one firm to another, and when. It does not say why. There is no field for reasons, and this page has no sourced reporting on why people left Sanctuary Wealth.
The record also leaves out people who left the industry altogether, representatives registered only as brokers, the clients or assets that moved, and whether a move worked out for the person who made it.
Explore the wider movement picture
Sanctuary Wealth is one part of a larger picture. AdvisorWire™ shows which firms are gaining and losing advisors, and how movement differs across firms and states.
Questions and answers
How many advisors joined Sanctuary Wealth in the last 12 months?
34 investment adviser representatives joined Sanctuary Wealth from another firm in the 12 months to , and 22 left, for net competitive movement of +12.
Where do advisors joining Sanctuary Wealth come from?
Merrill Lynch (10) was the largest source, followed by Edward Jones (3) and Morgan Stanley (3). Together they accounted for 47.1% of those who joined.
Who owns Sanctuary Wealth?
Sanctuary Advisors, LLC, Sanctuary Wealth’s SEC-registered investment adviser, is owned by Sanctuary Wealth Group, LLC, in which Azimut Holding S.p.A., through Azimut UK Holdings Ltd. and AZ US Holdings Inc., holds at least half and less than three quarters of the Class A units, according to its Form ADV filed .
How many advisors does Sanctuary Wealth have?
398 investment adviser representatives (IARs) were registered with Sanctuary Wealth in SEC IAPD records as of . The count includes supervisory and administrative registrants and leaves out representatives registered only as brokers, so it can differ from the advisor headcount Sanctuary Wealth reports.
How much does Sanctuary Wealth manage?
Sanctuary Wealth’s Form ADV, filed , reports $34.9 billion in regulatory assets under management: the securities portfolios its adviser, Sanctuary Advisors, LLC, continuously supervises or manages. That is not the same as total client assets, which firms count in their own ways.
How many advisors left Sanctuary Wealth in the last 12 months?
22 investment adviser representatives left Sanctuary Wealth for another firm in the 12 months to : 6.1% of the 359 registered there when the period began. Over the same months 34 joined from other firms, for net competitive movement of +12.
Where do Sanctuary Wealth advisors go?
CAPTRUST (5) received the most, followed by Tenet Wealth Partners (3) and Fidelity (2). Together they took 45.5% of those who left.
Are more advisors leaving Sanctuary Wealth than a year ago?
Fewer: 22 left, against 29 in the 12 months before. Allowing for people missing from the year-before count, the change is −27% to −24%.
How long had advisors been at Sanctuary Wealth before leaving?
The median was 2.7 years at the registration entity they left, and 31.8% had ten or more years in the industry.
Why do advisors join or leave Sanctuary Wealth?
The SEC record does not say. It shows that a registration moved from one firm to another and when. It has no field for reasons, and this page has no sourced reporting on why people joined or left Sanctuary Wealth.
How these figures are counted
- Who is counted
- Investment adviser representatives (IARs) in the SEC’s Investment Adviser Public Disclosure (IAPD) records, including supervisory and administrative registrants, so a count can exceed the advisor headcount a firm reports. Representatives registered only as brokers are not included. Exact counts here are of IARs; general statements say advisors.
- A competitive move
- A registration that moved to a different firm, with brand variants rolled up to their operating family. Moves within a family, conversions and rebrands are excluded, as are confirmed corporate events and returns after a gap of more than 180 days. Each person counts once, at their latest move in the period.
- Net competitive movement
- Arrivals from other firms minus departures to other firms, on the rules above. People entering or leaving the industry are not counted.
- Period
- to , by the date the person registered with the new firm. Filings for the latest weeks are still arriving, so recent counts can rise slightly. Published .
- Departure rate
- Departures divided by the IARs at the firm when the period opened on , reconstructed from registration dates in today’s record. People who have since left the industry are missing from it, so the rate reads slightly high. People later moved by a confirmed corporate event are left out of the starting count, as in Firm Churn.
- Today’s count and the starting count
- Sanctuary Wealth has 398 IARs in today’s record and had 359 at the start of the period. Today’s count includes 19 people whose first registration began on or after , and the starting count is rebuilt from today’s record, which no longer includes people who have since left the industry.
- The year before
- to , rebuilt from today’s record on the same rules. It has lost people who have left the industry since, so it reads low. A change under 5% either way is reported as about flat; a larger one as a range, from the change after raising the year-before count by 3.6% to the raw change. When either year has fewer than 20 departures, both counts are given and no percentage.
- Quarters
- Calendar quarters, each person counted once per quarter at their latest move in it. The latest quarter is provisional because filings for moves late in a quarter keep arriving for weeks.
- Tenure and experience
- Tenure is time at the registration entity the person left, not across affiliated entities. Industry experience is years since first registration, as of the data date.
- Moved with colleagues
- Departures in a registration cluster: three or more people who left the same firm for the same destination firm, in the same state, each arriving within three days of the one before. The share is shown only for 20 or more departures, and only when it is at least 2.0 times what 1,000 shuffles of the same people’s arrival dates give, with a shuffle reaching it less than 5% of the time. A cluster is timing in the record; only a public announcement confirms a team.
- Patterns
- A pattern is stated only when it holds: moves to firms in Sanctuary Wealth’s own channel at 40% or more of departures, called most only above 50% and only for a firm outside the independent channels; a flow ratio of at least 1.1, rounded to one decimal; and 30% or more of those who left with ten or more years in the industry.
- Location
- Each person is placed in the state with most of their registered branch locations in the current record, with a fixed rule for ties. People with no branch location on file are placed by their registration state, or shown as Multi-State when registered in several; Multi-State people are not in any state’s count. The current record may not show where someone worked when they moved.
- Not counted
- People who left the industry (they drop out of the record), broker-only representatives, and moves without a valid date.
Source: SEC Investment Adviser Public Disclosure (IAPD) registration records, processed by Continuum Search Group. How Market Intelligence figures are built.
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