Sanctuary Extends Footprint into Southern California with Investment in InnoVise Family Wealth Advisors
INDIANAPOLIS, Sept. 21, 2021 /PRNewswire/ -- Sanctuary Wealth, home to the next generation of elite advisors, has taken a stake in InnoVise Family Wealth Advisors. Based in Los Angeles, with the tagline "Innovation fueling advice," InnoVise is a multi-family office and advisory firm focused on delivering advice and solutions that are innovative, completely customized, and actively managed. Formerly known as Audent Family Wealth Advisors, it took on a new name to launch this new partnership. This investment will facilitate the launch of Sanctuary's latest offering—Sanctuary Global Family Office—and complement Sanctuary's other recent expansions into international family office services, including the opening of the Miami office and focus on serving the Latin American markets.
"InnoVise has rapidly become a highly successful multi-family office and like Sanctuary Wealth, they are positioned for continued dynamic growth. Our investment allows the launch of Sanctuary Global Family Office, which will be led by InnoVise's Brian Weiner, and will provide the advisors in our network with a wide range of family office services," said Jim Dickson, CEO and Founder of Sanctuary Wealth. "This partnership is a natural extension of where Sanctuary is in our evolution. We will continue to make strategic acquisitions that strengthen our platform, and with InnoVise, we have added a best-in-class family office offering an ultra-high-net-worth solution set to our existing partner firms so we can better serve them and their clients."
InnoVise Family Wealth Advisors brings a wide range of experience and expertise to clients, with specialization in two key areas: Family Office Consultancy including Personal CIO-CFO Services, and Business Sale Pre-Event Planning that includes strategies for optimizing wealth transfer and estate transfer. InnoVise is helmed by Managing Partner Brian Weiner and Co-Founder and Partner Michael Winn. Weiner leads the family office services program, CIO-CFO platform, and family governance and education program, while Winn leads the estate planning, business succession and pre-event planning practice. The latter includes tax efficient solutions for monetization events and creative Section 1031 exchange strategies. Along with the pre-event planning and estate planning comes a significant wealth transfer offering that strategically aligns with the build-out of Sanctuary Insurance Solutions.
"InnoVise and Sanctuary have a strong cultural alignment and share a vision of providing extraordinary service and solutions to our respective clients, which is just one of the elements that makes this partnership ideal for both companies," explained Brian Weiner, Managing Partner at InnoVise Family Wealth Advisors. "While InnoVise will continue to operate independently, we will also be providing important family office services to the rest of the Sanctuary network, affording tremendous growth opportunities to all parties involved."
"I'm thrilled for the opportunity to work with Sanctuary advisors and to offer our planning and tax strategies to help their clients prosper during these times of unprecedented uncertainty," said Michael Winn, Co-Founder and Partner of InnoVise Family Wealth Advisors. "As a member of Sanctuary's network, we will be able to help them prepare their clients for likely income tax and estate transfer changes over the next few years."
Concurrent with the announcement of the partnership, Michael Pagano joins InnoVise Family Wealth Advisors as Chief Operating Officer (COO). A financial services professional with more than 25 years' experience, Michael spent 13 years as Executive Vice President, Head of Private Banking at City National Bank, where he grew that platform to more than $30 billion. He previously served in private banking roles with Wells Fargo and Bank of America.
Sanctuary believes taking an interest in InnoVise and creating a true partnership enhances the quality and depth of service to clients first and foremost, while also enhancing the growth potential of both firms. Sanctuary and InnoVise will work together to show families in need of pre-event planning services in advance of the sale of a business that can result in the opportunity for estate planning and ultimately asset management services. InnoVise's global family office experience and expertise complements and significantly enhances Sanctuary Wealth's boutique alternative and private investments platform. The ability to source and vet unique real estate, private transactions, and strategic joint ventures will provide Sanctuary partner firms and their clients with investment opportunities that had previously only been available to institutional investors and large family offices.
About Sanctuary Wealth
Sanctuary Wealth (sanctuarywealth.com/) is the advanced platform for the next generation of elite advisors, who have the entrepreneurial spirit to build and own their own practices and desire the freedom to deliver the tailored service their clients deserve. Sanctuary's ecosystem of partnered independence provides a complete technology and operations platform, as well as support from a community of like-minded advisors and the resources of invaluable affiliated businesses. Currently, the Sanctuary Wealth network includes partner firms across 21 states with over $17.0 billion in assets under advisement. The Sanctuary Wealth Group includes the fully owned subsidiaries Sanctuary Advisors, a registered investment adviser, and the broker-dealer Sanctuary Securities, as well as Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Tax and Family Office.
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SOURCE Sanctuary Wealth