What You Must Know
- Burnham Harbor Non-public Wealth has joined Sanctuary Wealth.
- The crew focuses on serving to multi-generational households obtain and preserve their wealth and life-style targets.
- The Sanctuary Wealth community now has about $25 billion in belongings below advisement, Sanctuary stated.
Hybrid RIA Sanctuary Wealth picked up a Chicago-based advisory crew from Merrill Lynch with $1 billion in consumer belongings, Sanctuary stated Friday.
Burnham Harbor Non-public Wealth contains 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 shoppers. 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 crew.
The crew has “run an unbelievable enterprise for years by catering to the distinctive wants of the multi-generational shoppers they serve,” in accordance with Adam Malamed, Sanctuary CEO. “Their mixture of subsequent technology and veteran advisors is strictly what’s wanted to reach the wealth administration house going ahead,” he stated in an announcement.
He added: “We look ahead to giving them the liberty and adaptability, together with the help they should meet their targets of rising their enterprise organically and thru acquisitions.”
Burnham has been offering full wealth administration options to high-net-worth households, enterprise house owners, entrepreneurs, executives, medical doctors, professional athletes and philanthropists, in accordance with Sanctuary.
The crew “focuses on serving to multi-generational households obtain and preserve their wealth and life-style targets by way of their experience in monetary steering, legacy implementation, estate coordination, threat administration methods, retirement life-style continuation, tax minimization and transition counseling,” Sanctuary added.
