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Deals Of The Day: The Latest In Wealth Management M&A – Sanctuary, Mesa Point Wealth
The latest corporate deals, transactions and acquisitions in the North American wealth management industry.
Sanctuary Wealth
Sanctuary
Wealth, has expanded its network to include Mesa Point
Wealth, a Texas-based firm that will be bringing $120 million in
assets under management.
Led by founder and CEO Robert Lehrer, the firm is based in Midland, with about $120 million in client assets under management, the firm said.
With over 15 years of experience, Lehrer joined Edward Jones in 2006, following a stint in the financial side of the agriculture business.
Welcoming the move, Phillip Porpora, managing director of Sanctuary Wealth, said: "By partnering with Sanctuary Wealth, Robert Lehrer and Mesa Pointe Wealth will have access to a much wider range of tools and resources than they would on their own, including access to up-to-date technology, insurance solutions, capital markets, and alternative investments.”
"My desire to go independent stemmed from my need for a bigger toolbox that would allow me to accelerate growth by providing more solutions for my clients. Sanctuary Wealth gives me that and much more than I expected," added Lehrer.
The Sanctuary Wealth network currently includes partner firms in 26 states across the country with approximately $25 billion in assets under advisement. It includes the fully-owned subsidiaries: Sanctuary Advisors, an SEC-registered investment advisor; Sanctuary Securities, a FINRA member broker-dealer; as well as Sanctuary Alternative Holdings, Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Family Office.
