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Sanctuary Adds Texas Firm To Embrace

Editorial Staff February 27, 2023

Sanctuary Adds Texas Firm To Embrace

The move continues Sanctuary's expansion of its US wealth management footprint.

Sanctuary Wealth, the network of firms, has welcomed Chappell Wealth Management. The business has seven people and is based in The Woodlands, Texas.

The firm is led by Brent Chappell, Brad Chappell, Michael Mills, and Spencer Carlson. With close to $1.5 billion in assets under management, the team is the 17th in Texas to choose Sanctuary's model of partnered independence. To date, Chappell Wealth Management is the largest producing wirehouse breakaway team to join forces with Sanctuary since the firm's launch in 2018.

"By partnering with Sanctuary, we see real opportunities to grow our business that weren't available to us previously and wouldn't exist in a later move to another wirehouse," Brad Chappell, who is managing partner as well as founder, said.

This news service has interviewed Sanctuary about its business model (see here).

The Sanctuary Wealth network includes partner firms in 27 states across the country with approximately $25 billion in assets under advisement. Sanctuary Wealth includes the fully-owned subsidiaries: Sanctuary Advisors LLC, an SEC-registered investment advisor; Sanctuary Securities, Inc, a FINRA member broker-dealer; Sanctuary Alternative Holdings; Sanctuary Asset Management; Sanctuary Insurance Solutions; Sanctuary Global; and Sanctuary Global Family Office. 

Recent moves included the addition in late August 2022 of Mackie & Waller Wealth Management Group in St Louis. In late July Sanctuary added Crescent Pine Family Office Group in Rye, New York. It also brought in SkyPath Private Wealth from Merrill Lynch, a New Jersey-based firm that had $1.2 billion in assets under management, and added Mesa Point Wealth, a Texas-based firm. In November, 2022, Sanctuary Wealth opened an East Coast office – operated by Quorum Private Wealth. Quorum is a Sanctuary partner firm with more than $1 billion of assets under management based in Danville, California.

In July 2022 Sanctuary, majority-owned by Azimut Group, closed a $175 million investment from Kennedy Lewis Investment Management.

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