The JD, which operates as 6 Degrees, is part of Sanctuary's initiative to help older advisors move on and younger industry figures build new businesses.

Sanctuary Wealth has formed a joint venture with two of its Texas-based partner firms – Concenture Wealth Management and G Squared Private Wealth.

Operating as 6 Degrees, the new firm has offices in Houston, College Station and Galveston, Texas, Sanctuary said in a statement. 

“The wealth management industry is in the midst of a massive change as older advisors look to exit the business and young ones look to do it on their own with support of a larger partner,” Jim Dickson, CEO and founder of Sanctuary Wealth, said. “Sanctuary is determined to benefit from this once-in-a-lifetime opportunity by investing in our partner firms and helping them grow both organically and through M&A activity.”

As well as tapping into succession and business transfer moves in wealth management, the initiative also gives Sanctuary more exposure to Texan wealth management, one of the busiest markets in the US. 

The team behind 6 Degrees consists of George Georgiades, as chief executive, Victoria Greene, as chief investment officer and Robert Gilliland as president. Georgiades and Greene are respectively CEO and CIO of Sanctuary partner firm G Squared Private Wealth and Gilliland is managing director and senior wealth advisor with Concenture Wealth Management. 

Jason Hardcastle, an advisor most recently affiliated with Edward Jones, is joining as wealth manager and 6 Degrees’ first advisor. He is based in Galveston.

The Sanctuary Wealth network includes partner firms across 22 states with over $19.0 billion in assets under advisement.