Deals Of The Day: The Latest In Wealth Management M&A - Sanctuary, Creative Planning

Editorial Staff

19 August 2020

Sanctuary Wealth, a network for financial advisors, has expanded its presence in the upper Midwest, adding Fjell Capital in Fargo, North Dakota.

Led by 30-year-old advisor Tom Stadum, the two-person team was formerly affiliated with UBS and has $150 million in assets under management.

"Fargo represents a brand-new market for Sanctuary and we're very excited to welcome Fjell Capital to the Sanctuary network. Tom Stadum is only 30 years old and is already a million dollar producer. Fjell Capital, like Sanctuary itself, is a young firm and eager for growth. We look forward to doing great things together for many years to come,” Jim Dickson, CEO and founder of Sanctuary Wealth, said.

Stadum joined UBS in 2013 as a wealth strategy associate before being promoted to wealth advisor and then to first vice president for wealth management at UBS Financial Services. He is a Certified Private Wealth Advisor® , which is an advanced professional certification for advisors serving high net worth clients with a minimum net worth of $5 million, as well as a Chartered Retirement Planning Counselor® .

Another joiner at Fjell Capital, a registered senior wealth advisor, is former UBS figure Daniel B Schuster CRPC®, who originally joined UBS in 2017 as a client service associate after studying finance at North Dakota State University.

The Sanctuary Wealth network covers 15 states and includes more than 37 partner firms with approximately $10 billion in assets under advisement.

Creative Planning
Creative Planning has bought fellow RIA Miller Financial Management, which is located in Muncie, Indiana.

Miller Financial Management, formed 18 years ago, oversees about $150 million in assets under management. To put that in context, Creative Planning manages around $50 billion in AuM across the US.

"As we looked forward to the future for Miller Financial Management and our clients, it became clear that we needed to partner with a firm that would help us provide continuity of service to our clients. We sought a firm that shared our vision for a client experience centered around financial planning and fiduciary values and we think Creative Planning shares our vision for that client experience,” Andrew Miller, partner of Miller Financial Management, said.