He reports to Adam Malamed, CEO of Sanctuary Wealth. With close to 30 years of experience across the independent wealth management industry, Vaughan has a track record of developing organic and M&A-based growth strategies, with an emphasis on strong bottom-line results that enable reinvestment in the business, the firm said in a statement.

Vaughan will be responsible for managing Sanctuary's financial operations, including accounting, budgeting and financial reporting. He will play a key role in decision-making, M&A, risk management and ensuring regulatory compliance, the firm continued. Vaughan will also be responsible for managing relationships with external stakeholders, such as Sanctuary Wealth investors and lenders.

Additionally, he will oversee financial planning and forecasting to help leadership make decisions about future investments, capital expenditures, and growth opportunities.

He was most recently CFO at Axos Clearing, where he directed multiple teams serving broker-dealers and RIA firms, the firm said. Prior to that, he spent more than 27 years with Securities America, previously a subsidiary of Ladenburg Thalmann, where as CFO he led the accounting/finance, fee and commission billing, internal audit and risk management departments. 

Welcoming him to the firm, Malamed said: "Having worked together for more than 10 years while David was with Ladenburg Thalmann, I have seen his abilities, work ethic and integrity first hand.” 

Robert Walter, co-president at Sanctuary Wealth, added: "We've been looking to add this critical role to our executive leadership team for more than six months. As soon as we had the opportunity to meet with David, we knew he was the person we needed to help ensure that Sanctuary continues to hit our strategic goals and remains the premier destination for advisors looking to be independent but not alone."

Vince Fertitta, co-president of wealth management at Sanctuary Wealth, said: “His knowledge will be instrumental in expanding our ongoing success with investing in M&A deals alongside our partner firms, to drive accelerated growth for our partner firms."

Welcoming the appointment, Vaughan added: "Sanctuary is in the strongest financial position in its history, both well-capitalized and growing. This provides a uniquely robust foundation for me to utilize as a springboard in creating and implementing strategies to help Sanctuary and its advisor partner firms." 

Currently, the Sanctuary Wealth network includes partner firms in 28 states across the country with approximately $25 billion in assets under advisement. Sanctuary Wealth includes the fully owned subsidiaries; Sanctuary Advisors, an SEC-registered investment adviser, 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.