Sanctuary Wealth Acquires Velorum Wealth Management's Expertise
Sanctuary Wealth Expands with the Addition of Velorum Wealth Management
Sanctuary Wealth is excited to introduce Velorum Wealth Management, a newly established firm that boasts approximately $580 million in client assets. Founded by Bernard Reed, this Indianapolis-based practice signifies Sanctuary's continuing effort to provide elite financial advisors the freedom and flexibility to excel within the evolving landscape of wealth management.
Bernard Reed's Journey to Independence
Bernard Reed's leap from Bank of Montreal (BMO) Wealth Management to becoming an independent advisor demonstrates a transformative shift in his career. Reed understood that to more effectively serve high-net-worth clients, he needed the autonomy that comes from independence. By joining Sanctuary under their Partnered Independence model, Reed is committed to expanding his services by functioning as a comprehensive wealth resource for families and individuals.
The Role of Sanctuary Wealth
Vince Fertitta, President of Wealth Management at Sanctuary Wealth, noted Reed's journey. "After conducting extensive due diligence on multiple firms, Bernard chose Sanctuary for our supportive platform and robust resources. With Sanctuary's affiliations, he can access industry-leading trust departments and family office services, creating tailored solutions for his exclusive clientele. Bernard's expertise aligns seamlessly with what we aim to deliver for our partners," Fertitta explained.
Focus on Client-Centered Services
Velorum primarily collaborates with business owners whose companies have valuations ranging from $10 million to $100 million. The firm encourages entrepreneurs, particularly those contemplating the sale of their businesses, by providing comprehensive financial planning services focused on tax optimization and estate considerations. Reed's practice aims to foster long-lasting legacies and generational wealth through personalized financial strategies that resonate with each client's unique situation.
The Transition Process
Reed expressed confidence about making this significant transition. "The ability to operate independently has offered me the tools necessary to address my clients' needs effectively. With Sanctuary's extensive resources, my service capabilities have increased dramatically. I've transitioned into a role that allows me to truly solve my clients' problems with confidence," he shared.
A Robust Wealth Management Ecosystem
Prior to establishing Velorum, Reed held pivotal roles at several leading financial institutions, providing robust advisory services to high-net-worth individuals. His extensive experience complements Sanctuary Wealth's focus on offering a layer of independence and choice for wealth managers. Adam Malamed, CEO of Sanctuary Wealth, welcomed Reed to the fold. He stated, "Our platform continues to attract high-caliber advisors. Bernard's move reflects a growing trend of private bankers starting to transition into independent advisors, offering them higher levels of autonomy and service adaptability."
Exploring Sanctuary's Comprehensive Offering
Sanctuary Wealth is a leading hybrid Registered Investment Advisor (RIA) delivering integrated wealth management solutions. They enable partner firms to benefit from a unique ecosystem designed to deliver exceptional flexibility and operational support. With affiliations spreading across 32 states and a platform totaling over $50 billion in assets, Sanctuary provides its partners with the advanced technology and operational models necessary to thrive.
About Sanctuary Wealth
Sanctuary’s comprehensive approach empowers independent wealth management firms by supplying them with unparalleled freedom, flexibility, and a robust network of resources. Their recent acquisition of tru independence has further diversified the partnership options available to advisors, reinforcing Sanctuary's mission to create an unparalleled platform adapted to the needs of independent wealth management practices.
Frequently Asked Questions
1. What is Sanctuary Wealth's mission?
Sanctuary Wealth aims to provide independent wealth management firms with flexible solutions and a supportive infrastructure for optimal growth.
2. Who is Bernard Reed?
Bernard Reed is the Founder and Managing Partner of Velorum Wealth Management, previously a high-profile advisor at Bank of Montreal (BMO) Wealth Management.
3. What services does Velorum Wealth Management offer?
Velorum focuses on comprehensive financial planning, particularly for business owners, emphasizing tax mitigation and estate considerations.
4. How does Sanctuary assist its partner firms?
Sanctuary offers a complete technology and operations infrastructure, alongside a network of like-minded advisors to support growth.
5. Why did Bernard Reed choose Sanctuary Wealth?
Reed selected Sanctuary for its platform, which supplies independence and the necessary resources to serve high-net-worth clients effectively.
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