INDIANAPOLIS, July 16, 2021 /PRNewswire/ — Sanctuary Wealth, home to the next generation of elite advisors, announces its latest recruitment coup as Paul Sullivan joins the firm as a Managing Director. Sullivan spent his entire 34-year career with Merrill Lynch, the last 12 as Managing Director and Market Executive at the SD Financial Center, Merrill’s flagship office. At Sanctuary, he will be responsible for supporting all of the firm’s current advisors and teams on the East Coast, as well as attracting new advisors to the network, and opening Sanctuary’s New York City office later this year.
“Paul Sullivan and I have been colleagues and more importantly, friends, for 25 years. I have the utmost respect for him as a person and as someone who really understands the needs of advisors and their clients,” said Jim Dickson, CEO and Founder of Sanctuary Wealth. “Paul has always operated from the belief that there’s a moral purpose to what we do. It’s not just about making money for our clients; it’s about helping them reach their goals. And that’s aligned with what we’re doing at Sanctuary as we build a premier firm that’s focused on that moral purpose.”
“After 34 years, I wanted to pursue a more entrepreneurial opportunity and not just another big bank. Jim Dickson, Vince Fertitta, and their team built an incredible platform for financial advisors to thrive in the independent channel, the fastest growing segment in wealth management today. Sanctuary Wealth is truly built for the industry’s top advisors who have a strong desire to start their own firm,” explained Paul Sullivan, Managing Director, Sanctuary Wealth. “Watching what they built from afar, I had to be part of it. I’m at a stage in my career where I want to represent a firm that’s in the best interest of financial advisors and clients. It’s not about me, it’s about them.”
Sullivan began his career with Merrill Lynch in 1986 as a Client Associate at the SD Financial Center in New York shortly after graduating from the College of New Jersey. He rose through Merrill’s ranks from Financial Advisor in Doylestown, PA to Associate Director of the Indianapolis market, Director and Market Executive in La Jolla, CA and then Short Hills, NJ, before returning to New York and the SD Financial Center as Managing Director and Market Executive in 2008.
“Paul Sullivan was one of the most respected Market Executives at Merrill Lynch and responsible for the firm’s flagship office,” said Vince Fertitta, President, Wealth Management, Sanctuary Wealth. “The New York City tri-state area is an important growth market for Sanctuary, and we expect that having Paul head up our New York office and lead our efforts will help us rapidly build our presence there.”
Sullivan’s hire comes weeks after Sanctuary Wealth brought on another veteran from Merrill Lynch, Phillip Porpora, Jr., as Managing Director to join the senior leadership team, as Sanctuary continues to bring on seasoned professionals to help its partner firms succeed. Sanctuary’s upcoming New York office will further expand its US presence, which includes Chicago and the recently opened Miami office.
About Sanctuary Wealth
Sanctuary Wealth (sanctuarywealth.com/) is the advanced platform for the next generation of elite advisors, who have the entrepreneurial spirit to build and own their own practices and desire the freedom to deliver the tailored service their clients deserve. Sanctuary’s ecosystem of partnered independence provides a complete technology and operations platform, as well as support from a community of like-minded advisors and the resources of invaluable affiliated businesses. Currently, the Sanctuary Wealth network includes partner firms across 20 states with over $16.5 billion in assets under advisement. The Sanctuary Wealth Group includes the fully owned subsidiaries Sanctuary Advisors, a registered investment adviser, and the broker-dealer Sanctuary Securities, as well as Sanctuary Alternative Solutions, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Tax and Family Office.
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SOURCE Sanctuary Wealth