Indianapolis-based hybrid advisor platform Sanctuary Wealth is increasing additional into the New York Metropolis metropolitan space with its newest addition in Rye, N.Y.
Crescent Pine Household Workplace Group, led by Ronan O’Byrne, will embrace Sam J. Berger and Dani Oliveira within the again workplace. O’Byrne was beforehand affiliated with Fieldpoint Non-public Securities and brings with him about $230 million in property below administration.
“The New York metro market is a crucial one for Sanctuary Wealth’s continued progress,” Sanctuary CEO Jim Dickson mentioned in a press release. “We couldn’t be happier that Ronan O’Byrne selected to launch his unbiased agency Crescent Pine Household Workplace Group on the Sanctuary platform.”
“I needed to start out an unbiased agency, however I didn’t need to do it alone,” mentioned O’Byrne. “Sanctuary is the proper match, providing the assist and capabilities of a boutique personal financial institution in an unbiased setting.
“It’s true open structure, plus we’ve entry to the entire options that Sanctuary has curated on behalf of their associate companies,” he mentioned. “This consists of Fieldpoint Non-public banking options, which was extraordinarily necessary to me.”
O’Byrne joined Fieldpoint in 2014 following a 20-year capital markets profession operating a non-public multi-family workplace follow centered on ultra-high-net-worth households, rich entrepreneurs and enterprise owner-operators.
“Ronan O’Byrne has constructed a highly-successful follow in a really brief time period by fixing for the complexities that always include substantial wealth,” mentioned Sanctuary President Vince Fertitta. “We’re extremely gratified that he selected partnered independence with Sanctuary Wealth and are firmly dedicated to serving to Crescent Pine Household Workplace Group attain its full potential by providing the options their purchasers deserve and the assist the enterprise wants.”
Funding introduced earlier this month is supporting Sanctuary’s ongoing mergers and acquisitions efforts, which have been centered largely on increasing additional into the New York Metropolis metro space during the last yr.
“Let’s simply be sincere,” Dickson informed WealthManagement.com one yr in the past, “New York is the hub of the monetary companies world. And so if we need to be a world participant, as we do, we would have liked to have a presence there.”
At present, the Sanctuary Wealth community consists of associate companies in 26 states throughout the nation with about $25 billion in property below advisement.