Sanctuary Recruits $2.2 Billion Centel Wealth

Firm to leverage “best-in-class infrastructure and integrated technology” to drive growth

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The New Haven, Connecticut-based Centel Wealth Advisory, a practice with over $2.2 billion in individual client and institutional assets, joined Sanctuary Wealth, the firm announced in a press release late last week.

Founded by Stephen Fordyce, CFP, Robert Bowman, CFP and Sam DeGennaro, Centel specializes in wealth advisory services and institutional plan management. The team was formerly affiliated with Snowden Lane Partners.

“The independent space has evolved tremendously since Sam and I left the wirehouse world a decade ago, creating greater opportunities and more options than ever before,” said Fordyce, who was with Merrill Lynch prior to joining Snowden Lane. “My partners and I decided the time was right to assume control and take our business to the next level by launching our own firm and affiliating with a strong partner to enhance the technology, investment solutions and service experience we offer our clients.”

Vince Fertitta, President of Wealth Management at Sanctuary, added that “Centel will benefit from the robust ultra-high-net-worth platform” the firm built to support its partner firms. “Our platform’s white-glove support, best-in-class infrastructure and integrated technology make it easier for advisors to serve sophisticated clients,” he said.

Sanctuary CEO Adam Malamed welcomed the Centel team and said he looks “forward to working with them…[to] expand their outstanding practice.”

Centel represents the largest team Sanctuary has ever recruited, CityWire reported earlier this week. Earlier this year, Sanctuary acquired tru Independence. The firm’s network includes more than 120 partner firms in 30 states nationwide, with approximately $44 billion in assets on the platform.