Indianapolis-based Sanctuary Wealth recently announced the expansion of its Sanctuary One wealth management platform by leveraging BNY Pershing’s Wove technology. The new arrangement with BNY is geared toward continuing Sanctuary’s growth momentum. The firm’s tech stack enhancements are expected to elevate the services partner firms offer their clients.
“Having the right technology partner as Sanctuary continues to add scale through organic growth, strategic acquisitions and ongoing partnerships with elite wealth management firms is critical to creating exceptional advisor and client experiences,” said Bob Walter, President, of Sanctuary Wealth.
The Wove platform incorporates BNY Pershing’s interoperable suite of products, including Wove Investor, Wove Data and Wove Advisory through a single source. Through a foundational framework designed to enable future integrations without disruption to services.
According to a recent statement, Wove enables Sanctuary partner firms to improve the experience they provide to clients. It also streamlines the advisor’s workflow, letting them view assets holistically, regardless of where assets are held to better service Sanctuary’s clients. This platform includes portfolio construction and analytics tools, innovative trading and rebalancing features, a proposal tool and a client portal integrated with Sanctuary’s existing tech stack. This partnership was first announced during Sanctuary’s Oasis conference in October.
Walter added, “With its seamless integration of technology tools into a single, data-driven interface, Wove platform allows our partners to elevate their wealth management offering. We’re excited to collaborate on the launch of Wove, to enhance our offerings and empower our partner firms to do more for their clients.”
BNY Pershing is a leading provider of clearing and custody, trading and settlement, advisory and investment solutions, data insights, business consulting and other services to wealth management and institutional firms looking to grow their businesses.
Ainslie Simmonds, Head of Global Strategy, BNY Pershing and President, BNY Pershing X said, “We believe in empowering advisors to spend more time focused on their clients by providing them with investment technology and solutions to seamlessly connect all the components of their clients’ financial picture in one place and meaningfully cuts down on administrative tasks.”
