Sanctuary Wealth says it has poached a team of experienced financial advisors from Wells Fargo.
The latest addition is SLK Private Wealth, led by founders and managing partners Glen Strauss, Jonathan Lewis and Edward "E.J." Kahn, according to Sanctuary.
Strauss has more than 35 years of financial advisory experience, and Lewis has been working in wealth management and investment planning advice for close to three decades, Sanctuary says. Kahn began his industry career in 2013 and joined Wells Fargo in 2016, according to Sanctuary.
The trio previously managed more than $1.6 billion at Wells Fargo Advisors, Sanctuary says.
"Independence is the next logical evolution in our business. We chose to start our own firm in partnership with Sanctuary Wealth where we can control the client experience and truly act in their best interest without conflict or distraction, Strauss said in the announcement. “We will have a much more robust selection of solutions available and the ability to determine which strategies make the most sense for each individual client."
The SLK team also includes Partner and Portfolio Manager Hank Krakover and Chief Investment Officer Razmig Der-Tavitian, according to Sanctuary.
The addition of SLK is Sanctuary’s fourth billion-dollar-plus team this year and its second in Southern California in just the past week, Jim Dickson, Sanctuary’s founder and chief executive officer, said in the announcement.
Earlier this month, Sanctuary lured a team of Merrill Lynch financial advisors overseeing $1 billion. Sanctuary also nabbed advisors from Edward Jones, JPMorgan, Morgan Stanley and UBS in recent months.