Sanctuary Wealth acquires minority stake in Indianapolis-based independent firm with almost $400 million in AUM
Sanctuary Wealth, home to the next generation of elite advisors, proudly announces that EverNest Financial Advisors, an independent firm based in Indianapolis, has chosen to partner with Sanctuary, which has acquired a minority position in the firm. The two-person team is composed of Managing Partners Frank Esposito, CFA, and Niki Woodworth, CFP®, who with Sanctuary as a partner, plan to grow their firm both organically and through the acquisition of other advisory practices.
“Sanctuary’s initial growth came from advisors breaking from the wirehouse model, and they remain an important constituency for us, but going forward we’re also committed to being a major player in the M&A space, as our investment in EverNest Financial Advisors and some of our other recent initiatives demonstrate,” said Jim Dickson, CEO and Founder of Sanctuary Wealth. “EverNest is somewhat different from our usual partners in that they had been functioning independently for seven years. The fact that they chose to affiliate with Sanctuary rather than continue to try and do it all on their own speaks volumes about what the Sanctuary platform has to offer independent advisors who want to take advantage of our scale and extensive resources.”
Latest Fintech News: Canopy and Liquid Mortgage Partner to Provide Due Diligence and Digital Asset Life-of-Loan Product
With more than $390 million in assets under management, EverNest Financial Advisors provides comprehensive financial planning and investment advisory services to a sophisticated audience of high-net-worth individuals and families as well as non-profits with unique circumstances and aspirations. Among the team’s specialties are helping business owners and corporate executives diversify their assets and prepare for a transition.
“We joined Sanctuary because of their demonstrated commitment to allowing independent firms like ours serve our clients in unique ways and also due to the considerable scale and expertise Sanctuary brings in terms of operational support, compliance, technology, and investment research,” explained Frank Esposito, Managing Partner, EverNest Financial Advisors. “We also saw the opportunity to further enhance the services we are providing our clients with Sanctuary’s resources.”
Frank Esposito is in his 30th year in financial services, having started as an intern with Merrill Lynch in 1992 before spending a decade working with institutional investors at Goldman Sachs and Strong Capital Management. After leading investment teams at both JP Morgan Private Bank and UBS Financial Services, he concluded he could best serve clients as an independent registered investment advisor. In 2015, Esposito merged his practice with Windsor Wealth Management, which led to the creation of EverNest Financial Advisors. He earned a Master’s degree in Business Administration from The Kellogg School of Management at Northwestern University in 2001 and is a CFA® charterholder and a member of the CFA® society of Indianapolis.
Latest Fintech News: Velo Labs Announces Multi-Phase Token Burn, Company To Remove 20% Of Total Supply
Managing Director Niki Woodworth began her financial services career when she joined Windsor Wealth Management in 2017, where her roles included Client Service Manager and Director of Client Service. Since earning the Certified Financial Planner™ (CFP®) credential, she has been working with clients regarding retirement and estate planning, college funding, and debt and tax management. She was awarded a BS in Economics and Spanish and graduated with Cum Laude honors from the Andre B. Lacy School of Business at Butler University.
“Our platform and all that Sanctuary has to offer was the genesis of Frank and Niki’s attraction to Sanctuary, but it was our commitment to their firm’s M&A growth that really sealed the deal,” said Michael Longley, Chief Growth Officer, Sanctuary Wealth. “We’re tremendously excited to have them join Sanctuary as true partners and look forward to providing the resources and support that will help grow EverNest Financial Advisors into the substantial enterprise they envision.”
Latest Fintech News: Equifax Acquires Data-Crédito
[To share your insights with us, please write to sghosh@martechseries.com]
