Sanctuary Wealth Embarks on Next Stage of Growth with Appointment of Adam Malamed As Chief Executive Officer
Fast-Growing Wealth Management Firm to Leverage Proven Growth Expertise of Former Ladenburg Thalmann Executive and Board Leader to Build on Continued Success
INDIANAPOLIS, Feb. 2, 2023 /PRNewswire/ -- Sanctuary Wealth Group, home to the next generation of elite financial advisors, named wealth management industry leader Adam Malamed Chief Executive Officer, effective immediately. Mr. Malamed, an existing member of Sanctuary's Board of Directors, will leverage his proven expertise in growing and leading privately held and publicly traded wealth management and financial services enterprises across multiple business models to spearhead the next stage of the firm's growth.
Previously, Mr. Malamed served as Executive Vice President, Chief Operating Officer and Board Director of Ladenburg Thalmann, a leading NYSE-listed network of wealth management and other financial services firms. He served a pivotal role in building the enterprise to encompass 4,500 financial advisors, approximately $200 billion in client assets and an enterprise value of $1.3 billion.
Building on Sanctuary's Strong Foundations
Launched in 2018, Sanctuary has quickly become a leading national network of independent wealth managers. The firm delivers a well-resourced, partnered independence experience through a platform of comprehensive solutions and services to financial advisors with entrepreneurial drive and the desire to serve clients with distinction.
With robust institutional financial backing from leading global asset managers Kennedy Lewis and Azimut Group, Sanctuary empowers successful and experienced financial advisors to elevate their professional success and the service experience provided to their clients.
Mr. Malamed said, "I'm thrilled to lead Sanctuary Wealth as the firm embarks upon the next stage of its growth, which will be built on very strong foundations. Having served on Sanctuary's Board of Directors, I've had the opportunity to dive deep into understanding its business, unique culture and value proposition for financial advisors. I have the utmost respect for the firm's executive leadership, employees and the financial advisors we support. I look forward to applying my experience in leading and expanding some of the nation's largest and most successful financial services companies to this new rol."
"Never before has there been a greater need for independent financial advice, and independent firms with sophisticated growth strategies are well-positioned to drive rising success for their organizations and advisors. Toward this end, I am a big believer in taking the best elements of a firm's culture and aligning it with an institutionalized strategy and scalable solutions that consistently elevate the financial advisor and client service experience," continued Mr. Malamed. "This is precisely what we will achieve together at Sanctuary going forward. In a fast-evolving wealth management landscape, Sanctuary has an opportunity to become the destination of choice throughout the independent financial advice industry."
Mr. Malamed was a principal architect of Ladenburg's successful sale to Advisor Group in 2020, after driving strategy and growth for nearly 15 years, generating robust expansion and industry-leading financial advisor service and support. Prior to joining Ladenburg, he was co-founder and President of BroadWall Capital, LLC, a financial services firm specializing in institutional sales and research that he built and sold to Ladenburg Thalmann in 2006.
"Adam aligns perfectly with our vision for the future of Sanctuary," said David Chene, co-founder of Kennedy Lewis and chairman of the Sanctuary Board. "We are confident that he is the right person, at the right time, to build on the very robust business in place at Sanctuary and to catapult the firm into the ranks of the top wealth management enterprises in the country. The respect and admiration held for Adam throughout the wealth management space are well known, as are his professional integrity, work ethic and ability to combine strategy with actionable results. Going forward, we know that Sanctuary is in excellent hands under Adam's leadership."
Massimo Guiati, CEO of Azimut Group said, "We've reached a very natural point of evolution for Sanctuary Wealth, as the firm continues to grow and develop. Adam Malamed possesses an unparalleled track record of building high growth private and public wealth management enterprises and he knows Sanctuary's business thoroughly. We look forward to providing Adam and the Sanctuary team our enthusiastic support as they accelerate the firm's forward momentum. I will personally be involved in helping Adam to coordinate and manage the development of the business going forward, making this new chapter a great success for everyone."
About Sanctuary Wealth
Sanctuary Wealth (https://www.sanctuarywealth.com/) is the advanced platform for the next generation of elite advisors, who have the entrepreneurial spirit to build and own their own practices and desire the freedom to deliver the tailored service their clients deserve. Sanctuary Wealth's ecosystem of partnered independence provides a complete technology and operations platform, as well as support from a community of like-minded advisors and the resources of invaluable affiliated businesses. Currently, the Sanctuary Wealth network includes partner firms in 28 states across the country with approximately $25 billion in assets under advisement. Sanctuary Wealth includes the fully owned subsidiaries; Sanctuary Advisors LLC, an SEC-registered investment adviser, Sanctuary Securities, Inc. a FINRA member broker-dealer as well as Sanctuary Alternative Holdings, Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Family Office.
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Joseph Kuo / Donald Cutler
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SOURCE Sanctuary Wealth