The Miami-based RIA expands with a father-son team managing ultra-high-net-worth client assets from Merrill Lynch.
Sanctuary Wealth, a hybrid registered investment advisor managing over $58 billion in client assets, has recruited a father-son team from Merrill Lynch. The team, led by John Durham, brings $477 million in assets from ultra-high-net-worth families to the firm.
This marks the second Merrill team to join Sanctuary in recent months. Durham, a former senior vice president at Merrill, cited flexibility and control over client relationships as key factors in the move. His son, Benjamin Durham, joins as partner and director of financial planning, alongside operations director Lisa Downey.
The acquired team will operate under the name Valen Private Capital and use Goldman Sachs as its custodian.