Sanctuary Wealth Group 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, according the firm information.
“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 role,” Mr. Malamed said.
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, the statement added.
Building on Sanctuary’s Strong Foundations
Launched in 2018, Sanctuary 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”, the firm said.
“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.”