A Fort Worth, Texas-based team managing $400 million in client assets has formed Fossil Rock Private Wealth and joined the Sanctuary Wealth network through mFORCE Capital, one of its largest partner firms.
Fossil Rock was founded by former Merrill Lynch wealth advisor Larry Milton, who was most recently affiliated with Truist Investment Services. mFORCE, with client assets totaling $2.3 billion after adding Fossil Rock, was established when Bradley Bruce, a former Managing Director at Merrill Lynch, formed it as a partner firm at Sanctuary.
“Larry and I enjoy a 35-year business and personal relationship that began way back in our Merrill days,” said Bruce. “We trust each other implicitly and have similar investment philosophies and approaches to serving clients. He’s been extremely successful over his career, and when he decided it was time to go independent, I jumped at the chance to work with him again as a partner.”
Fossil Rock will work in partnership with mFORCE, serving clients as a separate entity under mFORCE’s umbrella. Milton will be recognized as mFORCE’s Co-Founder.
Vince Fertitta, President, Wealth Management at Sanctuary commented, “Brad and his group have seen tremendous growth since launching mFORCE as part of the Sanctuary network four years ago, when they left Merrill Lynch. Attracting a partner of the caliber of Fossil Rock is further proof of mFORCE’s compelling value proposition and its incredible future as a home for elite breakaway practices looking to partner with an established firm.”
The Fossil Rock team includes Robert Brown, Senior Wealth Advisor; Erin Smith, Senior Client Service Associate; and Linda Castle, Client Service Associate.
“It’s a small industry, and the people you work with matter,” said Milton. “I trust Brad and the executive leadership team at Sanctuary. We speak the same language. They understand our business and are committed to helping us achieve our goals of providing more family office services, broader support for small businesses, and enhanced wealth management capabilities.”
Miami-based Sanctuary Wealth is a hybrid RIA network that includes more than 125 partner firms in 32 states, with approximately $50 billion in assets on platform.
Last month, Sanctuary’s tru Independence division attracted Laurel Oak Wealth Management, a team of five New Jersey-based advisors who managed over $2.3 billion in client assets at Ameriprise Financial.
James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.
