Centel Wealth Advisory, a New Haven, Connecticut-based practice with over $2.2 billion in individual client and institutional assets, affiliated with Sanctuary Wealth to launch its new firm.
Led by Stephen Fordyce, Robert Bowman and Sam DeGennaro, the team focuses on wealth advisory services and institutional plan management. The team was formerly affiliated with Snowden Lane Partners.
Fordyce and Bowman will become Managing Partners, and DeGennaro will be Managing Director of Centel.
“After years of building a substantial practice as wirehouse employees, Steve and Sam took their first step toward independence a decade ago, leaving behind the conflicts often found at Wall Street institutions, and [now] embark upon the logical next evolution of their practice by taking full ownership of their business,” said Sanctuary’s President, Wealth Management, Vince Fertitta.
A multigenerational, independent firm, Centel offers clients access to a range of investment and advisory solutions.
“The independent space has evolved tremendously since Sam and I left the wirehouse world… creating greater opportunities and more options than ever before,” said Fordyce. “My partners and I decided the time was right to assume control and take our business to the next level by launching our own firm and affiliating with a strong partner.”
Sanctuary’s CEO, Adam Malamed, added, “At Sanctuary, we’ve built a platform that continues to attract successful practices from across the wealth management industry. We couldn’t be happier to welcome Centel Wealth Advisory as Sanctuary’s newest partner firm and look forward to working with them in the coming years as they expand their outstanding practice and grow the value of the asset they’ve worked so hard to build.”
Sanctuary has over 120 partner firms in 30 states, with approximately $44 billion in assets on its platform. Malamed was named CEO of the Year by WSR in January and, in May, Sanctuary acquired tru Independence, the Portland, Oregon-based RIA support platform.
James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report can be reached at ContributingEd@wealthsolutionsreport.com.
