Sanctuary Wealth announced the recruitment of Princeton, New Jersey-based Mitch Benedon, previously a Financial Advisor at Merrill Lynch, who began his career there in 2019. Benedon joined Sanctuary affiliate Eclipse Private Wealth Management. He built a $50 million book of business in his first five years as an advisor.
Eclipse was in the inaugural class of Sanctuary’s Enterprise Partner Program, launched late last year to support inorganic growth efforts of affiliated firms looking to add advisors.
“We are thrilled that Mitch has decided to join our firm as we embark on our strategic growth plan,” said Alex Freedman, Senior Wealth Advisor, who co-founded Eclipse with her father in 2024. “We’re grateful for the encouragement Sanctuary provided as we pursued this opportunity to expand our business.”
Freedman continued, “The firm’s guidance, training and support through its Enterprise Partner Program helped us create a deal structure that benefits all parties. This will be the blueprint we will follow as we continue to add quality advisors like Mitch to achieve our growth goals.”
Advisors who complete the Enterprise Partner Program can more readily access capital through Sanctuary’s Strategic Capital Partnership for M&A deals.
Michael Longley, Chief Growth Officer of Sanctuary, said, “After going through this exclusive program, Eclipse is equipped with the tools, resources and knowledge to drive meaningful growth in their practice. By tapping into our Strategic Capital Partnership, they are well on their way toward building lasting equity in their business and evolving their practice into an independent wealth management enterprise. Bringing Mitch over from Merrill is a great start.”
Benedon said, “Everything I’ve seen at Sanctuary is an upgrade, from the resources to the planning software to the technology stack. I am encouraged to be an entrepreneur and do what is right for myself and my clients. I’m thrilled to be part of the Eclipse team as we build a future together.”
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at michael.madden@wealthsolutionsreport.com.
