Miami-based hybrid RIA Sanctuary Wealth recruited the newly launched Valen Private Capital, and its Founder and Managing Partner, John Durham, who oversaw $477 million in assets at Merrill Lynch. Valen is headquartered in Paoli, Pennsylvania, near Pittsburg
“As he considered establishing his own firm and unlocking the asset he worked so hard to build, John’s top priority was a robust platform with UHNW capabilities that would enable him to fulfill his vision of expanded services and solutions for the families he serves,” said Vince Fertitta, President, Wealth Management, Sanctuary Wealth. “Free from the constraints of a wirehouse environment, he is now positioned to play an even more significant role in his clients’ lives and able to provide them with bespoke, holistic advice.”
“As I evaluated independence, I wanted a partner that would allow me to build Valen Private Capital around my clients – not force my clients into someone else’s model,” said Durham. “Sanctuary offered the combination of flexibility, experienced support and UHNW resources I was looking for, while allowing me to retain control of the firm I am building. That was important to me, my family and the families we serve.”
Durham joined Merrill Lynch in 2004. He earned his Juris Doctor from Delaware Law School and his Master of Laws in Taxation from the Villanova University School of Law.
Benjamin Durham, who most recently was a Wealth Management Specialist at Merrill Lynch in New York, will be joining Valen as Partner and Director of Financial Planning. Lisa Downey will join as Director of Operations.
“Valen Private Capital reflects the kind of sophisticated advisor who continues to choose Sanctuary,” said Adam Malamed, CEO of Sanctuary Wealth. “John wanted more than a place to affiliate. He wanted a platform that would respect the business he built, strengthen the resources available to his clients and give him room to create value over time.”
In April, Sanctuary added breakaway advisors Soteris Private Wealth and OPT Wealth Management from Merrill Lynch. In May, Iron North Private Wealth joined Sanctuary from UBS.
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