Sanctuary Wealth welcomed Hillguard Wealth Management as its latest Sanctuary Global partner firm. The Hillguard team, formerly affiliated with Truist Wealth, manages $700 million in client assets and consists of Marcello Zaffaroni, CEO; Juan Martin Campuzano, CIO; Ivan Flores, Wealth Associate; and Maria Zaffaroni, Director of Operations. According to a press release, Hillguard joined Sanctuary in search of enhanced support and growth opportunities.
Hillguard works with an ultra-high net worth (UHNW) client base, servicing approximately 20 U.S. and international families. The firm will be based in Sanctuary’s corporate office on Brickell Avenue in Miami.
Vince Fertitta, President of Sanctuary Wealth, who worked with international firms for over a decade at Merril Lynch, said, “Hillguard’s highly specialized and thriving international practice is the perfect fit for Sanctuary. I know there is significant demand in the marketplace for an alternative to the way most banks and wirehouses treat that sort of business, which in far too many instances is to tolerate international clients under restrictive conditions rather than seek them out.”
According to a news release, Hillguard will have access to Sanctuary’s custodian relationships with Bank of New York and Goldman Sachs. Hillguard will also have access to Sanctuary Open, a technology-enabled multi-discipline platform, to advise clients on assets held at non-custodial banks worldwide.
“Once we decided to take control of our business and the client experience by going independent, we searched for a partner who understood the intricacies of our international model,” said Marcello Zaffaroni. “Sophisticated international clients want a portion of their assets in large creditable U.S. Banks. We are pleased to work with Bank of New York, as well as Goldman Sachs, and are equally excited to add the ability to offer advice on the wealth our clients hold around the world.”
Sanctuary Global Launched In 2021
To better support international advisors and the unique needs of their affluent clients, Sanctuary established its Sanctuary Global platform in 2021 with teams in Florida and Texas coming from Morgan Stanley and Wells Fargo.
Adam Malamed, CEO of Sanctuary Wealth, said, “Sanctuary wants this kind of business. We have the experience and the platform to support it. We have built out our global platform to address the product, solution and service requirements of wealthy global families. We welcome Marcello and his team and look forward to working together for years to come.”
Sanctuary acquired tru Independence in May last year. The Sanctuary Wealth network currently includes more than 120 partner firms in 30 states, with approximately $50 billion in assets on its platform.
Janeesa Hollingshead, Contributing Editor at Wealth Solutions Report, can be reached at editor@wealthsolutionsreport.com.
