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Who's Moving Where In Wealth Management? – Truist Wealth, Sanctuary Wealth
Editorial Staff
24 October 2022
Truist Wealth Sanctuary Wealth
Truist Wealth, the US group, has brought in Carroll Swenson as regional managing director and 14 new teammates with a combined AuM of $2 billion to the Virginia marketplace.
Separately, Nancy Mitchel and her team, which manages $590 million in client assets, has joined Truist Wealth teammates Jim Mills and Colby Murphy to form The Mills, Murphy, Mitchel Group of Truist Investment Services, in Virginia.
The joiners include: Kim Anderson, center trust advisor; Paul Carder, investment manager; Kathy Clay, financial consultant; Kelly Cook, wealth advisor; Catrina Crowe, advice and planning strategist; Danielle Daye, center trust advisor; Chris Johnson, senior trust advisor; Patrick Johnson, wealth advisor; Diondra Lee, fiduciary support specialist; Richard McNeil, wealth advisor; Nancy Mitchel, financial advisor; Laura Setliff, client service associate; Lorraine Smith, wealth support specialist; Alyssa Stafford, center trust advisor; Brooke Tiller, wealth advisor; Justin Trent, senior trust advisor; and Michael Walhfeldt, center trust advisor.
Sanctuary Wealth has welcomed Valorous Advisors, led by its founder Christopher D Cervantes.
Based in Plano, Texas, the team was previously with Merrill Lynch as Cervantes Group & Associates, advising on about $564 million with a specialty in retirement plan consulting.
“Corporate interference has become more and more disruptive over recent years. It became clear to me that we could offer our clients a better experience as an independent firm free from those distractions," Cervantes, founder and managing partner of Valorous Advisors, said. "We own our own company and as such we have the autonomy to run it in the way that makes the most sense for our clients, but we also have best-in-class support and infrastructure provided by Sanctuary Wealth as well as the financial strength of Bank of New York Mellon Pershing behind us."
Cervantes joined Merrill Lynch in 1999 after graduating from Baylor University, rising to the position of managing director, wealth management advisor, defined contribution investment consultant.
He has earned the Certified Plan Fiduciary Advisor, Certified Investment Management Analyst, Certified 401 Professional, Chartered Retirement Planning Counselor, and Certified Financial Planner designations.
Joining him are Cervantes’ former Merrill teammates senior wealth planner Tracey A Gledhill and relationship manager Larry Jackson. Gledhill is a 25-year financial services veteran who worked with American Express Financial Advisors, Morgan Stanley, and Aflac before joining Merrill and Cervantes Group in 2015. Jackson spent 26 years with Fidelity Investments before joining the Cervantes Group earlier this year.
The Sanctuary Wealth network includes partner firms in 27 states across the country with approximately $25 billion in assets under advisement. Sanctuary Wealth includes the fully-owned subsidiaries: Sanctuary Advisors LLC, an SEC-registered investment advisor; Sanctuary Securities, Inc, a FINRA member broker-dealer; Sanctuary Alternative Holdings; Sanctuary Asset Management; Sanctuary Insurance Solutions; Sanctuary Global; and Sanctuary Global Family Office.