After more than a year of executive upheaval and no reported asset growth, Sanctuary has brought in a 30-year Morgan Stanley vet to lead East Coast expansion.
Ohio Team Joins Sanctuary After Merrill Closes Branch Office The former Merrill Lynch team, led by advisor Lars Olson, wanted to stay in Marion, Ohio, to be part of the town’s revitalization, so they decided to go independent with Sanctuary Wealth.
A financial advisor team, led by Lars Olson in Marion, Ohio, jumped ship from Merrill Lynch and formed an independent practice at Sanctuary Wealth after the wirehouse closed down the Marion, Ohio, office where the team worked. Olson’s team, which will now operate as Alluvial Private Wealth, manages $435 million in client assets.
Olson said Merrill closed down their office in Marion, a town in central Ohio, and was consolidating advisors in the region to one large office in Columbus, some 50 miles away. But his team wanted to stay in Marion and continue to be near the clients they serve.