On September 13, 2024, Sanctuary Wealth announced that it acquired Centel Wealth Advisory.
Sanctuary Wealth (“Sanctuary”) announced on September 13, 2024, that it acquired Centel Wealth Advisory (“Centel”). Under the terms of the transaction, Centel’s founders Stephen Fordyce and Robert Bowman will serve as managing partners, while Sam DeGennaro, also a founder, will become managing director. Further terms of the deal were not disclosed.
Sanctuary, based in Indianapolis, Indiana, is a platform offering technology, operations, research, and support for independent advisors. Sanctuary has approximately $44 billion in client assets.
Centel, based in New Haven, Connecticut, is a wealth management firm providing clients with investment and advisory solutions. Centel had over $2.2 billion in client assets.
To read the report: please click here.