The latest corporate deals, transactions and acquisitions in the North American wealth management industry.

Sanctuary Wealth, the wealth management group, has welcomed Marriott Wealth Advisors. The business, which focuses on retirement planning, is based in Hot Springs Village, Arkansas.

Marriott Wealth Advisors, a division of mFORCE Capital, which was founded by Joseph Marriott in 2010, has about $140 million in client assets under advisement.

The acquisition was achieved through Sanctuary Wealth's Partnership Program, which allows Sanctuary to make highly targeted acquisitions on behalf of its partner firms by supplying capital while taking only a minority stake in the acquired practice. (This publication has interviewed Sanctuary about this business model and will be publishing an article on it in due course.)

The Sanctuary Wealth network includes partner firms across 20 states with over $22 billion in assets under advisement. 

"We're extremely pleased to have been able to facilitate Joe Marriott and his team joining Sanctuary Wealth through our Partnership Acquisition Program," Jim Dickson, CEO and founder of Sanctuary Wealth, said. "They are a highly successful group of professionals who align perfectly in terms of philosophy, culture, and work ethic with our existing partner mFORCE Capital, and we were glad to make that match.”

A veteran of three decades in financial services, prior to launching Marriott Wealth Advisors, Joseph Marriott was a senior vice president and complex manager for two large Wall Street firms. He earned his master of business administration from the University of Iowa and is also a Retirement Income Certified Professional (RICP®). Others on his team are operations manager Lindsey Robinson and administrative assistant Deena Butler.

In a second transaction – also announced late last week – Sanctuary Wealth has invested in GoalPath Solutions, a firm based in Overland Park, Kansas. GoalPath provides investment management services, financial planning, and financial wellness education to participants of workplace retirement plans. As a retirement plan consultant, GoalPath works with employer-sponsored retirement plans by providing fiduciary guidance, investment analysis, provider analysis, plan design and an engaged employee experience. 

The size of Sanctuary’s investment stake wasn’t disclosed.