Strategy

Sanctuary Wealth Services Adds Another California Firm To Platform

Harriet Davies Editor - Family Wealth Report 23 January 2013

Sanctuary Wealth Services Adds Another California Firm To Platform

Emerald Bay Wealth Management has hired Sanctuary Wealth Services to support its business.

California-based Emerald Bay is the seventh team to join Sanctuary’s network. The Sanctuary platform provides investment research and analysis, consolidated client reporting and performance analytics, and operational support.

Emerald Bay was founded in 2011 by Michael Battey and M Hannah Sullivan. Before founding the firm Battey ran Atlantic Trust Company’s San Francisco office, where he led a team overseeing around $750 million in client assets.

Sullivan is an entrepreneur, having founded, run and sold an adventure-travel company, called Tahoe Trips & Tails, before co-founding Emerald Bay. Before that she was a general partner at Fremont Ventures, a venture capital firm owned by the Fremont Group. She is also a former portfolio manager, having previously run one of RSIM’s mutual funds.

Sanctuary Wealth Services, which is based in the San Francisco Bay Area, provides business support services for breakaway advisors. The firm launched a broker-dealer, Sanctuary Securities, in 2011 and also has a Securities and Exchange Commission-registered investment advisor, Sanctuary Advisors, which advisors can join.

In December, the firm named Craig Johnson as chairman. Johnson is vice chairman of JMP Group, which owns one-third of Sanctuary, and is also a member of its executive committee.

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