Sanctuary Wealth Adds $300 Million Wells Fargo Team

Sanctuary Partner Firm SLK Adds Los Angeles-Based Former Colleagues
Adam Weinstock, Managing Partner, and Eleanor Weinstock, Managing Director and Senior Financial Advisor, SLK Private Wealth
Adam Weinstock, Managing Partner, and Eleanor Weinstock, Managing Director and Senior Financial Advisor, SLK Private Wealth

Los Angeles-based advisors Adam Weinstock and Eleanor Weinstock have left Wells Fargo Advisors for SLK Private Wealth, a Sanctuary Wealth partner firm. The team’s $300 million practice was built by providing wealth management services to athletes, entertainers, entrepreneurs and corporate executives, according to the Sanctuary press release.

As part of the deal, Adam Weinstock will become a Managing Partner of SLK, the $1.6 billion firm founded in 2022 when Glen Strauss, Jonathan Lewis and EJ Kahn left Wells Fargo to establish an independent business with Sanctuary. Eleanor Weinstock will become a Managing Director and Senior Financial Advisor.

“Adam and Eleanor run a sophisticated, high-touch advisory business that will fit perfectly with SLK’s culture and approach,” said Strauss. “Adam will take on a leadership role at SLK, bringing on new clients, continuing to build the practice and ensuring seamless client service for decades to come.”

Vince Fertitta, President, Sanctuary Wealth
Vince Fertitta, President, Sanctuary Wealth

The team points to enhanced flexibility, growth and succession opportunities as reasons for their move to SLK and Sanctuary.

“I’ve been interested in the independent space for several years and have fielded offers from a broad spectrum of firms but nothing that mirrored the opportunity we see with SLK,” explained Adam Weinstock. “I’ve known and respected the SLK team from our years together at Wells Fargo and have been incredibly impressed with the people and platform at Sanctuary.”

“Adding a team like the Weinstocks not only enhances their offering to clients but improves their margins and increases the enterprise value of their business,” said Vince Fertitta, President of Sanctuary Wealth. “Adam and Eleanor made the move to independence based on their trust in their former colleagues and the range of solutions they could offer their clients within the Sanctuary platform.”

In May, Sanctuary acquired tru Independence, with 30 RIA firms managing $12.5 billion in assets. The firm now supports approximately 120 independent wealth management firms managing over $42 billion of client assets.

Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at mmadden@wealthsolutionsreport.com.

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