Next gen advisor from Morgan Stanley launches wealth management firm with $170 million in client assets and partners with Sanctuary to scale business for future growth
INDIANAPOLIS, March 17, 2023 /PRNewswire/ — Sanctuary Wealth (Sanctuary), home to the next generation of elite advisors, welcomes Iterhic Wealth Advisors (Iterhic) and its founder Matt Terwilliger, CFP®, the latest wirehouse advisor to embrace partnered independence with Sanctuary.
Formerly a member of Morgan Stanley’s The Edwards Group of Columbus, Ohio, Terwilliger and his staff brings $170 million in client assets under advisement to Sanctuary. Iterhic Wealth Advisors is the third wirehouse breakaway firm from Ohio to join Sanctuary in 2023.
Iterhic provides comprehensive wealth management services to individuals and families, focusing on planning strategies for first first-generation business owners, executives with significant equity and deferred compensation as well as professional athletes. These clients, many in their peak earnings years, often need assistance aligning non-sequential compensation and tax strategy with their broader financial planning goals.
Morgan Stanley Veteran Focuses on Planning Needs Across Client Life Cycle
“Matt is exactly the type of next generation advisor our industry needs,” said Vince Fertitta, President, Wealth Management, Sanctuary Wealth. “Having built an impressive business at a major wirehouse, he is ready to make the move to partnered independence with Sanctuary. We welcome Matt and his team to Sanctuary and look forward to providing them with the services, support and resources they need to scale their business and achieve their ambitious growth goals.”
The firm’s name, Iterhic, has its roots in Latin and translates to “journey to here.” The brand reflects the firm’s identification of a significant and underserved client segment – Professionally successful clients who have pressing priorities beyond retirement planning. With the majority of clients between their mid-30s and mid-50s, Iterhic works on financial planning for clients going through the stages of life that take place well before retirement, and which are most immediately important to this segment. This includes college savings, caring for elder parents and other issues vital to the life journey of younger families.
“Sanctuary understands what the next generation of advisors are looking for to serve their clients and have built their platform around those needs,” said Terwilliger. “I’m excited to start the next chapter of my career as an independent advisor with a firm that thoroughly understands and fully embraces the unique needs of wirehouse advisors going independent.”
Recruiting Next Gen Advisors, Partnering with Retiring Advisors
Terwilliger continued, “Michael Longley and the rest of the Sanctuary team actively encouraged me to talk with multiple Sanctuary Partner Firms during our due diligence process. Without exception, each Partner Firm told me about the overwhelming support they received to ease their transition, combined with the freedom and flexibility that empowers them to succeed. Hearing firsthand from a broad cross section of individuals who have successfully moved from the wirehouse channel to independence made Sanctuary the obvious choice for our firm.”
Terwilliger began his financial services career as a Financial Advisor with Merrill Lynch in 2011, and then joined The Edwards Group at Morgan Stanley in July 2014. He graduated from The Ohio State University in 2008 with a BS in Family Resource Management. While at Ohio State, Terwilliger was twice named captain of the two-time Big Ten Champion Men’s Basketball team, leading his team deep into the NCAA tournament. After graduating, he spent three years playing professional basketball in Germany. Terwilliger, a General Securities Representative and Investment Advisor Representative, earned his Certified Financial Planner designation in 2017.
“Like many of the breakaway advisors we attract, Matt has a unique and sophisticated business,” said Adam Malamed, CEO of Sanctuary Wealth. “He is looking to grow his practice by bringing on both younger advisors eager to build their careers in an independent model and older advisors looking for a succession plan that lets them transition out of the business on their own terms. With Sanctuary, he has found a world class platform that is ready and eager to help him achieve his professional growth objectives and best serve his clients. I’m excited about all that we can accomplish together in the coming years.”
About Sanctuary Wealth
Sanctuary Wealth (sanctuarywealth.com/) is the advanced platform for the next generation of elite advisors, who have the entrepreneurial spirit to build and own their own practices and desire the freedom to deliver the tailored service their clients deserve. Sanctuary Wealth’s ecosystem of partnered independence provides a complete technology and operations platform, as well as support from a community of like-minded advisors and the resources of invaluable affiliated businesses. Currently, the Sanctuary Wealth network includes partner firms in 28 states across the country with approximately $25 billion in assets under advisement. Sanctuary Wealth includes the fully owned subsidiaries; Sanctuary Advisors LLC, an SEC-registered investment adviser, Sanctuary Securities, Inc. a FINRA member broker-dealer as well as Sanctuary Alternative Holdings, Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Family Office.
Contact:
Donald Cutler
Haven Tower Group
424-317-4864
[email protected]
SOURCE Sanctuary Wealth
