Sanctuary adds $150m North Dakota shop
August 17, 2020
By Jake Martin
Sanctuary Wealth has widened its footprint in the upper Midwest with the addition of Fjell Capital, a two-person team based in Fargo, North Dakota, to its advisor network.
Led by Tom Stadum, the team was formerly affiliated with UBS and has about $150m in assets under management.
Jim Dickson, chief executive of Sanctuary, said that Fargo represents a new market for his firm, which now has about $10bn in assets under advisement. The addition of Stadum also represents an injection of young blood into Sanctuary.
‘Tom Stadum is only 30 years old and is already a million dollar producer,’ Dickson said. ‘They’ve got a long runway ahead of them and they’re very growth focused, so they fit the Sanctuary model incredibly well.’