July 11, 2022
By Ali Hibbs
One acquisition will bolster Sanctuary’s retirement plan offerings, while the other will add $150 million in assets under management in Arkansas.
Sanctuary also announced last week the acquisition of Marriott Wealth Advisors in Hot Springs Village, Ark., which will become a division of Sanctuary partner firm mFORCE Capital in Fort Worth, Texas. Marriott, an independent firm specializing in retirement planning, was founded in 2010 by Joseph Marriott, a 30-year veteran of the financial services industry, who will be joined by two team members.
According to Longley, the opportunity to solve for succession issues, providing long-term stability and room for growth, was the main motivation behind Marriott’s decision to sell his practice.
“Joe Marriott wanted a succession plan that would assure his clients continued to receive the care and attention that he and his team have delivered for so many years, and mFORCE Capital was looking for additional opportunities in a new market,” said Longley. “The two teams were highly compatible, and we were able to help them come together in a way that allows each team to realize its own objectives.”
“We both come from a wirehouse background and share a ‘client first and always do the right thing’ attitude. It just seemed like a natural fit,” said mForce founder and CEO Brad Bruce. “And on top of that, as a native Arkansan, I had always wanted to have a footprint in the state. Together with mFORCE’s COO Joana Horton, I’ll be working to integrate Marriott Wealth Advisors into the Sanctuary network and doing all we can to help them be even more successful.”
The acquisition will bring an additional $150 million in AUM under the Sanctuary umbrella, which has grown to about $25 billion in client assets since it was founded just four years ago.