July 30, 2023
By Lisa Fu
Sanctuary Wealth on Friday scooped up a Los Gatos, California team overseeing $600 million in client assets from UBS Wealth Management USA, according to an announcement and registration records.
The four-person group led by Chris Glomb and his son Michael produced $3 million in revenue and marks the 10th team to join the Indianapolis-based independent broker-dealer this year, according to a spokesperson. Sanctuary added 18 practices in 2022 and is aiming to hire 20 teams during 2023, according to an earlier announcement.
They moved along with support staff Jessica Regidor and Sara-Belle Guglielmino, according to the announcement.
Chris and Michael have worked together for 15 years, and Chris had been part of UBS’s President’s Council–a production-based “club” that includes the top 5% of the wirehouse’s brokers, according to their former firm’s website.
The two had been contemplating a move for several years and met with Sanctuary for the first time two years ago, according to Friday’s announcement.
“They are small enough to give us personal attention, while large enough to provide all the resources we need to scale our business as we look to expand,” the elder Glomb said in a statement about why they chose Sanctuary.
