Sanctuary Wealth adds $250m Merrill breakaway in Houston
February 25, 2020
By Ian Wenik
A $250m Merrill Lynch advisory team has broken away to set up its own shop on Sanctuary Wealth’s RIA platform.
Former Merrill Lynch senior resident director Robert Gilliland has exited the wirehouse to launch Concenture Wealth Management in Houston, Texas. Gilliland, who had been with Merrill Lynch since 2003, has launched his new shop with one other advisor, Karen Heider, and one support staffer, Codi Welch, both of whom also previously worked at Merrill Lynch.
Gilliland told Citywire he began contemplating a breakaway 18 months ago when he saw there were other options to grow his practice outside of the wirehouse model.