With Merrill roots dating back to the 1980s, brothers Brent and Brad Chappell decided that independence with Sanctuary Wealth provided a better path for the future of Chappell Wealth Management.
We liked Sanctuary’s model, which is kind of independence, but not alone. We don’t want, for example, to do all of our compliance. We’d rather have someone else take care of that so we can focus on the more important things to us, which includes taking care of clients.
Managing Partner & Founder
Chappell Wealth Management
For brothers Brent and Brad Chappell, Merrill was truly a family business, with roots dating back to 1984 when their father Robert first established a practice with the firm in The Woodlands, a suburb of Houston, TX.
Brad and Brent continued in their father’s footsteps with Chappell Wealth Management’s larger belief in doing what’s best for clients and remaining true to their “old school” values and commitment to upholding the highest standards of personal service, integrity, and transparency.
With such a strong legacy at Merrill, it was hard for the brothers to ever consider leaving the firm. But, to them, the idea of retaining control of their own destiny and not being beholden to the policies and agenda of a bank parent became clearer over time—and was essential for their future.
Put another way, Merrill was more than good enough for today, but as a young team, they didn’t feel it was quite right for the long-term or their goal of building a sustainable, multi-generational business.
They felt the Merrill platform was compelling and could not be bested by another wirehouse or employee model. Plus, they wanted a more flexible and advisor-friendly compliance culture where they could scale messaging to clients and provide rapid insights.
Independence was the route they were most interested in, but they also wanted to ensure that their family lives and community commitments remained a priority—and starting an RIA from scratch would take far more of their time than they desired.
Sanctuary Wealth offered them the best of all worlds. They could have the freedom, flexibility, and ownership they desired, with the support to help them launch and operate their business.
“We liked Sanctuary’s model, which is kind of independence, but not alone,” Brent shared in an interview with Barron’s. “We don’t want, for example, to do all of our compliance. We’d rather have someone else take care of that so we can focus on the more important things to us, which includes taking care of clients.”
In a statement from Sanctuary Wealth, President Vince Fertitta, also a Merrill alum, said of Chappell Wealth: “When I imagined the culture that we wanted to build at Sanctuary, I had this office in mind. Brent and Brad Chappell are incredible human beings. They took the business to another stratosphere but never lost the humility and moral compass that they learned from their dad.”
Chappell Wealth is the largest team to join Sanctuary to date and the 17th that Sanctuary has signed in Texas.
Brent and Brad are joined by Spencer Carlson and Michael Mills, along with their client relationship team.
Diamond Consultants is pleased to have represented Brent and Brad and looks forward to hearing more about Chappell Wealth’s growth in the future.