The Move at a Glance
After more than two decades at Merrill Lynch, John Durham has launched Valen Private Capital, an independent multi-family office designed to serve a select group of ultra-high-net-worth families with complex planning, estate, and legacy needs.
Durham, who managed approximately $477mm in client assets, joins Sanctuary Wealth’s Partnered Independence platform after 21 years with Merrill. He is joined by his son, Benjamin Durham, who serves as Partner and Director of Financial Planning.
Building a Family Office Without Limitations
John’s path to independence was less about leaving Merrill and more about creating a business structure aligned with how he had been serving clients for years.
With a background in estate planning and a J.D., John built a highly specialized practice focused on a relatively small number of ultra-high-net-worth families, including multi-generational relationships and complex wealth planning situations. Over time, he found himself operating what was effectively a family office within the confines of a traditional wirehouse model.
As his business evolved, so did his vision.
John wanted greater flexibility to customize solutions for clients, expand the breadth of services available to them, and build an enduring enterprise with long-term ownership value. Just as importantly, he wanted to create a platform that could serve future generations of both clients and advisors.
Evaluating the Next Chapter
John entered the process having already researched the industry landscape, including using ChatGPT to explore firms, models, and potential paths forward. While the exercise demonstrated the breadth of options available, it also became clear that it lacked the industry knowledge and insight needed to separate possibilities from solutions that were truly aligned with his business, clients, and long-term vision.
Working with Diamond Consultants, John evaluated a range of alternatives, including independent broker dealers, supported independence platforms, and launching a standalone RIA. Through the due diligence process, we helped narrow the field, provide context around the available models, and identify the structure that offered the right balance of flexibility, ownership, support, and growth potential.
Ultimately, it became clear that while he wanted greater ownership and control, he preferred to avoid the operational burden and upfront infrastructure required to build an independent firm entirely from scratch.
Why Sanctuary Wealth
Sanctuary Wealth emerged as the preferred solution because it offered a combination of entrepreneurial freedom and institutional support.
The firm provided the flexibility and ownership structure John sought, while also offering the infrastructure, transition support, and ultra-high-net-worth capabilities necessary to support a sophisticated family office model. Sanctuary’s acquisition of Tru Independence further enhanced the opportunity by allowing John to establish his own ADV while leveraging the resources and support of a larger platform.
Equally important was Sanctuary’s experience helping wirehouse advisors navigate independence, including many former Merrill advisors. That familiarity gave John confidence that the firm understood both his business and his vision for the future.
Diamond Consultants’ Role
Diamond Consultants helped John gain the clarity he needed to navigate a crowded and often confusing landscape of options, providing industry context, objective guidance, and strategic perspective throughout the due diligence process.
Together, we focused on identifying the model that best aligned with John’s goals: delivering an elevated family office experience, creating enterprise value, preserving flexibility, and building a lasting legacy for future generations.
We’re grateful that John chose to partner with us during this important transition and look forward to following the continued growth of Valen Private Capital.
Why Transition
- Built what was effectively a multi-family office within Merrill and wanted a structure better aligned with that model.
- Sought greater flexibility to customize solutions and enhance the client experience.
- Wanted more control and ownership over the business he had built.
- Aimed to unlock the enterprise value and equity of his practice.
- Desired to create a lasting legacy alongside his son, Benjamin Durham.
- Plans to grow both organically and through future acquisitions.
Why Use Diamond Consultants?
- Helped make sense of a crowded landscape of firms, platforms, and business models.
- Provided context beyond initial research, including options identified through ChatGPT and other sources.
- Guided the evaluation of supported independence, IBD, and standalone RIA models.
- Helped narrow the field to solutions aligned with John’s goals and vision.
- Served as an objective sounding board throughout the due diligence process.
- Assisted in identifying a model that balanced ownership, flexibility, support, and growth potential.
Moves in the News Highlights
- Sanctuary Wealth welcomes Valen Private Capital as a New Partner Firm
- Merrill Advisor With $477M AUM Joins Sanctuary, Launches Firm
- Valen Private Capital Latest Merrill Breakaway to Join Sanctuary Wealth
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