Indianapolis-based hybrid advisor platform Sanctuary Wealth is expanding further into the New York City metropolitan area with its latest addition in Rye, N.Y.
Crescent Pine Family Office Group, led by Ronan O’Byrne, will include Sam J. Berger and Dani Oliveira in the back office. O’Byrne was previously affiliated with Fieldpoint Private Securities and brings with him about $230 million in assets under management.
“The New York metro market is an important one for Sanctuary Wealth’s continued growth,” Sanctuary CEO Jim Dickson said in a statement. “We couldn’t be happier that Ronan O’Byrne chose to launch his independent firm Crescent Pine Family Office Group on the Sanctuary platform.”
“I wanted to start an independent firm, but I didn’t want to do it alone,” said O’Byrne. “Sanctuary is the perfect fit, offering the support and capabilities of a boutique private bank in an independent environment.
“It is true open architecture, plus we have access to all of the solutions that Sanctuary has curated on behalf of their partner firms,” he said. “This includes Fieldpoint Private banking solutions, which was extremely important to me.”
O’Byrne joined Fieldpoint in 2014 following a 20-year capital markets career running a private multi-family office practice focused on ultra-high-net-worth families, wealthy entrepreneurs and business owner-operators.
“Ronan O’Byrne has built a highly-successful practice in a very short period of time by solving for the complexities that often come with substantial wealth,” said Sanctuary President Vince Fertitta. “We’re highly gratified that he chose partnered independence with Sanctuary Wealth and are firmly committed to helping Crescent Pine Family Office Group reach its full potential by offering the solutions their clients deserve and the support the business needs.”
Funding announced earlier this month is supporting Sanctuary’s ongoing mergers and acquisitions efforts, which have been focused largely on expanding further into the New York City metro area over the last year.
“Let’s just be honest,” Dickson told WealthManagement.com one year ago, “New York is the hub of the financial services world. And so if we want to be a global player, as we do, we needed to have a presence there.”
Currently, the Sanctuary Wealth network includes partner firms in 26 states across the country with about $25 billion in assets under advisement.