After much due diligence, this young UBS team with $770mm AUM found the ideal path for their independent business with Sanctuary Wealth.
I started my career with UBS, learned the business there and had a great experience overall, but we feel that we are now ready to take the next step by establishing our own firm to serve clients in the manner that they and we think is best for them.
Matthew Murphy, CFP®
Chief Executive Officer
Partner, Marble Wealth
To Matthew Murphy, a UBS advisor who launched his career in wealth management with the firm some 14 years ago, it became apparent that to serve their clients “in the manner they thought was best” meant not simply changing firms but changing models. Because at the end of the day, they felt they were limited in what they could do for their clients within the wirehouse environment.
“We wanted to be able to offer our clients more solutions and advise them on all facets of their financial life,” shared partner Rebecca Baker, a 6-year veteran with UBS.
So, they jumped into due diligence, heading down a path to explore the idea of launching their own RIA.
“When you consider all the things that it takes to open an RIA, all that work takes away from time with your clients,” Rebecca told Barron’s.
And for Matthew, Rebecca, and their team, the move was all about doing more for their HNW and UHNW clients—including the ability to offer sophisticated lending solutions that were not accessible at UBS.
With guidance from Diamond Consultants, they were introduced to Sanctuary Wealth—a solution that offered them support to get the business up and running more quickly than they might on their own, plus the scaffolding and support that they hadn’t considered they might need early on.
Murphy said. “After extensive due diligence, we are convinced that aligning with Sanctuary is best for our clients and for us as business owners. The Sanctuary Wealth model of partnered independence provides tools and resources that will allow our team to go deeper with our clients,” Matthew said. “We can decide how we want to grow, who we want to hire—all the things we couldn’t do in a wirehouse model.”
The new independent firm will be known as Marble Wealth and is headquartered in Montgomery, AL. Matthew will serve as CEO, Rebecca as COO, and partner Adam Rogers as CIO.
They chose Fidelity as their custodian, a firm they felt provided exceptional strength in platform and lending solutions.
Diamond Consultants is pleased to have represented the Marble Wealth team and looks forward to hearing more about their journey in the future.
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More About this Move….
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Young UBS Team With $770 Million Goes Indie With Sanctuary
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This post first appeared on Perspectives For Financial Advisors From Diamond Consultants, please read the originial post: here
