SANCTUARY WEALTH EXPANDS AND ENHANCES ITS SANCTUARY ONE PLATFORM WITH BNY

Rhea-AI Summary

Sanctuary Wealth has announced an expansion of its multi-custodial wealth management platform through integration with BNY Pershing's Wove platform. The enhanced Sanctuary One platform will provide partner firms with a comprehensive suite of tools including Wove Investor, Wove Data, and Wove Advisory through a single interface. The integration aims to streamline advisor workflows by enabling holistic asset viewing and offering portfolio construction tools, trading features, and an integrated client portal.

The platform's foundational framework is designed to accommodate future integrations without service disruption, allowing Sanctuary partner firms to improve client experience and operational efficiency. This technological enhancement supports Sanctuary's growth strategy through organic expansion, acquisitions, and partnerships with wealth management firms.

Positive

• Integration with BNY Pershing's Wove platform enhances service capabilities
• Platform enables streamlined workflow and improved operational efficiency
• Framework supports future integrations without service disruption
• Technology upgrade supports company's growth strategy

Negative

• None.

News Market Reaction

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On the day this news was published, BK declined 1.18%, reflecting a mild negative market reaction.

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Integration of BNY Pershing's Wove Platform Allows Sanctuary Partner Firms to Elevate Client Experience

INDIANAPOLIS, Dec. 11, 2024 /PRNewswire/ -- Sanctuary Wealth (Sanctuary), providing elite financial advisors the freedom, flexibility, control and choice to thrive in an evolving industry, has announced the expansion and enhancement of Sanctuary's multi-custodial wealth management platform. By leveraging BNY Pershing's Wove platform, Sanctuary will continue its growth momentum while offering elevated services to its partner firms and their clients.

All Sanctuary partner firms will now have access to the upgraded Sanctuary One platform powered by BNY Pershing's Wove, designed to help connect an investor's complete financial picture in one place.

"Having the right technology partner as Sanctuary continues to add scale through organic growth, strategic acquisitions and ongoing partnerships with elite wealth management firms is critical to creating exceptional advisor and client experiences," said Bob Walter, President, Sanctuary Wealth. "With its seamless integration of technology tools into a single, data-driven interface, Wove platform allows our partners to elevate their wealth management offering. We're excited to collaborate on the launch of Wove, to enhance our offerings and empower our partner firms to do more for their clients."

The Wove platform incorporates BNY Pershing's interoperable suite of products, including Wove Investor, Wove Data and Wove Advisory through a single source. Through a foundational framework designed to enable future integrations without disruption to services, Wove enables Sanctuary partner firms to improve the experience they provide to clients. It also streamlines the advisor's workflow, letting them view assets holistically, regardless of where assets are held to better service Sanctuary's clients. This platform includes portfolio construction and analytics tools, innovative trading and rebalancing features, a proposal tool and a client portal integrated with Sanctuary's existing tech stack.

"We are thrilled to help Sanctuary and their partner firms' growth ambitions by providing their advisors with next-generation solutions to meet their clients' evolving needs today and for the future," said Ainslie Simmonds, Head of Global Strategy, BNY Pershing and President, BNY Pershing X. "We believe in empowering advisors to spend more time focused on their clients by providing them with investment technology and solutions to seamlessly connect all the components of their clients' financial picture in one place and meaningfully cuts down on administrative tasks."

Kevin Pearly, Founding Partner and Private Wealth Advisor at SkyPath Private Wealth and a member of Sanctuary's Wove pilot group added, "Sanctuary is leading the way by integrating Wove platform into its partner firms, setting a new standard for productivity and client service. Independent advisors have access to up-to-date and cutting-edge technology, however, often these applications do not communicate with each other. Wove is designed to solve for this by bringing these tools together, providing financial advisor teams the potential to focus more time on personalized client engagement, strengthening relationships and driving business growth."

About Sanctuary Wealth

Sanctuary Wealth (sanctuarywealth.com) is the advanced platform for elite advisors with the entrepreneurial spirit to build, own and create lasting equity in their practices while delivering clients the tailored service they deserve. It is committed to providing partner firms with unequaled freedom, flexibility, control and choice through an ecosystem of partnered independence that offers a complete technology and operations platform, support from a community of like-minded advisors and the resources of invaluable affiliated businesses. Sanctuary Wealth and its tru Independence brand offers partner firms multiple affiliation models to best serve their unique needs.

Currently, the Sanctuary Wealth network includes more than 120 partner firms in 30 states nationwide, with approximately $48 billion in assets on platform. Sanctuary Wealth consists of the wholly owned subsidiaries: tru Independence and Sanctuary Advisors LLC, SEC-registered investment advisers, Sanctuary Securities, Inc., a FINRA member broker-dealer, as well as Sanctuary Alternative Holdings, Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Family Office.

About BNY

BNY is a global financial services company that helps make money work for the world — managing it, moving it and keeping it safe. For 240 years we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we help over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. We support governments in funding local projects and work with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of March 31, 2024, we oversee $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people globally and have been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow us on LinkedIn (link) or visit our Newsroom (link) for the latest company news.

BNY Pershing (member FINRA, NYSE, SIPC) is a leading provider of clearing and custody, trading and settlement, advisory and investment solutions, data insights, business consulting and other services to wealth management and institutional firms looking to grow their businesses.

Brokerage custody provided by Pershing LLC, member FINRA, NYSE, SIPC, a BNY company. Brokerage services may be provided by Pershing Advisor Solutions LLC, member FINRA, SIPC. Bank custody provided by BNY Mellon, N.A, member FDIC. Investment advisory services, if offered, may be provided by BNY Mellon Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940 or one or more affiliates of BNY. Technology services may be provided by Pershing X, Inc. For more information visit www.pershing.com.

Media Contacts for Sanctuary Wealth
Donald Cutler or Joseph Kuo
Haven Tower Group
424-317-4864 or 424 317 4851
dcutler@haventower.com or jkuo@haventower.com

Media Contacts for BNY Pershing
Courtney Woolston
Courtney.woolston@bny.com

View original content:https://www.prnewswire.com/news-releases/sanctuary-wealth-expands-and-enhances-its-sanctuary-one-platform-with-bny-302328472.html

SOURCE Sanctuary Wealth

FAQ

What benefits does BNY Pershing's Wove platform bring to Sanctuary Wealth's clients?

The Wove platform enables clients to view their complete financial picture in one place, with integrated portfolio construction tools, trading features, and a client portal, leading to enhanced service delivery and more personalized client engagement.

How does the Wove integration affect Sanctuary Wealth's operational efficiency?

The integration streamlines advisor workflows by providing holistic asset viewing capabilities and consolidating multiple tools into a single interface, reducing administrative tasks and improving productivity.

What technological features are included in the Sanctuary One platform upgrade?

The upgrade includes Wove Investor, Wove Data, and Wove Advisory, along with portfolio construction and analytics tools, trading and rebalancing features, a proposal tool, and an integrated client portal.

How does the Wove platform support Sanctuary Wealth's growth strategy?

The platform's foundational framework supports future integrations without disruption, enabling Sanctuary's growth through organic expansion, strategic acquisitions, and partnerships with elite wealth management firms.