Sanctuary Wealth Expands Its Reach with New Pierstone Wealth Management Team

Sanctuary Wealth (Sanctuary), recognized as a leading hybrid Registered Investment Advisor (RIA), is making significant strides in the financial advisory landscape by welcoming Pierstone Wealth Management (Pierstone) to its growing network. Founded by Kyle Young, who has an impressive history of managing $350 million in client assets at Morgan Stanley, the addition of Pierstone marks another milestone in Sanctuary's mission to empower elite financial advisors and foster independence in wealth management.

Kyle Young, a Certified Financial Planner® and a recognized voice in the financial community particularly for LGBTQ+ issues, leads the Pierstone team, which is based in New York City. Young's approach to wealth management seeks not just to grow assets, but to inspire clients to align their financial strategies with their personal values and aspirations.

In a recent statement, Vince Fertitta, President of Wealth Management at Sanctuary Wealth, noted that after two decades with wirehouses, Kyle's decision to join Sanctuary was driven by a vision for a more aligned business model that champions independence and client-centric services. Fertitta emphasized Sanctuary's supportive infrastructure designed specifically for sophisticated client needs, allowing advisors like Young to operate at the height of their capabilities.

Focus on Empowerment and Client Values

Pierstone's business model is built on a comprehensive suite of financial services, including estate and trust planning, risk management, tax strategies, and philanthropic advising. This holistic approach ensures that the firm can provide clients with a tailored experience that goes beyond mere investment; it fosters personal fulfillment and social good—anchoring clients' wealth to their intrinsic values.

Young's dedication to serving the LGBTQ+ community has set him apart in the wealth management sector. His previous insights and advocacy have been featured in prominent publications such as Forbes, CNBC, and The New York Times, positioning him as a thought leader on financial issues affecting diverse communities. “I didn’t want just another job after leaving my former firm. I sought a long-term home,” Young mentioned in a recent interview. His choice of Sanctuary stems from a desire for a nurturing environment rich in resources while still preserving the boutique feel that fosters personal and professional growth.

Pierstone’s Commitment to Excellence

Pierstone adheres to a disciplined process that prioritizes clarity, consistency, and results in its financial management strategies. Clients can expect an unwavering commitment rooted in knowledge and integrity. The team also aims to bridge the gap between traditional investment management and the personalized aspirations of their clientele, allowing their financial narratives to inspire real change.

The addition of Pierstone Wealth Management aligns with Sanctuary Wealth’s broader strategy of attracting elite advisory teams ready to thrive in an ecosystem that promotes entrepreneurship, flexibility, and control. Adam Malamed, CEO of Sanctuary Wealth, expressed excitement about the partnership, highlighting Young's strong commitment to his clients and his visionary outlook for building a sustainable practice.

“It’s crucial to find partners who believe in our mission and vision, and we’re thrilled that Kyle and his team see Sanctuary as the platform to elevate their work,” said Malamed. The synergy between Sanctuary’s comprehensive capabilities and Pierstone’s commitment to client excellence paves the way for new opportunities and enhanced service delivery within the wealth management sector.

Conclusion

The evolution of Sanctuary Wealth through its partnership with Pierstone Wealth Management exemplifies the ongoing changes in the wealth management industry, where independence, flexibility, and client alignment are increasingly valued. As more advisors seek to operate outside the bounds of traditional financial institutions, Sanctuary is poised to become a beacon for those looking to redefine their business models and connect more deeply with their clients. With leaders like Kyle Young at the forefront, the future of wealth management looks promising, heralding a new era of empowered advisory services.