Sanctuary Wealth Expands by Welcoming $1.2 Billion Breakaway Firm from UBS

In a significant development within the wealth management landscape, Sanctuary Wealth has announced the addition of Dial Square Private Wealth to its expanding network of partner firms. This firm, which is based in Orange County, California, brings with it $1.2 billion in client assets, marking a notable shift in the dynamics of high-net-worth advisory services. Co-founded by seasoned professionals Jim Chiate and Tony Guinane, the venture aims to provide a more tailored and innovative approach to wealth management for a discerning clientele.

The Genesis of Dial Square

Jim Chiate and Tony Guinane have been partners since 2003, initially working together at Merrill Lynch before shifting their successful practice to UBS in 2013. Their decision to create Dial Square was rooted in a desire for independence and greater control over their services. They recognized that the traditional employee model at wirehouses was limiting their ability to meet the unique needs of their ultra-high-net-worth (UHNW) clients effectively.

According to Vince Fertitta, President of Wealth Management at Sanctuary Wealth, the move to establish Dial Square was a strategic decision to unlock the potential that Jim and Tony had built over the years. He commented, "They decided to start their own firm, unlocking the valuable asset they have worked so hard to build while removing restrictions on what they can offer to their clients."

Enhancing Client Experience with Independence

The essence of going independent for Chiate and Guinane was about more than just branding; it was about elevating the client experience. They entered into a partnership with Sanctuary, which is renowned for enabling elite advisors to work in an environment designed for their success. "Sanctuary became the obvious choice. They speak our language and truly understand our business, as well as where we want to take it," Chiate stated, highlighting the alignment with Sanctuary’s philosophy.

Dial Square’s independence allows it to utilize the best-in-class capabilities of custodians like Charles Schwab and Goldman Sachs. This strategic partnership provides Dial Square clients with access to innovative technology, superior back-office support, and robust wealth management solutions tailored to sophisticated financial needs.

A Legacy of Excellence in Wealth Management

Both Chiate and Guinane have been recognized on prestigious lists such as Forbes’ Top Wealth Management Teams and Barron’s Top 250 Private Wealth Management Teams in 2025. Their achievements underscore their commitment to high standards in financial services. Joining them in this new endeavor is a team that includes Owen Galasso, who will serve as Vice President and Registered Operations Manager, along with Nazgol Nekoomaram, a Vice President and Wealth Associate.

The duo’s extensive experience positions Dial Square as a formidable player in the wealth management arena, particularly as it caters to affluent clients with complex financial demands. Guinane expressed that the transition to independence was pivotal for their practice: "We have intensely close relationships with our clients, and we made this move to elevate the overall experience we provide."

Future Growth and Opportunities

Sanctuary Wealth has been proactive in expanding its network, having integrated 16 new partner firms in the past year alone, which collectively manage over $10 billion in assets. The overarching goal is to create a robust ecosystem where independent advisors can flourish and grow their businesses.

Adam Malamed, CEO of Sanctuary Wealth, reiterated the firm’s commitment to supporting Dial Square. He stated, "We are thrilled to welcome Dial Square Private Wealth to our growing network. With Sanctuary's support, the team will enjoy the benefits of independence, aligned with our award-winning and customized service."

The Sanctuary Wealth network now encompasses over 125 partner firms across 32 states, collectively managing more than $55 billion in assets. As the landscape of wealth management continues to evolve, firms like Dial Square embody the shift toward a more independent, client-oriented approach to service.

In conclusion, the rise of Dial Square Private Wealth stands as a testament to the growing trend of financial advisors seeking greater autonomy in their practices. By leveraging the infrastructure and support of Sanctuary Wealth, they are ideally positioned to offer unparalleled services to their high-net-worth clients while navigating the intricate dynamics of wealth management in today's environment.