Sanctuary Wealth Adds Minneapolis-Based NewSpring Wealth Partners From UBS
Independent broker-dealer Sanctuary Wealth recently added NewSpring Wealth Partners to its growing network. Founded by wealth adviser Kristin Larson, CFP, CPWA, the Minneapolis-based firm manages nearly $200 million in total client assets. Before establishing her independent practice with Sanctuary, Larson spent the past nine years serving clients at UBS.
“It’s my pleasure to welcome Kristin and NewSpring Wealth Partners to the Sanctuary family,” added Adam Malamed, chief executive officer of Sanctuary Wealth. “As the great wealth transfer continues, women will gain even greater control over the nation’s finances and many will look to accomplished women like Kristin to manage their assets and achieve their financial goals. I’m proud that Sanctuary has the platform and culture that continues to attract such high-quality, women-led partner firms, and we stand committed to ensuring Kristin has all she needs to succeed in the independent space.”
NewSpring Wealth Partners is an independent advisory firm committed to partnering with clients to grow their wealth and financial confidence. Larson has over a decade of experience in the wealth management industry and takes a highly personal approach, serving as a trusted financial adviser and advocate for clients.
“Kristin’s client-focused approach and core values align perfectly with Sanctuary’s, and we look forward to helping her continue making her mark in the business,” added Vince Fertitta, president of Sanctuary Wealth.
Before founding NewSpring, Larson most recently served as senior vice president, wealth management and financial adviser with the Carlson Larson Wealth Management group at UBS Financial Services Inc. from 2016 to 2025. Prior to UBS, she served in various planning and client service roles at Wells Fargo Advisors and Ameriprise.
“Once I got a glimpse of what is possible in the independent space, I couldn’t unsee how much better I would be able to serve and communicate with clients than continuing to work as an employee,” said Larson. “With Sanctuary, I’ve found a true partner who will support my practice, helping me empower mid-career professionals, especially women, who, like me, are starting on new journeys. Access to best-in-class technology, solutions, and coaching coupled with the freedom and flexibility to grow my brand as I see fit, made Sanctuary the perfect place to launch NewSpring.”
Larson received her bachelor’s degree in accounting from the University of Minnesota, Twin Cities.
Last month, Sanctuary Wealth added Hillguard Wealth Management – part of Sanctuary Global and formerly with Truist Wealth. Hillguard represents about $700 million in assets. In August 2024, Sanctuary added TOVA Wealth, a former Merrill Lynch practice based in Wilmington, N.C., with more than $400 million in client assets. That followed closely on Sanctuary’s acquisition of tru Independence, a Portland, Ore.-based enterprise managing $12.5 billion in client assets.
In total, the Sanctuary Wealth network currently includes more than 120 partner firms in 30 states nationwide, with approximately $50 billion in assets on platform.
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