Sanctuary Wealth Lures Another Ex-UBS Firm With $1.2B in Client Assets
Hybrid registered investment advisory Sanctuary Wealth added Dial Square Private Wealth to its growing network of partner firms. The Orange County, California-based firm, with $1.2 billion in total client assets, was co-founded by Jim Chiate and Tony Guinane, CFP, CRPC, who first partnered in 2003 at Merrill Lynch before bringing their practice to UBS in 2013.
“After building a remarkable practice in wirehouses, Jim and Tony, like many highly successful wealth managers limited by the employee model, 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,” said Vince Fertitta, president of wealth management at Sanctuary Wealth.
“We built Sanctuary as a destination where elite advisers with sophisticated businesses could work with a partner that is dedicated to helping them achieve their long-term goals,” continued Fertitta. “As evidenced by Dial Square, our value proposition resonates with the industry’s top advisers. I look forward to working with the team to continue its amazing success.”
Joining Chiate and Guinane at Dial Square are Owen Galasso, who will serve as vice president, registered operations manager; and Nazgol Nekoomaram, serving as a vice president, wealth associate.
“Going independent was not a quick decision,” said Chiate. “While we could have easily moved to another traditional wirehouse or private bank, once we understood the evolution of the independent space over the last decade, we couldn’t ignore the value independence would provide to our clients. After having our eyes opened, Sanctuary became the obvious choice.”
Dial Square will leverage Charles Schwab and Goldman Sachs as the firm’s custodians. With the firm’s support, Sanctuary said Dial Square will have the “innovative technology, back-office expertise, and wealth management solutions they expect and deserve.”
“From alternative investments to tax mitigation strategies to philanthropic legacy building, we now have an unfettered ability to offer our clients the best solutions in the industry. With Sanctuary, Schwab and Goldman in our corner, we are independent, but not alone,” said Guinane.
“We are thrilled to welcome Dial Square Private Wealth to our growing network,” added Adam Malamed, chief executive officer of Sanctuary Wealth. “With Sanctuary’s support, Jim, Tony and the entire Dial Square team will enjoy all the benefits of independence, along with our award-winning, customized service and solutions. We are committed to providing the team with the tools and resources they need to accelerate their success and create substantial equity in their own business.”
Over the past 12 months, Sanctuary has welcomed 16 new partner firms representing more than $10 billion in client assets. Of late, this includes Fossil Rock Private Wealth through partner firm mFORCE Capital with $400 million in total client assets, Velorum Wealth Management with $580 million in assets, and 1280 Financial Partners – the latter of which came from UBS and manages $2 billion in assets.
The Sanctuary Wealth network now includes more than 125 partner firms in 32 states, with over $55 billion in assets on and in transition to platform.
Sanctuary is a hybrid registered investment adviser, delivering comprehensive wealth management solutions, platform partnerships, and strategic capital investments to sophisticated independent wealth management firms. Sanctuary Wealth expanded its affiliation options by acquiring tru Independence in 2024.
The Sanctuary Wealth network currently includes more than 125 partner firms in 32 states nationwide, with over $50 billion in assets on platform. Sanctuary Wealth consists of the wholly owned subsidiaries: Sanctuary Advisors LLC, SEC-RIAs; and Sanctuary Securities Inc., a FINRA member broker-dealer; as well as Sanctuary Alternative Holdings, Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, Sanctuary Global Family Office, and tru.
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