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A San Antonio, Texas-based financial advisor broke away from the registered investment advisor he co-founded to join Sanctuary Wealth.
Senior Wealth Advisor Joseph Schuetze has founded Marksman Wealth Management and joined the Sanctuary network of partner firms.
He leaves PAX Financial Group, a San Antonio RIA he co-founded, with $728 million in client assets, according to a Form ADV filing. It’s unclear how much Schuetze manages.
Schuetze is joined by Stephen Mendoza, wealth associate. He focuses on a multi-generational client base.
“As I considered how best to provide my clients with truly independent advice and support, Sanctuary stood apart from the other firms in the industry,” Schuetze said in a statement. “The team’s dedication to identifying the best technology, alternatives and strategies was unmatched in my search for a new partner, and I know that Sanctuary’s leadership and staff will make the process of building my own independent practice easier.”
This follows news last week that Sanctuary added Dial Square Private Wealth, an Orange County, Calif.-based firm managing about $1.2 billion in assets, from UBS.
Sanctuary acts as a hybrid RIA, with more than 125 partner firms in 32 states (totaling over $50 billion in assets on its platform). The firm has backing from the Italy-based asset manager Azimut, as well as Kennedy Lewis Investment Management.
In the past year, Sanctuary brought in 16 partner firms with over $10 billion in assets.
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