Hybrid RIA Sanctuary Wealth Adds $477M Valen Private Capital

Sanctuary Wealth has added a wealth management firm, which manages $477 million in assets under management, as its newest partner firm. 

Paoli, PA-based Valen Private Capital, founded by John Durham, specializes in providing investment management, financial planning, risk management, and tax and estate planning, according to the firm’s website. 

Prior to joining Sanctuary Wealth, Durham was affiliated with Merrill Lynch since 2004, according to his BrokerCheck profile. 

Following the firm’s transition to Sanctuary, Durham is joined by Benjamin Durham, who most recently served as a wealth management specialist at Merrill Lynch and has joined Valen Private Capital as a partner and director of Financial Planning, and the firm is supported by director of Operations Lisa Downey, Sanctuary said. 

The new firm will custody with Goldman Sachs Advisor Solutions and will receive additional infrastructure and resources through Sanctuary Wealth, per the firm’s website. 

“As I evaluated independence, I wanted a partner that would allow me to build Valen Private Capital around my clients – not force my clients into someone else’s model,” John Durham said. “Sanctuary offered the combination of flexibility, experienced support and UHNW resources I was looking for, while allowing me to retain control of the firm I am building.” 

Valen Private Capital is the latest wirehouse breakaway team to move over to Sanctuary, following Walnut Creek, CA-based Soteris Private Wealth, which manages $800 million in assets under management and was also formerly affiliated with Merrill Lynch. 

Last month, Sanctuary also added Coeur d’Alene, ID-based Iron North Private Wealth, which was launched by former UBS advisors Brad Desormeaux and Abigail Allsup. 

Sanctuary Wealth oversees more than $58 billion in assets under management, with more than 125 partner firms across 32 states, the firm said.