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Sanctuary Partner Firm Grabs $300M Team from Wells Fargo

Adam and Eleanor Weinstock are joining SLK Private Wealth. The move comes two years after a group of Wells Fargo employees left the wirehouse to form the firm.

A pair of Los Angeles-based advisors with more than $300 million in client assets are joining SLK Private Wealth, a Sanctuary Wealth partner firm, from Wells Fargo.

Adam and Eleanor Weinstock’s move to SLK comes two years after a team of 13 Wells Fargo advisors left the wirehouse to form SLK under Sanctuary.

As a part of the move, Adam Weinstock will become an SLK managing partner, while Eleanor Weinstock will become a managing director (Eleanor is Adam's grandmother). 

Eleanor Weinstock has several decades of experience in the industry, beginning with Morgan Stanley in 1991 before joining Wells Fargo in 2017. Adam Weinstock had a brief stint at Northwestern Mutual before also joining the wirehouse in 2017, according to FINRA records

The duo helps manage accounts for athletes, entertainers, entrepreneurs and corporate executives. Adam Weinstock said he’d been “interested” in independence for several years, having fielded offers from several firms. However, nothing matched what he found with SLK.

“I’ve known and respected the SLK team from our years together at Wells Fargo and have been incredibly impressed with the people and platform at Sanctuary,” he said. 

According to SLK Managing Partner Glen Strauss, Adam Weinstock will take on a leadership role at SLK to bring in new clients. He said the team ran a “sophisticated, high-touch” business that would fit in well at SLK.

Like the Weinstocks, the team at SLK was also based in Los Angeles, totaling about $1.6 billion in managed assets. The group was led by Strauss, as well as managing partners Jonathan Lewis and Edward Kahn, and practiced as The Strauss/Lewis/Kahn Wealth Management Group of Wells Fargo Advisors before opting to join the Indianapolis-based Sanctuary.

Strauss had more than 35 years of industry experience, including at Wells and Lehman Brothers, according to FINRA records. Lewis spent nearly 30 years as an advisor (22 of which were at Wells Fargo), while Kahn entered the industry in 2013, joining Wells Fargo in 2016. 

The team also included partner and portfolio manager Hank Krakover, CIO Razmig Der-Taitian, financial advisor Joseph Plutsky and investment analyst Eric Beatty, as well as several client associates.

"Independence is the next logical evolution in our business. We chose to start our own firm in partnership with Sanctuary Wealth where we can control the client experience and truly act in their best interest without conflict or distraction," Strauss said at the time of the move in 2022.

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