Sanctuary Wealth, a registered independent advisor platform for growing and newly independent advisors, has welcomed its newest advisor, Robert Lehrer, who founded Mesa Pointe Wealth in Midland, Texas, after leaving financial services giant Edward Jones.
Lehrer joined Edward Jones in 2006, following a stint on the financial side of the agriculture business. He is launching Mesa Pointe with approximately $120 million in client assets under management
Sanctuary Managing Director Phillip Porpora said the ecosystem and open architecture platform provided by Sanctuary offered Lehrer, who “felt limited” at Edward Jones, access to better technology, marketing and other solutions, “from private deals to insurance, ultra-high-net-worth planning strategies, and a more robust investment platform.”
"My desire to go independent stemmed from my need for a bigger toolbox that would allow me to accelerate growth by providing more solutions for my clients,” Lehrer said in a statement.
“And although I'm not yet at that point in my career,” he added, “the flexibility that Sanctuary Wealth offers in terms of succession planning is also really important to me.”
“We're excited to expand the Sanctuary Wealth footprint into this new market and look forward to facilitating growth for Mesa Pointe Wealth and helping Robert's clients realize their dreams,” said Porpora.
Since it was founded as a destination for breakaway wirehouse advisors in 2018, Sanctuary has pursued an aggressive mergers and acquisitions strategy—adding seven teams year to date. Recently, the firm announced that it has secured $175 million in financing in the form of a convertible note from New York–based Kennedy Lewis Investment Management that CEO Jim Dickson said would fuel even more M&A activity.
“With Robert Lehrer and Mesa Pointe Wealth joining Sanctuary Wealth,” said Dickson, “we have partner teams in all the major pockets of wealth across Texas.”
Currently, the Sanctuary network includes partner firms in 26 states across the country with approximately $25 billion in assets under advisement.
The Sanctuary Wealth Group includes the fully owned subsidiaries Sanctuary Advisors, a registered investment advisor, and the broker/dealer Sanctuary Securities, as well as Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Tax and Family Office.