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Azimut makes strategic investment in Sanctuary Wealth

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Azimut Group (Azimut) is to make a significant equity investment in Sanctuary Wealth. Azimut, headquartered in Milan, Italy, is a publicly traded, global, independent investment manager with USD67 billion in assets under management.“Azimut’s DNA is made up of independence, entrepreneurship and value creation for both clients and shareholders. We found all these same values in Sanctuary and are thrilled to be partnering with such like-minded professionals,” says Pietro Giuliani, Chairman of Azimut Group. “Like Sanctuary, Azimut is fundamentally a growth-oriented company with a long-term vision and partially owned by our advisors and employees which is why we were aligned from day one. We are entrepreneurs committed to helping our partners achieve their greatest business potential by leveraging our long-standing expertise in asset management, private markets, distribution and a global presence in 17 countries around the world.”

“This transaction provides an unprecedented opportunity for Sanctuary to accelerate our growth,” says Jim Dickson, Sanctuary Wealth’s CEO. “The wealth management industry is in the midst of a massive shift as more than 100,000 advisors retire over the next few years, bringing an estimated USD1.6 trillion of assets into the market. With this strategic backing from Azimut, we are poised to assert ourselves as willing buyers of valuable advisory practices, for Sanctuary and on behalf of our elite advisor network.”

Although less than three years old, Sanctuary Wealth has quickly established itself as the leading platform for the next-generation of wealth managers in the US, who seek to own, operate and grow their own businesses. Through Sanctuary’s model of partnered independence, entrepreneurial advisors have the resources and services they need while enjoying the economies of scale afforded by large financial institutions.

Azimut will complete the transaction through its US subsidiary, AZ US Holdings Inc (AZUS). With the strategic backing from Azimut, Sanctuary Wealth will continue investing in the growth of its partner firms, and in strategic acquisition of other RIAs and wirehouse practices nationwide. The strategy and success of Sanctuary since inception has been exceptional. Sanctuary’s national network includes 41 partner firms, spans 17 states and employs more than 100 advisors with a total of USD12 billion in assets under advisement.

“We are excited to work alongside Jim, Vince, the senior management team and all the partner firms and employees at Sanctuary,” adds Massimo Guiati, CEO of AZ US Holdings and Co-CEO of Azimut Group. “Our global operations are very client-centric and advisor focused. Through this partnership, we will be able to supply the Sanctuary advisors with additional tools, products and our expertise in markets around the world.”

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