Sanctuary Wealth’s Enterprise Partner program added another large Ohio practice as Bryan Blackburn, a CFP with roughly $190 million in client assets, joined Alluvial Private Wealth and became a co-owner of the firm’s Cleveland business. Blackburn previously worked at Carnegie Investment Counsel and will take the title of vice president and wealth advisor at Alluvial, according to Sanctuary.
Alluvial, founded by Lars Olson, launched with Sanctuary in January 2021 after Olson left Merrill Lynch with a $435 million book of business. With Blackburn’s addition, Alluvial said it now oversees more than $1.2 billion in total client assets across two locations in Ohio, positioning the firm to keep pursuing an acquisition-driven growth strategy.
Olson noted Alluvial’s plan is to add at least one successful practice each year and credited Sanctuary’s Enterprise Partner Program for providing operational and financial support that helped make the transaction possible while allowing him to continue running the business through the transition. Sanctuary said the program is designed to accelerate partner firms’ inorganic growth by helping source expansion opportunities and assisting with execution.
Blackburn said the move was driven by cultural alignment and shared investment and planning philosophy, adding that Alluvial and Sanctuary’s platform resources—ranging from tax services to support for multi-generational wealth transfer—will help him expand services for existing clients and attract new ones. Blackburn has nearly 20 years of industry experience and previously worked with clients at Charles Schwab and Wells Fargo before becoming an independent advisor.
Sanctuary President Vince Fertitta said many partner firms see long-term opportunity in building larger enterprises as industry demographics shift, and added that Sanctuary has made capital available to support that strategy. CEO Adam Malamed said the combination of Sanctuary’s “partnered independence” model and Alluvial’s continued use of the Enterprise Partner framework positions the firm to grow as wealth management evolves.
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“Bringing Bryan on as a co-owner of our Cleveland business is an exciting step in Alluvial’s strategic growth plan, where we look to add at least one successful practice to our team every year. As an independent advisor, Bryan has built an impressive business in Ohio, and we look forward to him using his talents to help us take our Cleveland business to the next level. We are grateful for the guidance and support we received through Sanctuary’s Enterprise Partner Program that made this deal a reality and enabled me to continue running my business while ensuring a smooth transition.”
Lars Olson, Founder, Alluvial Private Wealth
“When Sanctuary introduced me to Lars and his Alluvial team, I knew we were a perfect match both culturally and from an investment management standpoint. We share a holistic financial planning approach and a focus on helping clients approach wealth management decisions with confidence as opposed to leaving them to chance. The resources I now have, from comprehensive tax services to multi-generational wealth transfer, will empower me to enhance my services to existing clients while attracting new ones.”
Bryan Blackburn, Vice President, Wealth Advisor and Co-Owner, Alluvial Private Wealth (Cleveland)
“Many of our partner firms have studied the demographics of the industry and see tremendous opportunity in building an enterprise over the next decade. We launched our Enterprise Partner Program and have made capital available to them to help them achieve this vision. Bryan is an outstanding financial professional who has achieved success at every stage of his early career. We were pleased to introduce him to Lars Olson and facilitate his joining Alluvial.”
Vince Fertitta, President, Sanctuary Wealth
“With Sanctuary’s partnered independence support and Lars’ continued embrace of our Enterprise Partner Program, Alluvial is positioned to thrive as the wealth management industry continues to evolve. Bryan made a great choice for his future and that of his clients by joining the leadership of Alluvial.”
Adam Malamed, CEO, Sanctuary Wealth
