Sanctuary Wealth, an industry-leading hybrid RIA focused on supporting independent financial advisors, announced that it has welcomed Soteris Private Wealth, a new firm founded by Josh Erickson and Rob Montierth. The Walnut Creek, California-based team joins from Merrill Lynch, where it managed approximately $800 million in client assets.
Soteris Private Wealth will operate under Sanctuary’s partnered independence model, which is designed to give advisors greater ownership, flexibility, and control while maintaining access to institutional-quality resources. Erickson and Montierth, both seasoned advisors, will serve as Managing Partners of the new firm and bring more than a decade of experience serving high-net-worth clients, including business owners, executives, and multigenerational families.
The move reflects a broader trend of wirehouse advisors transitioning to independence in pursuit of expanded capabilities and long-term enterprise value. Sanctuary’s platform provides multi-custodial access, integrated technology, and a wide range of planning resources, including tax and estate solutions, enabling advisors to deliver more customized client experiences.
Erickson began his career at Merrill Lynch in 2012 after roles in corporate finance and real estate analysis. He holds a bachelor’s degree in economics and an MBA from Brigham Young University. Montierth joined Merrill Lynch in 2010 following his work administering retirement plans and also graduated from Brigham Young University.
Sanctuary Wealth continues to position itself as a destination for breakaway advisors seeking independence, while expanding its platform to support a broader range of sophisticated wealth management teams.
KEY QUOTES:
“At Sanctuary, our partner firms are our clients, and we serve them with the same passion they bring to theirs. It is especially meaningful when those firms refer friends and colleagues, as was the case with Josh and Rob. They’ve built a tremendous practice over the past 15 years and earned the right to own what they’ve created.”
Vince Fertitta, President, Wealth Management, Sanctuary Wealth
“In recent years, it became clear that being beholden to a single financial institution no longer aligned with our values or allowed us to deliver the full range of services our clients deserve. Once we concluded that independence was the right path for our business and the future of our practice, it quickly became clear that Sanctuary was the right partner to help us make that move.”
Josh Erickson, Managing Partner, Soteris Private Wealth
“Sanctuary understands both where we are coming from and where we want to go. Its multi-custodial platform gives us access to a broader range of financial planning, tax and estate planning resources, along with technology tools that help us operate more efficiently. Just as important, the ownership model gives us the flexibility to build long-term enterprise value while enhancing the level of service and sophistication our clients expect.”
Rob Montierth, Managing Partner, Soteris Private Wealth
“Sanctuary was built to serve elite wirehouse breakaway advisors, and that remains at the core of who we are. At the same time, we are increasingly attracting sophisticated teams from across the wealth management landscape who are seeking greater flexibility, ownership and control. Our platform continues to evolve to support firms like Soteris, giving them the resources and confidence to serve clients at the highest level while building meaningful equity in their own businesses. We are proud to partner with them and committed to earning their business every day.”
Adam Malamed, CEO, Sanctuary Wealt
