The Longo Group has launched as an independent practice and joined the Sanctuary Wealth network, the companies announced last week in a news release.

The affiliation will allow Sanctuary to expand its network into the New Orleans and Mississippi Gulf Coast region with the addition of The Longo Group, it first Louisiana team. The partnership will also benefit the newly-independent Longo Group, according to Jim Dickson, CEO and founder of Sanctuary Wealth.

"By choosing Sanctuary's partnered independence, The Longo Group will have control of their business and flexibility in how they serve clients, but they won't be alone," Dickson said in the news release. "Our platform can supply the services, solutions and technology they need to give their clients what they deserve. We're delighted to welcome The Longo Group to Sanctuary as we expand our presence along the Gulf Coast and help them realize their full growth potential."

Led by industry veteran Ted Longo, the 8-member Longo Group was formerly with Merrill Lynch, where the practice managed more than $530 million in client assets and produced annual revenues of $4 million.

Longo decided early on that he wanted to work in the financial services industry. While still a student in high school, he started buying stocks for real after a ninth grade math teacher had the class play a stock market game. 

After receiving a degree from Auburn University, he joined Merrill Lynch in 1986 and remained there for the next 34 years, rising to the position of managing director, senior resident director-wealth management advisor. He opened an office in Slidell, Louisiana in 1997 and reportedly built an environment that enabled advisors and their practices to compete with advisors in major markets by focusing on the needs of his clients ahead of his own.

"I grew up in this business being taught that everything starts with the client and that's a philosophy that I've held to throughout my career,” he said in the news release. “My biggest concern about going independent was the transition of client accounts, as we have a large and sophisticated client base. But Lili Kaufmann, Sanctuary's director of transitions, is someone I worked closely with previously, as well as being a close personal friend. I felt my clients couldn't be in better hands."

BNY Mellon/Pershing are custodians of The Longo Group’s client assets during the transition process currently underway.

Launched in 2018, Indianapolis-based Sanctuary Wealth is affiliated with 38 partner firms in 16 states, managing over $10 billion in assets under advisement.