Matt Terwilliger, 37, founder of Iterhic Wealth Advisors, has joined Sanctuary Wealth, an Indianapolis-based advisor firm.

Iterhic brings $170 million in assets under advisement to Sanctuary. Terwilliger was previously with Morgan Stanley’s The Edwards Group of Columbus, Ohio. Iterhic Wealth Advisors is the third wirehouse breakaway firm from Ohio to join Sanctuary this year.

Iterhic provides wealth management services to individuals and families, focusing on planning strategies for first first-generation business owners, executives with significant equity and deferred compensation, as well as professional athletes, Sanctuary said.

Terwilliger represents the next generation of advisors that Sanctuary likes to partner with, Vince Fertitta, president of wealth management at Sanctuary Wealth, said in a statement. "Having built an impressive business at a major wirehouse, he is ready to make the move to partnered independence with Sanctuary,” he said.

The firm's name, Iterhic, has its roots in Latin and translates to "journey to here." The brand reflects the firm's identification of a significant and underserved client segment—professionally successful clients who have pressing priorities beyond retirement planning, Sanctuary said. With the majority of clients between their mid-30s and mid-50s, Iterhic works on financial planning for clients going through the stages of life that include college savings, caring for elder parents and other issues vital to the life journey of younger families.

"Sanctuary understands what the next generation of advisors are looking for to serve their clients and have built their platform around those needs," Terwilliger said in a statement.

Terwilliger began his financial services career as a financial advisor with Merrill Lynch in 2011, and then joined The Edwards Group at Morgan Stanley in July 2014.

"Like many of the breakaway advisors we attract, Matt has a unique and sophisticated business," Adam Malamed, CEO of Sanctuary Wealth, said in a statement. "He is looking to grow his practice by bringing on both younger advisors eager to build their careers in an independent model and older advisors looking for a succession plan that lets them transition out of the business on their own terms.”

The Sanctuary Wealth network includes partner firms in 28 states across the country with approximately $25 billion in assets under advisement.