A new firm created by ex-Merrill Lynch advisors, TOVA Wealth, based in Wilmington, N.C., has joined Sanctuary Wealth’s platform, Sanctuary announced Friday.
TOVA, which has more than $400 million in client assets, is led by founder and managing partner Katie Medina. The team also includes advisors Michael Tunney and Eric Starkey, as well as client associate Amy Kepler.
As an independent firm, TOVA is committed to making personalized financial planning accessible to everyone, Sanctuary said in making the announcement.
“Deciding to move forward with our own firm is a consequential decision and is not something we take lightly,” Medina said in a statement. “Sanctuary speaks our language and comes highly recommended by others who have left Merrill to start their own business within the Sanctuary network. We only want to make this type of transition once, so we had to find the right partner to ensure success."
“After spending their entire careers at a wirehouse, Katie and her team wanted the autonomy to run their business and serve clients as they felt best,” Vince Fertitta, president of wealth management at Sanctuary Wealth, said in a statement. “They chose Sanctuary Wealth’s hybrid, multi-custodial and shared ADV model, where they are not only empowered to enhance the value of service they deliver to clients but also are joining a culture of like-minded former wirehouse advisors who have also decided to unlock the asset they have worked so hard to build.”
Before starting her career at Merrill Lynch in 2008, Medina was a Peace Corps volunteer. Since 2019, she has volunteered with the CFP Board and is currently on its Council on Examinations, where she serves as a primary subject matter expert. In this capacity, she helps provide recommendations on the certification exam and process.
“Sanctuary’s experience, tools, resources and support made this complicated decision to start fresh easy,” Medina added. “The network is multi-custodial, which was essential to us, and they have the experience of supporting the transition of practices like ours to independence without missing a beat. Our multi-generational business has a long runway, and we are extremely pleased Sanctuary will be with us for our entire journey."