The size of the stake purchased, and other financial terms of the deal were not disclosed.
GoalPath specialises in investment management services and financial planning. The firm also provides financial wellness education to participants of workplace retirement plans.
It also works with employer-sponsored retirement plans and offers them guidance, investment analysis, provider analysis, and plan design.
The deal will enable Sanctuary to add retirement plan expertise to its platform.
Sanctuary Wealth CEO and founder Jim Dickson said: “With our investment in GoalPath Solutions, we are adding an outstanding partner to the network. This enables us to provide our partners with best-in-class resources to help them better serve business owner clients and enhance their retirement plan business.”
Besides investment management, planning and education services, GoalPath also works with independent advisors to help them bolster their retirement plan business.
It provides advisers access to back-office systems, processes, sales tools, investment solutions, and a spectrum of other products and services.
GoalPath Solutions co-founder and CIO Vern Cushenbery said: “We look forward to putting our skills in the retirement plan space at the service of our partners in the Sanctuary network to help them develop their retirement businesses, as we do for many advisors with GoalPath Solutions.”
Last month, Sanctuary Wealth introduced a customised alternative investments platform to help its partner firms streamline the management of alternative investments across their full investment life-cycle.