Allen C. Garner, Jr., a former financial adviser at UBS in Lexington, Kentucky, has joined Sanctuary Wealth (Sanctuary) and established Arras Wealth Management (Arras) with Sanctuary partner business, Mercer Wealth Management.
Garner is a seasoned professional who began his career in financial services in 1974 and is currently commemorating his 50 years in the sector.
Having worked for Wall Street firms his entire career, he decided to use Sanctuary’s Partnered Independence model in order to establish stronger ties with his Main Street clientele.
Garner, who founded Arras, will take on the role of managing partner and maintain a portion of ownership with Mercer Wealth Management.
“I came to the conclusion that to really care for my clients in today’s changing environment, I could no longer do it working for a bank,” Garner stated. “Together with Mercer and Sanctuary, we will build something that’s tailored to the clients that I serve. I chose Sanctuary for a multitude of reasons, but a big part of it had to do with the solutions and backing they provide to enable our team to support our clients how we see fit.”
The introduction of Arras by Mercer Wealth Management marks a critical turning point in the growth strategy that the company has developed since departing Merrill Lynch in 2021 to start their own business.
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While it collaborates with Garner on Arras Wealth Management’s own expansion plan, the Louisville-based Mercer team will still work with Sanctuary.
Vince Fertitta, president of Sanctuary Wealth, said: “One of our strongest commitments to partner firms is that we will help them grow faster with Sanctuary than they might anywhere else – that includes inorganic growth through tuck-in’s, acquisitions, and joint ventures.”
Todd Mercer added: “We are thrilled to launch Arras Wealth Management with Allen, who has a long and distinguished track record of helping clients achieve their financial goals here in our home state of Kentucky. We are extremely happy with Sanctuary’s support through partnered independence over the past few years and look forward to working closely with them to build Arras Wealth Management into the firm Allen envisions.”