Hybrid firm acquires $280 million RIA

Sanctuary Wealth, an Indianapolis, Ind.-based hybrid that manages $9 billion, has acquired NorthView Asset Management, an RIA firm in Austin, Texas, managing $280 million. [Recommended video:​ Protecting against the insider cybersecurity threat] The acquisition is the first for Sanctuary, which specializes in attracting breakaway brokers by offering partnership arrangements. [More: After losing billions in assets, giant hybrid RIA set to open broker-dealer] Founded in 1998, NorthView Asset Management serves individuals and institutions. Its executive team is led by Richard Williams and includes Lynn Skarren, Steven Sutton and Michael Janak, who became Sanctuary partners. Investing in profitability, performance and people: Register for our Top Advisory Firm Summit.