A New Jersey team that managed $200 million in client assets at Merrill Lynch has joined Sanctuary Wealth, an Indianapolis-based aggregator with $25 billion in assets, the firm announced Thursday.
Jersey City-based Crescent Harbor Private Wealth was founded by CEO John Araneo and includes managing partner Jason Greenfield.
Araneo, who has 24 years of experience, had been affiliated with Merrill since 2017, after spending seven years at Morgan Stanley, according to his BrokerCheck report.
"Going independent allows us to get back to why we became wealth managers in the first place — to put our clients' needs first," Araneo said in a statement. "Now we can build a culture that can be as resourceful, compassionate, ambitious and energetic as we want."
Sanctuary said in the statement that Crescent Harbor was the 32nd Merrill team to join the firm.
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