Marriott Wealth Advisors of Hot Springs Village has been acquired by Sanctuary Wealth of Indianapolis.
The Arkansas firm, founded in 2010 by Joseph Marriott, specializes in retirement planning. It brings about $140 million in assets to Sanctuary, the company said in a news release.
Marriott will operate as Marriott Wealth Advisors Inc., a division of mFORCE Capital. The latter is part of Sanctuary’s partner firm network, which spans 20 states and totals more than $22 billion in assets under advisement.
Financial terms of the acquisition were not disclosed.
The deal is part of a Sanctuary program that allows it to make acquisitions on behalf of its partner firms by supplying capital while taking only a minority stake in the acquired company.
Brad Bruce, an Arkansas native who’s the founder and CEO of mForce Capital, said he’s wanted to have a presence in his home state for some time. He said he and Marriott share a “client first” and “always do the right thing” attitude.
“It just seemed like a natural fit,” Bruce said in a news release.
Marriott said he was looking to align his three-person firm with a larger independent who could provide long-term stability to his clients. He was also looking for a way to help Marriott Wealth Advisors continue to grow.
“I found that Brad and I spoke the same language, approached investing client money in the same way, and always put our clients first,” he said. “It just all came together seamlessly.”
Sign up for Daily E-news
