Sanctuary Wealth, the Miami-based hybrid RIA platform known for attracting wirehouse breakaways, is expanding its support infrastructure with three senior hires aimed at addressing the most pressing needs of independent advisors: estate planning, mergers and acquisitions, and marketing. The firm announced on Wednesday that Harry Drozdowski will serve as managing director of advanced estate and wealth planning, Reilly Cornell as vice president of mergers and acquisitions, and Kelly LaPalio as vice president of advisor growth marketing.
CEO Adam Malamed emphasized that the hires are part of a broader strategy to prepare partner firms for future challenges. "We are building for where our partner firms are going, not simply where they are today," he said. The moves come as Sanctuary continues to post record growth, capitalizing on the ongoing migration of advisors from wirehouses to independent channels.
Estate planning expertise
Drozdowski brings nearly two decades of experience in wealth planning and private legal practice, having served ultra-high-net-worth families and family offices. A Harvard Law School graduate, he most recently worked at Wells Fargo as executive director and private wealth strategist, advising the firm's largest relationships on estate, tax, and wealth planning strategies. At Sanctuary, he will collaborate with partner firms on trust, estate, and succession issues, and connect advisors with specialists in tax planning, philanthropic planning, and business-owner solutions.
The addition of estate planning expertise aligns with industry trends. Schwab's 2026 RIA Benchmarking Study found that 73% of firms now offer estate planning services, up from 96% offering financial planning and 88% offering tax planning. As client needs become more complex, particularly among wealthy families, advisors are seeking deeper support in these areas.
M&A and corporate development
Cornell arrives from Bluespring Wealth Partners, Kestra's fee-only RIA channel, where she was a principal on the M&A team. She evaluated more than 100 acquisition opportunities and executed over 15 transactions across the wealth management industry. Earlier in her career, she worked in Citi's investment banking division, advising energy companies on mergers, strategic transactions, and capital raises. At Sanctuary, she will source and execute deals alongside Josef Rogers, who was promoted to director of corporate development earlier this year after joining the firm in 2024.
The M&A focus is timely. Schwab's study revealed that 24% of firms with over $250 million in assets are actively seeking to acquire another RIA, while 44% are looking to bring on an advisor with a book of business. Key motivations for inorganic growth include increased AUM, revenue, and client growth (91%), talent acquisition (65%), and achieving scale (55%).
Marketing and organic growth
LaPalio, who brings more than two decades of experience from FocusPoint Solutions, Avantax, and Hightower, will design organic growth programs across Sanctuary's national network. She will work with advisors on positioning, digital marketing, and lead generation. The importance of marketing is underscored by Schwab's finding that 69% of top-performing firms have a documented marketing plan, which drove 127% more new client assets compared to those without a codified strategy.
Sanctuary's expansion comes as Cerulli Associates projects that wirehouse headcount will decline 5.7% from 2025 through 2028, while independent RIAs are expected to grow 12% and independent broker-dealers 4.7%. Additionally, roughly seven-tenths of advisors said they would move to an independent channel if they were to switch firms.
Malamed noted that the new hires "bring the experience and perspective to help advisors address more complex client needs, pursue new avenues for growth and prepare their businesses for what comes next." The firm's deepening bench is a response to the growing pressure on independent advisory firms to formalize their service offerings and business expansion models, rather than relying solely on market tailwinds.
For advisors considering a move to independence, the availability of robust support in estate planning, M&A, and marketing could be a differentiator. As the industry evolves, platforms like Sanctuary are positioning themselves as comprehensive partners for breakaway advisors seeking to scale and succeed.
