Vincent Fertitta Joins Sanctuary Wealth As a Principal
Vince Fertitta, former market president for Bank of America Merrill Lynch in San Antonio, has joined Indianapolis-based global firm Sanctuary Wealth as Principal and Head of Wealth Management. A 27-year industry veteran, Fertitta previously held division executive duties for their Texas Mountain South division of Bank of America Merrill Lynch.
He’s currently focused on expanding the firm’s presence in San Antonio, and reports strong interest for supported independence from wirehouse advisors.
Early Life and Education
Vincent Fertitta is an American businessman and sports team owner. In addition to owning the Rockets and Toyota Center in Houston, he also owns an NHL franchise and has begun preliminary discussions with them regarding ownership options.
He previously held positions as market president and wealth manager with Bank of America and Sanctuary Wealth respectively, where his expertise included helping financial advisors expand their businesses while exceeding client expectations. In 2014 he founded Sanctuary Wealth with the mission of supporting financial advisors grow their practices while exceeding client expectations.
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Fertitta earned a solid reputation during his 27-year wealth management career. Beginning at Shearson Lehman Brothers in 1992 and later moving onto Merrill Lynch where he served as market president of Bank of America’s San Antonio market for three years before leaving.
He recently joined Indianapolis-based Sanctuary Wealth as principal and new president of wealth management, where his Texas hub will establish itself. Sanctuary reported seeing significant levels of interest from former Merrill advisors who broke away.
Fertitta owns both the Houston Rockets and Toyota Center. He also runs Landry’s, an entertainment and restaurant company that includes Bubba Gump Shrimp Co. and Saltgrass Steak House. In recent weeks he has expressed interest in bringing an NHL franchise to Houston; these plans remain preliminary at this time.
Achievement and Honors
Fertitta owns and manages through Landry’s, an impressive collection of restaurants across the United States and abroad. He is one of the world’s foremost business executives, regularly featured on national business and sports talk shows as a prominent business executive.
He has been honored by numerous organizations for his contributions to the industry and is also involved in charity work. In 2016, he made an unprecedented donation of $20 million to University of Houston so they could build an arena bearing his name. Additionally, he serves on the executive committee for Houston Livestock Show and Rodeo.
Sanctuary Wealth’s President of Wealth Management currently resides in San Antonio, Texas Metropolitan area and has been with them for six months now.
Fertitta has also proven himself an attentive husband and father, providing for four children: Emma Koteras, Ethan Estep and Dawn Fertitta as well as two honorary grandchildren: Brandon Shifflet and Blake Shifflet from Shifflet Entertainment Group; two sisters Josephine Ann Fertitta Costa and Jennie Marie Fertitta Beebe plus many family members.
In 2018, he expressed interest in purchasing an NHL team, potentially playing at Toyota Center. To date, no confirmation has been given.
Fertitta became President of Sanctuary Wealth, the financial advisory firm he established in 2019, in March 2019. A 27-year veteran of wealth management industry, Fertitta previously led over 2,200 Financial Advisors at Merrill Lynch before leaving to form his own firm as part of a “breakaway movement”.
Fertitta was estimated to own roughly $2.2 billion worth of assets as of 2019 according to reports. His primary investments include the Houston Rockets, Landry’s restaurant empire (including Bubba Gump Shrimp Co and Claim Jumper ) as well as five Golden Nugget casinos.
Fertitta brings over 27 years of wealth management experience to his current post at Merrill Lynch, having begun at Shearson Lehman before taking on responsibility as division executive for Texas Mountain South region (2,000 advisers across 10 states).
In 2016, he sold his stake in UFC to an investment group for $4 billion. Additionally, he is the owner of Toyota Center in San Antonio and has expressed an interest in adding a professional hockey team. According to reports, preliminary talks with NHL have taken place.