Sanctuary Wealth Continues Expansion with Launch of Pierstone Wealth Management

Former wirehouse advisor managing $350 million to leverage Sanctuary's partnered independence model to expand business

MIAMI, June 18, 2026 /PRNewswire/ -- Sanctuary Wealth (Sanctuary), an industry-leading hybrid RIA that helps elite financial advisors thrive with greater freedom, flexibility, control and choice, welcomes Pierstone Wealth Management (Pierstone) and its founder, Kyle Young. He and his team come to Sanctuary after overseeing $350 million in client assets at Morgan Stanley. Young is a Certified Financial Planner^® professional, Chartered Retirement Plans Specialist^® designee and Accredited Domestic Partnership Advisor^®.

Based in New York City, the Pierstone team looks to transform financial management into a catalyst for personal fulfillment and social change, helping ensure that clients' wealth becomes a powerful expression of their values and aspirations. The team also includes Steven Salton, Partner and Director of Business Operations, and Randi Speedling, Director of Client Relations.

"After 20 years working in the wirehouses and building a successful practice, Kyle decided it was the right time to take his future into his own hands," said Vince Fertitta, President, Wealth Management, Sanctuary Wealth. "After conducting his due diligence and consulting with a long-time industry mentor, Kyle determined that the partnered independence of Sanctuary was the best fit for his firm, team and clients. In Sanctuary, he found a partner that understands the world he is coming from, stands ready to support the sophisticated needs of his clients and champion his growth."

Young, who serves as Managing Partner and Senior Wealth Advisor at Pierstone, has spent more than 20 years as a wealth advisor and passionate advocate for financial empowerment. He was most recently a Senior Vice President – Financial Advisor at Morgan Stanley.

Over the years, his focus on serving the LGBTQ+ community has helped him build a successful practice and positioned him as a leading voice on financial issues affecting LGBTQ+ individuals and families. His insights have been featured in Forbes, CNBC, The Wall Street Journal and The New York Times.

"I wasn't looking for just another stop after leaving my prior firm. I was looking for a long-term home, and Sanctuary really stood out from the crowd," said Young. "Sanctuary understands that for my team and me, our practice is a calling. They are committed to helping us succeed on our own terms, offering us every resource we need to reach our goals. After an entire career working for large institutions, I wanted a more boutique feel, backed by scale, with a culture that promotes freedom, flexibility and entrepreneurship."

Pierstone adheres to a disciplined process designed for clarity, consistency and results. The firm's commitment to clients is grounded in knowledge, integrity and bespoke service that goes beyond investments to include philanthropic strategies, estate and trust planning, risk and insurance solutions, tax planning and strategies, investment management, and financial and retirement planning.

"Pierstone Wealth Management is the latest in a growing list of elite teams that are attracted to our strong platform and full-service approach to wealth management," said Adam Malamed, CEO of Sanctuary Wealth. "Kyle and his team have a strong sense of purpose, a deep commitment to the clients they serve and a clear vision for the future of their business. Just as importantly, they recognize the value of partnering with people who can help bring that vision to life. We are excited to welcome Pierstone Wealth Management as our latest Partner Firm and look forward to working together for years to come."

About Sanctuary Wealth
Sanctuary is a leading hybrid RIA that provides comprehensive wealth management solutions, platform partnerships and strategic capital investments to sophisticated independent wealth management firms.

Through its Partnered Independence model, Sanctuary helps advisors seeking greater freedom, flexibility, control and choice transition from large financial institutions and build enduring businesses of their own.

Sanctuary Wealth was built to serve elite wirehouse breakaway advisors. Today, Sanctuary supports a growing community of partner firms and business models with integrated technology, marketing, operations and a robust, open-architecture platform, enabling advisors to serve clients at the highest level while building long-term enterprise value.

Media Contact for Sanctuary Wealth:
Donald Cutler
Haven Tower Group
1 424-317-4864
[email protected]

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SOURCE Sanctuary Wealth