Sanctuary Wealth Welcomes $580 Million Indianapolis-Based Private Wealth Advisor from Bank of Montreal (BMO) Wealth Management

Bernard Reed Leaves Bank Channel for Independence, Launches Velorum Wealth Management

MIAMI, July 9, 2025 /PRNewswire/ -- Sanctuary Wealth (Sanctuary), providing elite financial advisors the freedom, flexibility, control and choice to thrive in an evolving industry, welcomes Velorum Wealth Management (Velorum), an Indianapolis, Indiana practice with $580 million in client assets. Founder and Managing Partner Bernard Reed leads the firm. Formerly with Bank of Montreal (BMO) Private Wealth, Reed decided to start his own firm by moving his practice to Sanctuary's Partnered Independence model and forming Velorum Wealth Management to expand his offerings and services to high-net-worth clients.

"After spending most of his career building and servicing his client base in the bank channel, Bernard knew he needed to become independent to meet his clients' needs and to take his business to the next level," said Vince Fertitta, President, Wealth Management, Sanctuary Wealth. "Conducting due diligence with several firms before selecting Sanctuary, Bernard appreciated that we would provide him the platform, the people and the partnership he needed to launch confidently, along with the independence and control he craves. Bernard is also eager to leverage our relationships with some of the industry's top trust departments, business owner consultants and family office services providers to support the sophisticated needs of his high-net-worth clients. Whatever solution he is looking for, he knows he can count on Sanctuary." 

Velorum works primarily with individual and family business owners who control companies valued between $10 million and $100 million. For entrepreneurs in the process of selling their businesses, Velorum offers full financial planning services, with a focus on tax mitigation and estate considerations, to ensure the creation of lasting legacies and multi-generational wealth. The firm develops deep relationships with its select group of clients and provides them with personalized, flexible and actionable financial strategies tailored to their needs.  

"Coming from an extremely large institution and starting an independent practice can be a major leap of faith," said Reed. "With Sanctuary, however, I've been able to make the transition with confidence. The scope of what I can now do for clients is incredibly powerful – transformative, in fact. I see myself as a problem solver for my clients, but to be effective, I needed to have the right tools. Sanctuary gives me those tools. These resources are immediately catapulting my capabilities past where I was and are setting me up for ongoing success."

Before forming Velorum, Reed was a Private Wealth Advisor and Director at Bank of Montreal (BMO) Wealth Management, where he served as a lead advisor and relationship manager to high-net-worth individuals, families, and organizations, including closely held and family-owned businesses. Prior to his time at BMO, he was Vice President, Private Wealth Advisor at Key Corporate & Commercial Bank and Vice President, Private Wealth Advisor at Regions Bank.

Adam Malamed, CEO of Sanctuary Wealth, said, "I'm thrilled to welcome Bernard and Velorum Wealth Management as our latest Partner Firm. We continue to attract high-quality advisors with impressive practices from across the wealth management space. Coming from the confines of a bank, Bernard gravitated to the freedom, flexibility, control and choice we've built into our platform. He is looking to expand his capabilities by bringing on additional advisors, and we are here to help him achieve that goal. As the industry continues to evolve, the move to independence is starting to reach private bankers. Those with deep client relationships have a tremendous opportunity to expand their offering and take ownership of their life's work. I think we'll see more moves like Bernard's in the months and years to come."

About Sanctuary Wealth

Sanctuary is a leading hybrid RIA, delivering comprehensive wealth management solutions, platform partnerships, and strategic capital investments to sophisticated independent wealth management firms. It is committed to providing partner firms with unequaled freedom, flexibility, control and choice through an ecosystem of partnered independence that offers a complete technology and operations infrastructure, support from a community of like-minded advisors, the resources of invaluable affiliated businesses and a robust solutions platform. Sanctuary Wealth expanded its affiliation options by acquiring tru independence (tru) in 2024, offering partner firms multiple models to best serve their unique needs.

Currently, the Sanctuary Wealth network includes more than 125 partner firms in 32 states nationwide, with over $50 billion in assets on platform. Sanctuary Wealth consists of the wholly owned subsidiaries: Sanctuary Advisors LLC, SEC-registered investment advisers, Sanctuary Securities, Inc., a FINRA member broker-dealer, as well as Sanctuary Alternative Holdings, Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, Sanctuary Global Family Office and tru.

Media Contacts for Sanctuary Wealth: 

Lorene Yue or Donald Cutler
Haven Tower Group
424-317-4854 or 424-317-4864
lyue@haventower.com or dcutler@haventower.com 

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SOURCE Sanctuary Wealth