Sanctuary Wealth, a premier hybrid RIA platform focused on giving independent financial advisors greater control, business exposure, and growth, has revealed the addition of Pierstone Wealth Management into its partner network. Based in New York, the firm’s founder, Kyle Young, leads the team. Kyle, at Morgan Stanley, last managed client assets of about $350 million and now joins Sanctuary.
Young holds multiple industry-leading credentials and a deep understanding of wealth management from more than 20 years in the field. By qualifications, he is a Certified Financial Planner professional, a Chartered Retirement Plans Specialist designee, and an Accredited Domestic Partnership Advisor.
Using financial decisions as a reflection of one’s inner values and long-term goals, facilitation is one of the main services offered at Pierstone Wealth Management. Young’s co-leaders at the firm are Steven, Partner & Director of Business Operations, and Randi, Director of Client Relations by titles.
“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.”
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As Managing Partner and Senior Wealth Advisor of Pierstone, Young has built a reputation for helping individuals and families navigate complex financial decisions while advocating for greater financial empowerment. Prior to launching Pierstone, he served as Senior Vice President – Financial Advisor at Morgan Stanley.
Young has devoted a large part of his professional life to helping the LGBTQ+ community by providing specialized financial planning and wealth management solutions. His knowledge and innovative ideas have appeared in major media like 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 Wealth Management follows a structured advisory approach designed to deliver clarity, consistency, and meaningful outcomes for clients. The firm’s service model extends beyond traditional investment management to include retirement planning, estate and trust strategies, tax planning guidance, philanthropic planning, and risk management solutions.
The addition of Pierstone reflects Sanctuary Wealth’s continued momentum in attracting experienced advisory teams seeking greater independence while maintaining access to institutional-level resources and support.
“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.”
With this partnership, Sanctuary Wealth further strengthens its position as a destination for entrepreneurial advisors seeking the flexibility of independence combined with the operational support and resources needed to scale their businesses and enhance client outcomes.
