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Robert Gilliland, a longtime Merrill Lynch advisor, has moved his $250 million team to Sanctuary Wealth’s network and platform.

The group’s new independent firm, Concenture Wealth Management, is based in Houston and includes Senior Wealth Advisor Karen Heider and Wealth Associate Codi Welch.

“Robert and I have a professional and personal relationship that goes back many years. I’m truly excited to have him join Sanctuary Wealth, especially as we strengthen our presence in our home state of Texas,” said Sanctuary Wealth President Vince Fertitta, in a statement.

Gilliland was with Merrill from 1995 to 2001, left for Citigroup for two years, and then was with Merrill again from 2003 to early 2020, according to FINRA BrokerCheck. Heider worked for Merrill from late 2014 to early 2020.

“Robert and his team represent the caliber of the elite wirehouse advisor we’re attracting to our platform, where our partner firms get all the resources and support they need to succeed, with the freedom and flexibility they long for,” said Fertitta, who was with Merrill from 1996 to 2019.

For the last three years, Gilliland served on Merrill’s Advisory Council to Management.

“I know Vince Fertitta and Jim Dickson from Merrill. They have gained my respect and trust unequivocally, and I saw what they built at Sanctuary Wealth as the best of two worlds,” he explained in a statement. (Dickson was with Merrill from 1997 to 2017.)

“As the owner of my practice, … I have access to an open architecture platform with a range of wealth management services that can help accelerate Concenture’s growth,“ Gililland said. “I am fully confident that my clients and my team will be well taken care of through Sanctuary’s partnered independence approach.”

Sanctuary Wealth network has more than 30 partner firms with about $9 billion in assets under advisement. Sanctuary Wealth Group includes Sanctuary Advisors, an RIA, and the broker-dealer Sanctuary Securities, which is in the process of changing its name from David A. Noyes.

— Check out Merrill Taps New Exec on ThinkAdvisor.