Diagonal Investment Office, a Sanctuary Wealth Partner, Launches to Expand Global Capabilities and Serve Latin American Clients at Home and Abroad

Miami-based team led by veteran international advisors Rodolfo Rake and Santiago Rey

MIAMI, Dec. 6, 2022 /PRNewswire/ — Sanctuary Wealth, home to the next generation of elite advisors, announces the launch of Diagonal Investment Office, a firm created to serve the needs of ultra-high-net-worth Latin American clients who invest in the US. The new firm has $200 million AUM at launch, is based in Miami, and led by Founders and Managing Partners Rodolfo “Rudy” Rake and Santiago Rey.

“Today, substantial wealth transcends national borders, which was the rationale behind establishing Sanctuary Global. Ultra-high-net-worth clients with global assets need advisors who understand their unique circumstances,” said Jim Dickson, CEO and Founder of Sanctuary Wealth. “Santiago’s experience in asset allocation and portfolio construction coupled with Rudy’s institutional capabilities, execution skills, and network bring the best of both worlds to their clients.”

“At Diagonal, we are creating a boutique family office model partnered with Sanctuary Global, which allows us to have an open architecture and be independent but with the backing of a $25 billion firm,” explained Rudy Rake, Managing Partner at Diagonal Investment Office. “We are regulated by both FINRA and the SEC. Being a part of Sanctuary allows us to have our own broker dealer without the need to always execute transactions through a third party. With Diagonal, we are taking a US fee-based model of fiduciary wealth management that leads with financial planning and adapting it to our Latin American clients. For these and more reasons we differ from a typical family office.”

Rodolfo “Rudy” Rake started his financial services career in 2005 with Smith Barney in New York working with institutional and private clients, quickly rising through the ranks and becoming, at age 32, one of the youngest Managing Directors in the firm’s history. At Morgan Stanley Smith Barney, he worked with pension funds, insurance companies, mutual funds, banks, family offices, high-net-worth, and ultra-high-net-worth individuals and families in Latin America and the US. In 2013, he moved his practice to Miami to better serve his international clientele.

“Diagonal is different from many of the teams joining Sanctuary Wealth because rather than breaking away from a wirehouse, we are building a new business from scratch,” said Santiago Rey, Managing Partner at Diagonal Investment Office. “Both Rudy and I have extensive experience helping Latin American clients navigate the intricacies of investing in the US.”

Santiago Rey spent four years with Banco de Credito BCP in Lima, Peru as a portfolio manager before joining JP Morgan in New York in 2007, where as an Executive Director he headed the New York and Geneva investment desks. While in New York he earned an MBA from Columbia University’s Columbia Business School. Prior to the launch of Diagonal, he was a partner in GAMNIC Family Office and founder of Accorde Invesiones Familiares (Accord Family Investments) in Lima, Peru.

Also key to the Diagonal operation is Senior Portfolio Associate Gisselle Balza. She brings more than 18 years of experience to the position including almost seven years as Private Wealth Management Associate with Morgan Stanley in Miami.

“The products and services that Diagonal can offer are quite different from what the Latin American audience is used to. That market is heavily transactional, and Rudy and Santiago are introducing them to a better and more efficient fee-based model,” said Robert Walter, President, Sanctuary Wealth. “They are taking the model that has worked so well for our world class domestic advisors and applying it to non-residents. It’s custodial agnostic, meaning that Diagonal can advise these clients on the entirety of their assets, regardless of where they are custodied.”

To learn more about Diagonal Investment Office, please visit: www.diagonalinvestments.com.

About Sanctuary Wealth

Sanctuary Wealth (sanctuarywealth.com/) is the advanced platform for the next generation of elite advisors, who have the entrepreneurial spirit to build and own their own practices and desire the freedom to deliver the tailored service their clients deserve. Sanctuary Wealth’s ecosystem of partnered independence provides a complete technology and operations platform, as well as support from a community of like-minded advisors and the resources of invaluable affiliated businesses. Currently, the Sanctuary Wealth network includes partner firms in 28 states across the country with approximately $25 billion in assets under advisement. Sanctuary Wealth includes the fully owned subsidiaries; Sanctuary Advisors LLC, an SEC-registered investment adviser, Sanctuary Securities, Inc. a FINRA member broker-dealer as well as Sanctuary Alternative Holdings, Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Family Office.

SOURCE Sanctuary Wealth