The Membership of Congratulate Daniel Reser and Joel Phillips on Enacting a Succession Plan to Ensure an Enduring Enterprise Logo is always happy to applaud professionals within the ESOP services industry that implement best practices that put their clients first.

Recently, Daniel Reser, founder of Fiduciary Services Inc., a registered investment advisory firm, primarily involved with ESOP fiduciary work since 2003, announced the result of a long-term succession plan that benefits his clients and their plan participants.

Mr. Reser now has a trusted relationship with the team of Sanctuary Wealth Management LLC combining the resources of Sanctuary Wealth with Fiduciary Services Inc.  As a part of that effort, a new entity, Fiduciary Services LLC, was created, and Joel Phillips, Partner and VP of Operations at Sanctuary Wealth Management LLC, came alongside Mr. Reser to get to know the Fiduciary Services Inc. clients and work with Mr. Reser to serve them.

Mr. Phillips has an MBA in Finance, an advanced tax certification, and has run Sanctuary's qualified plan group for the last 10 years. He is very experienced in ERISA, DOL, and IRS treatment of qualified plan types.

When asked why he chose to build this relationship with the Sanctuary Wealth Management LLC team, Mr. Reser spoke about the advantages of qualification as a registered investment advisor, leveraging his 40 years of corporate fiduciary experience, building a sustainability model with additional strong team members, bench strength in operations/administration and other enhanced resources that the two organizations together in Fiduciary Services LLC could leverage into the future for the benefit of their clients.

Although this transition is part of a long-term succession plan for Mr. Reser, he assures his clients that he isn't going anywhere anytime soon. In a letter to clients, he states, "I will stay on with Fiduciary Services LLC as a Senior Consultant and will still be involved in the ESOP fiduciary issues. This merger adds to the depth of our team, not subtracts. …Nothing else will change regarding your accounts. This simply changes the named trustee and independent fiduciary relationship."

Jack Veale, founder of, was encouraged by the foresight shown by Mr. Reser and Mr. Phillips as well as the boards of both Fiduciary Services Inc. and Sanctuary Wealth Management LLC. Veale said, "It's always good to see organizations put their clients first and enact a succession plan that preserves the integrity of the relationships with and ongoing care of the clients. Succession plans that are strategically planned and implemented incrementally always have the best chance at success. I congratulate Dan and Joel for their vision and action in this effort."


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