Snowden Lane advisors, employees now own more of their firm

Snowden Lane advisors, employees now own more of their firm
The move follows a strong financial year for the New York based RIA.
JAN 13, 2025

Snowden Lane has announced the redemption of a “significant portion” of the ownership stake held by its private equity sponsor Estancia Capital Partners.

The move means that the firm’s other shareholders including advisors and employees now own around two thirds of the equity, which aligns with the firm’s intention to bolster its team’s ownership stake.

The New York based RIA had a strong year in 2024 with revenue up 30% year-over-year and over $80 million on total revenue. It also saw client assets climb to $11.7 billion and added new offices in Boca Raton, Florida, Golden, Colorado, and Philadelphia, Pennsylvania. It now has 82 advisors across 16 offices in 10 states.

“We’re thrilled to open 2025 with this announcement, as this transaction demonstrates our sustained commitment to operating as an independent and employee-centric enterprise,” said Rob Mooney, Managing Partner and CEO of Snowden Lane. “While we have always maintained and prioritized an advisor-centric culture, this is another step forward in reaffirming those values. Ultimately, our record profitability and growth would not be possible without our advisor teams.”

As part of the transaction with Estancia, Snowden Lane has also provided partial liquidity to vested advisor owners, who were able to realize up to 40% of their equity holdings at an attractive valuation.

“We’re very pleased to have provided partial liquidity to vested advisors at an attractive valuation,” added Lyle LaMothe, Executive Chairman of Snowden Lane Partners. “Doing so not only demonstrates the success of our business model, but further validates the long-term value of Snowden Lane equity and reinforces our strategic vision for the firm.”

That vision is likely to include acquisitions with the firm having also extended its senior loan program, which gives it substantial cash reserves and the ability to fund expansion.

 

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.