Snowden Lane Partners Launches Practice Continuation Plan, a New Retirement Program for Advisors

By: Snowden Lane Partners via Business Wire

December 11, 2024 at 10:15 AM EST

Unique Program Enables Practice Monetization and Revenue Sharing for Retiring and Inheriting Advisors

Snowden Lane Partners, an independent, advisor-owned, wealth advisory firm dedicated to providing client-focused advice in a values-driven culture, today announced the launch of its Practice Continuation Plan, a retirement and monetization program now being offered to Snowden Lane’s advisors.

The new and dynamic program, available to eligible senior advisors, provides retiring advisors the opportunity to accept an up-front, lump sum payment upon entering the five-year program, accompanied by a revenue-sharing model for retiring and inheriting advisors. As a result of the new program, retiring advisors can achieve overall value of up to 250% of their trailing 12-month revenue.

The Practice Continuation Plan helps advisors organize an orderly succession plan, providing up-front liquidity and a five-year revenue stream for those nearing retirement, along with an acceleration of profit-sharing that is key to Snowden Lane’s advisor compensation model. Succeeding advisors will receive a revenue share that will revert to 100% by the conclusion of the program.

Also included in the plan is a benefit in the event of the death of the retiring advisor, providing added security to retiring advisors and their families.

“We’re excited to officially unveil this program, as meeting our advisors’ unique needs will always be a priority for our firm, and we believe this will serve as another attractive differentiator for prospective advisors considering a boutique firm such as Snowden Lane,” said Rob Mooney, Managing Partner and CEO of Snowden Lane. “We introduced this program earlier this year, after discussions with a number of our advisors who are looking to complete their careers at Snowden Lane but would also like to achieve monetization of their practice and ensure business continuity for their clients. The response has been enthusiastic as the structure achieves those goals.

“Ultimately, this is a win-win scenario, as we’re also able to help pair retiring advisors with successors to the benefit of both groups. We’re excited by the potential this program has to build upon Snowden Lane’s success, both from a firmwide and advisor-centric perspective.”

This announcement follows significant personnel appointments at Snowden Lane, as the firm announced last week that Senior Partner and Managing Director Alex Bryer has joined its leadership team in a national business development role. Additionally, in mid-November, the firm appointed Senior Partner and Managing Director Armando Ureña to its Operating Committee, a role that will feature Ureña as an advisor representative to enhance firm leadership moving forward.

Each of these announcements cap a successful recruiting year for Snowden Lane, as the firm has added 13 financial advisors since September 2023, representing $1.8 billion in new client assets. The firm has also recorded 20% year-on-year revenue growth and added offices in Boca Raton, FL, Golden, CO, and Philadelphia, PA.

Since its founding in 2011, Snowden Lane has built a national brand, attracting top industry talent from Morgan Stanley, Merrill Lynch, UBS, JP Morgan, Raymond James, Wells Fargo, and Fieldpoint Private, among others.

Snowden Lane employs 147 total professionals, 82 of whom are financial advisors, across 16 offices around the country: Pasadena and San Diego, CA; New Haven, CT; Boca Raton, Fort Lauderdale and Coral Gables, FL; Chicago, IL; Pittsburgh and Philadelphia, PA; Baltimore, Ocean City and Bethesda, MD; San Antonio, TX; Buffalo, NY; Lebanon, NH; Golden, CO, as well as its New York City headquarters.

The firm has been included in Barron’s Top 100 RIA Firms ranking since 2020, in addition to the 2024, 2023, and 2022 Forbes/SHOOK Top RIA Firms ranking. USA TODAY named Snowden Lane to its 2024 and 2023 list of America's Best Financial Advisory Firms and the Financial Times named Snowden Lane to its elite FT 300 list for six straight years, recognizing Snowden Lane as one of the top independent RIA firms in the U.S. Many of the firm’s advisors have been recognized as Financial Times 401 Top Retirement advisors, and a number by Forbes/SHOOK as Forbes Best-In-State Wealth advisors.

About Snowden Lane Partners

Snowden Lane is a nationally branded, open-architecture, hybrid registered investment advisor and broker-dealer that provides wealth advisory services to high-net-worth individuals, families, and institutional clients.

The firm is led by an experienced team of industry executives, including Lyle LaMothe, Chairman of the Board of Managers, Rob Mooney, Managing Partner & CEO, and Greg Franks, Managing Partner, President & COO, who are dedicated to building a client-focused, nationally branded, boutique wealth advisory partnership.

Snowden Lane is headquartered in New York City and operates an SEC-registered investment adviser and a FINRA-licensed broker-dealer. Snowden Lane provides a multi-custodian, multi-currency platform, with aggregated performance reporting and leading analytical tools for clients and advisors. Snowden Lane further provides full operational, finance, compliance, human resources, and financial advisor transition support to its financial advisors.

For more information about Snowden Lane, please visit www.snowdenlane.com. If you are a financial advisor interested in career opportunities with Snowden Lane, please visit the page here.