Snowden Lane looks to bring on more advisors fleeing firms that put restrictions on international clients.
Snowden Lane added the Ureña Wealth Management Group to its roster of advisors, pulling the advisors from Wells Fargo, the firm announced Monday. The move comes in the wake of Wells’ announcement that it would jettison its international wealth management business.
Snowden’s latest recruit, Miami-based Ureña Wealth Management, run by Armando Ureña, managed $360 million in client assets at Wells Fargo. Half of it was focused on offshore accounts and international clients, mainly in Latin America.
When Wells Fargo announced in January that it would no longer provide services to clients abroad, Wells’ advisors had to decide whether to part ways with those clients or find a new home. Ureña said he had already been in contact with the leaders of Snowden Lane and was prepared to make the jump.
Wells Retreat From Non-US Biz Prompts Miami Advisor to Snowden Lane wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.