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.
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Cynthia Hewitt recently joined New York City-based Snowden Lane Partners, an independent wealth advisor that manages $6 billion in assets and has been ranked among Barron s top 100 RIA firms.
Hewitt was a managing director of investments at Merrill Lynch, a firm that she spent over four decades at before departing in 2018.
Just 15% of financial advisors are women, according to a McKinsey report, but Hewitt shared a message in an interview with Insider: Women can shine in this business.
After an illustrious career in wealth management, including a four-decade run with Merrill Lynch, a top industry veteran has decided to get back in the game.