Snowden Lane Partners, a New York-headquartered registered investment advisor with just under $12 billion in assets, has acquired a “significant portion” of the ownership stake in the firm held by private equity firm Estancia Capital Partners. Estancia has owned a majority stake in the RIA since 2013, and still maintains a one-third ownership stake.
As a result of the deal, two-thirds of the firm is now owned by remaining shareholders, including advisors and employees. That also includes friends and family who were early investors. Vested advisor owners were able to realize up to 40% of their equity holdings, Snowden Lane said.
The firm also said it expanded its existing senior loan facility in 2024 to fund recruiting and potential acquisitions.
“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,” Rob Mooney, managing partner and CEO of Snowden Lane, said in a statement. “Ultimately, our record profitability and growth would not be possible without our advisor teams.”
According to the firm, the RIA’s 2024 revenue was $80 million, up 30% year over year, a record. During the year, the firm added offices in Boca Raton, Fla., Golden, Colo., and Philadelphia. It now has 82 advisors across 16 offices in 10 states.
Last month, the firm launched a five-year program that will allow retiring advisors to monetize their business and establish a succession and continuity plan. Retiring advisors who elect to enter the Practice Continuation Plan will receive an up-front, lump sum payment for their books of business at a “healthy multiple,” Mooney said.
Founded in 2011, Snowden Lane has grown almost exclusively through the recruitment of bank and wirehouse advisors. Its mission is to create a private partnership of employee-owners that embodies the best of both the independent and institutional spaces. All recruits are brought in as W-2 employees, and principals are offered equity in the transaction.
Citywire was the first to report on the news.