Snowden Lane Partners Launches Practice Continuation Plan to Support Retiring Advisors and Ensure Business Continuity
Snowden Lane Partners, an independent, advisor-owned wealth management firm known for its client-focused approach and values-driven culture, has announced the launch of its Practice Continuation Plan. This new program is designed to provide retiring advisors with an opportunity to monetize their practice and create a smooth transition for their clients. Available to senior advisors nearing retirement, the program offers retiring advisors a lump-sum, up-front payment and a revenue-sharing model to ensure continued success for both retiring and inheriting advisors.
The Practice Continuation Plan offers a comprehensive solution for those seeking an organized succession plan. Retiring advisors can benefit from immediate liquidity through the lump-sum payment at the start of the five-year program, which is designed to provide them with a steady revenue stream. Over the course of the plan, retiring advisors could see a total value of up to 250% of their trailing 12-month revenue. The revenue-sharing structure also allows for the gradual transfer of business ownership, with the successor advisors ultimately receiving 100% of the revenue by the program’s conclusion.
Additionally, the plan includes a built-in benefit for the surviving family members of retiring advisors in the event of their death. This added security provides peace of mind for both retiring advisors and their families, ensuring a smooth transition and continuity for their clients even in unforeseen circumstances.
“We’re thrilled to launch this program as part of our ongoing commitment to meet the unique needs of our advisors. It provides an ideal solution for those who want to retire while ensuring business continuity for their clients,” said Rob Mooney, Managing Partner and CEO of Snowden Lane. “This program was developed after extensive discussions with many of our advisors who wanted a way to monetize their practices while continuing to provide service to their clients at Snowden Lane. The response has been overwhelmingly positive as it successfully meets both goals.”
He added, “This is a win-win situation. Retiring advisors can monetize their practices while ensuring a seamless transition to successors, who benefit from acquiring a well-established client base. This program is another example of how we continue to innovate and build upon our firm’s success.”
This announcement follows a series of recent developments at Snowden Lane, including the appointment of Senior Partner and Managing Director Alex Bryer to a national business development role. Additionally, Senior Partner and Managing Director Armando Ureña has been named to the firm’s Operating Committee, a position that will enhance firm leadership by representing advisors’ perspectives.
The launch of the Practice Continuation Plan comes at a time of notable growth for Snowden Lane, which has recruited 13 new financial advisors since September 2023, bringing in $1.8 billion in client assets. The firm also recorded a 20% year-on-year revenue increase and expanded its presence with new offices in Boca Raton, FL, Golden, CO, and Philadelphia, PA.
Founded in 2011, Snowden Lane has established itself as a national brand, attracting top-tier talent from firms such as Morgan Stanley, Merrill Lynch, UBS, JP Morgan, Raymond James, Wells Fargo, and Fieldpoint Private. The firm employs 147 professionals, including 82 financial advisors, across 16 offices nationwide.
Snowden Lane has garnered numerous accolades, including being named to Barron’s Top 100 RIA Firms ranking since 2020, as well as earning spots in the 2024, 2023, and 2022 Forbes/SHOOK Top RIA Firms rankings. The firm was also listed on USA TODAY’s 2024 and 2023 lists of America’s Best Financial Advisory Firms, and the Financial Times included Snowden Lane in its FT 300 list for six consecutive years, cementing its position as one of the top independent RIA firms in the U.S. Many of the firm’s advisors have also received prestigious recognition, including being named to the Financial Times 401 Top Retirement Advisors and Forbes Best-In-State Wealth Advisors.
