Hybrid broker/dealer and registered investment advisor Snowden Lane has added its 11th U.S. location, snagging a Chicago-based team from JP Morgan Securities. The Boyd Richard Group, led by Thomas J. Boyd and James S. Richard, are joining the firm.
At JP Morgan, they advised on $180 million in client assets for individuals, corporate executives and business owners.
In 2011, four long-time Merrill Lynch wealth management executives founded Snowden Lane as an advisor-owned hybrid broker/dealer RIA. Many other institutional advisors have since followed them, contributing to the rapid growth of the firm.
Most recently in June, the firm recruited advisors Owen Parr and Francisco Murillo from Merrill Lynch, where they managed $187 million in client assets. They run Snowden’s first Florida office in Coral Gables.