Snowden Lane has lured a $1 billion Florida-based advisory team away from Morgan Stanley.
Jaime Sanchez Yarza runs the three-person Yarza Group. He will join Snowden Lane Partners as a senior partner and managing director, and the team will work out of Snowden Lane's Coral Gables offices.
He will be joined by portfolio director and senior client relationship manager Jose Andres Ramirez and Paula Andrea Gonzales, a group director and senior client relationship manager.
“As we evaluated our options, we felt that Snowden Lane offered us the perfect blend of a boutique culture and sophisticated solutions that would allow us to continue to provide the individualized, bespoke offerings that our large customer base has come to expect,” said Yarza. .
Yarza's career in the industry began in 1999 when he joined Goldman Sachs. He eventually became vice president before leaving after nine years to join Morgan Stanley, where he stayed for 17 years (his most recent role was managing director).
According to SEC filings, Ramirez joined TD Ameritrade in 2019 before moving to Morgan Stanley the following year, while Gonzales has been with Morgan Stanley since 2018. The group will focus on international and domestic clients, including individuals with extremely high net worth. families and foundations.
The addition of Yarza Group will bring Snowden Lane's total assets under management to $13 billion, following a dozen advisers that joined last year that added more than $2 billion in assets.
Snowden Lane was founded in 2011 and employs 152 people (including 87 consultants) in 16 offices nationwide. It has three offices in Florida alone: Boca Raton, Fort Lauderdale and Coral Gables. Rob Mooney serves as CEO, and the firm is headquartered in New York City.
The firm is dually registered and often supports advisers to banks and breakaway banks (such as the Yarza Group). In February, she attracted Ornella and Brian Solomon, a mother-son team with $208 million in assets under management, from Laidlaw & Company to join as managing directors of the New York location. Last summer, Douglas Gill became the first councillor to join the RIA network for W-2 advisors.