Financial Advisor Magazine – Snowden Opens First Florida Office, Staffed With $344M Merrill Lynch Teams
Snowden Lane Partners, a hybrid RIA headquartered in New York City, has hired two teams of former Merrill Lynch advisors with a combined total of $344 million in client assets under management (AUM) to staff its first Florida office in Coral Gables.
Owen Parr and Francisco Murillo will operate as partners and managing directors of the Parr Murillo Group. Parr and Murillo managed $187 million in AUM while with Merrill Lynch, which they now bring to Snowden. Alberto Bravo, the team’s long-serving analyst and client associate, will also join Parr and Murillo at Snowden.
Arnaldo Rego and George Arias will operate as partners and managing directors of the Rego Arias Group. Rego and Arias managed $157 million in AUM while with Merrill Lynch, which they now bring to Snowden.
Both the Parr Murillo Group and the Rego Arias Group will specialize in providing financial and estate planning services to high-net-worth families and institutions in the U.S. and worldwide.
According to Parr and executives of Snowden, who were quoted in a news release, both employer and employees knew each was a perfect match for the other.
Greg Franks, managing partner, president and chief operating officer of Snowden Lane, and Rob Mooney, Snowden’s managing partner and CEO, said that the two former Merrill Lynch teams were key to building the firm’s international business. Parr indicated in his quote that he welcomed the opportunity.
“We knew we wanted to be a part of the exciting work they’re doing in the independent advisory space,” Parr said.
Founded in New York in 2011, Snowden Lane Partners has offices in Pasadena and San Diego, Calif.; New Haven, Conn.; Coral Gables, Fla.; Pittsburgh, Pa.; Baltimore, Salisbury and Bethesda, Md.; and San Antonio, Texas.
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