New York Metropolis–based mostly hybrid wealth advisory agency Snowden Lane Companions introduced that veteran wealth advisor Tom Hakala has joined as companion and managing director.
With 30 years of wealth administration expertise, Hakala oversees $180 million in property for high-net-worth households and people. He’ll be part of Snowden Lane at its New York Metropolis headquarters.
Previous to Snowden Lane, Hakala served as a managing director at Fieldpoint Personal and Wilmington Belief. He’s an legal professional, CPA and private monetary specialist with experience within the design and implementation of economic methods for HNW clientele. Hakala has additionally held positions with KPMG, UBS and PricewaterhouseCoopers.
“We’re excited to welcome Tom to Snowden Lane, as he’s a confirmed professional within the high-net-worth house and a world-class advisor,” Snowden Lane Chairman Lyle LaMothe mentioned in a press release. “I’m regularly humbled when high-quality advisors categorical curiosity in becoming a member of our group, and I do know Tom will match seamlessly into our agency’s tradition.”
Hakala is not going to be changing anybody and represents an addition to the headquarters workplace, in line with a Snowden Lane spokesperson, who mentioned Hakala initiated conversations with the agency as he evaluated the most effective choices for his subsequent profession transfer.
“He’s a extremely skilled HNW advisor who intends to type a group and can proceed serving his shoppers at Snowden Lane,” mentioned the spokesperson.
“I’ve been very lucky to get pleasure from a 30-year profession in monetary companies, and I’m trying ahead to starting the subsequent part of my skilled journey at Snowden Lane,” Hakala mentioned. “I’ve the utmost confidence that the agency’s values and tradition, coupled with its confirmed platform, will enable me to proceed delivering high outcomes for my shoppers.”
“An advisor of Tom’s caliber is a pure match at our agency and I’m excited to formally welcome him to the group,” mentioned Snowden Lane CEO Rob Mooney. “Now we have great respect for Fieldpoint Personal, and I used to be thrilled when Tom expressed curiosity in becoming a member of Snowden Lane for the subsequent chapter of his profession.”
Snowden Lane’s expressed enterprise mannequin is to rent breakaway advisors from different monetary establishments. The agency has grown quickly because it was based in 2011, attracting high business expertise from Morgan Stanley, Merrill Lynch, UBS, JP Morgan, Raymond James and Wells Fargo, amongst others.
After recruiting a document 13 advisors and greater than $2 billion in consumer property in 2021, Snowden Lane secured an expanded $50 million credit score facility from Orix Corp. final month, enabling additional enlistment efforts in 2022. 12 months to date, the agency has added eight advisors and 4 assist employees overseeing greater than $1.2 billion in consumer property.
Snowden Lane will proceed to guage potential M&A offers, in line with the spokesperson, including that Hakala “additional demonstrates Snowden Lane’s success in providing a sturdy platform to monetary advisors and impartial, conflict-free monetary recommendation to its numerous consumer base.”
At the moment, Snowden Lane has 125 workers—71 of whom are monetary advisors—throughout 12 workplaces in eight states. The agency’s advisors oversee roughly $4.6 billion through greater than 7,000 accounts, per the corporate’s newest regulatory submitting.