Advisors Thomas Boyd and James Richard have left Snowden Lane Partners to launch their own registered investment advisor, Coral Reef Advisors, in Ponte Vedra Beach, Fla., according to public filings.
The duo established Snowden Lane’s first location in Chicago when they joined the employee-partnership model in late 2019 from J.P. Morgan, where they managed $180 million at the time. The Boyd Richard Group is still listed on the Snowden Lane website, but contact information and links are no longer working. Boyd and Snowden Lane both declined to comment.
In the RIA’s Form ADV, Boyd and Richard are named as managing partners at Coral Reef, which is principally owned by Boyd.
Joined by one support staff member at the new firm, the two are also registered as insurance agents, and Boyd is now registered with broker/dealer Private Client Services. However, a Jan. 19 document indicates that both Boyd and Richard intended to offer brokerage services through Purshe Kaplan Sterling.
Coral Reef has selected Schwab for custody and primary brokerage purposes.
Citing the wide range of research, tools and services made available through Schwab Advisor Services, the firm states on Part 2 of its Form ADV: “We are not required to select the broker or dealer that charges the lowest transaction cost, even if that broker provides execution quality comparable to other brokers or dealers. Although we are not required to execute all trades through Schwab, we have determined that having Schwab execute most trades is consistent with our duty to seek ‘best execution’ of your trades.”
Target clients will include wealthy individuals, trusts, charitable organizations, and businesses. Fees, charged on a blended tier schedule, will run from 1.25% for clients with less than $2 million in investable assets to 0.7% for those with more than $10 million.
Snowden Lane is a dually registered wealth management platform offering W-2 employees, primarily recruited out of wirehouses and bank-based private wealth teams, back office support and equity ownership along with a certain degree of autonomy in terms of branding and practice management. After recruiting more than $1 billion in assets last year, Snowden Lane oversees more than $10 billion in total assets across 27 teams.
Take a look at our comprehensive guide to the best and most popular information ebooks and products available today on Detoxing, Colon Cleansing, Weight Loss and Dating and Romance. They are all in one spot, easy to find and compere to make a quick selection for the product that best fits your needs or wants.
So browse through a category and make your preferred selection and come back here to read more choice articles and get a few more helpful tips on ways to help your enhancement.
As an Amazon Associate I earn from qualifying purchases. “saubiosaubiosuccess.com is a participant in third party affiliate and advertising programs; The Amazon Services LLC Associates Program, Awin network, and other affiliate advertising programs are designed to provide a means for sites to earn advertising fees and commissions by advertising and linking to products on other sites and on Amazon.com. Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates.”
We use anonymous cookies and various 3rd-party services to optimise and to offer you a better, more personalised, browsing experience with advanced accessibility enhancements.
Dismiss
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
