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Raymond James Loses NY Rep to Snowden Lane

By Alex Padalka July 12, 2018

Snowden Lane Partners has nabbed a financial advisor from Raymond James, Snowden says in a press release.

Matthew Davidson, who managed $60 million at Raymond James, joins Snowden’s New York office, according to the press release. Davidson offers wealth management services to domestic and international clients and joins Snowden as a partner and director, forming the Davidson Group within Snowden, the company says.

“I couldn’t be more pleased about this opportunity for my clients and my business,” Davidson says in the press release. “Joining Snowden Lane opens a lot of doors for my clients, providing them more options and flexibility to reach their financial goals. The financial advisory industry is evolving at a rapid pace and I’m pleased to be with a firm that’s focused on staying ahead of the curve.”

Davidson has only been registered with Finra since 2016, according to his BrokerCheck profile, but before joining Raymond James that year he had worked at Merrill Lynch and Oppenheimer, according to Snowden.

Greg Franks, Snowden’s managing partner and president, says in the press release that, “2018 continues to be a big year for our business.” The advisor-owned independent firm, which was founded in 2011, has attracted representatives from rivals Morgan Stanley, Merrill Lynch, UBS, JPMorgan and Wells Fargo, Snowden says.

Last month, Snowden lured a team of Wells Fargo advisors overseeing more than $150 million.

But Raymond James has been busy picking off advisors from its competitors as well in recent months.

Earlier in July, the company picked up a representative managing $182 million from RBC Wealth Management. Raymond James also nabbed several advisors from Wells Fargo in June who collectively oversaw at least $1.4 billion.