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Alex. Brown Poaches $170M FA From Snowden Lane

By Alex Padalka April 15, 2019

A managing director and senior partner with Snowden Lane Partners has jumped ship to Alex. Brown, a division of Raymond James, according to a press release from Raymond James.

Joseph Hubbell oversaw around $170 million at Snowden Lane for ultra-high net worth and high net worth clients, Raymond James says. Prior to joining Snowden Lane, Hubbell had stints in investment advice, institutional fixed income and sales and branch management at several firms, including UBS and JPMorgan Securities, according to the press release. He has close to 35 years of experience in wealth management, private banking and capital markets, Raymond James says.

“I decided to join Alex. Brown after very careful due diligence and consideration for the future of my practice and the wealth management business,” Hubbell says in the press release. “With Alex. Brown’s rich 200-year history and Raymond James’ resources, the firm has established a strong presence not only in wealth management, but also in capital markets, investment banking and public finance. This combination provides deep resources for me to serve my clients’ needs, while maintaining a distinct boutique culture.”

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Voya Loses $155M Practice to LPL Financial

LPL Financial has lured a pair of financial advisors from Voya Financial, LPL says.

Laguna Hills, Calif.-based O&R Partners, which includes financial advisors Dave Olivieri and Wes Rowlands, join LPL’s broker-dealer and corporate RIA platforms, according to a press release from LPL. They previously managed around $155 million in brokerage, advisor and retirement plan assets, LPL says.

“We needed a larger broker-dealer to help support our growth. LPL has the size and stability that can address the advancing needs we have to execute on our growth strategy,” Rowlands says in the press release. “When you include the robust technology that LPL offers advisors, it sets up for success, simplifying the day-to-day interactions with clients and allows us to focus on wealth management strategies that can add value to our clients’ financial futures.”

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Element Pointe Advisors Nabs Kestra Exec for CCO Role

Heath Wruble has joined Element Pointe Advisors, a wealth management and family office advice firm, as its chief compliance officer, Element Pointe says.

Wruble joins the firm from Kestra Financial, where he oversaw regulatory relations and compliance, according to a press release from Element Pointe.

Prior to Kestra, Wruble worked for the State of Florida Office of Financial Regulation and in the regulatory group of Bear Stearns, Element Pointe says.