Estancia Capital Partners, an Arizona-based private equity fund, has closed its strategic growth capital investment in wealth advisory firm, Snowden Capital Advisors.
Snowden will use the invested capital to expand its business by recruiting additional financial advisor partners in existing markets.
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Estancia said that Snowden executives, employees and, financial advisor partners will continue to own a significant stake in the business.
Rob Mooney, managing partner and CEO of Estancia, said: "As we approach US$1 billion in client assets under management, we are gratified to start 2014 with our funding in place.
"We anticipate more high quality financial advisor partners joining our firm and we are encouraged by the increasing number of financial advisors who appreciate both the ownership opportunity and the client service benefits of our boutique environment."
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