A Snowden Lane team managing $2.2 billion in assets has made a break for independence by launching their own firm in Connecticut.
Based in North Haven, Centel Wealth Advisory will offer customized financial planning and investment services to both individual and institutional clients, with a focus on addressing their evolving financial needs.
The firm is led by Stephen Fordyce, Robert Bowman, and Sam DeGennaro, who bring decades of combined experience in wealth management, financial planning, and tax consulting.
It's backed by key partnerships with Sanctuary Wealth, the national wealth platform which boasts $42 billion in assets and 120 partner firms as of Q2 2024, and BNY Pershing.
Bowman, recognized by one of Forbes's Top Next-Gen Wealth Advisors, emphasized the firm's long-term and client-first approach.
"The hallmark of our business has always been to build trusted, multi-generational relationships by delivering highly personal service and putting clients first," Bowman said in a statement Monday. "We take a planning-driven approach to manage the complex and evolving needs of clients and help them gain clarity, confidence, and control of wealth for today and tomorrow."
The firm provides financial planning services to families and individuals, focusing on multi-generational wealth protection and tailored investment strategies. Centel also offers institutional solutions for foundations, endowments, and corporations, with an emphasis on aligning strategies to meet specific objectives.
DeGennaro, who has over 30 years of experience and a background in tax planning, said the firm’s name reflects its client-centered mission.
"The Centel brand is inspired by one mission—centering everything we do on clients to achieve their goals and elevate their future," he said.
Centel's launch marks a rare departure from Snowden Lane, which has grown to roughly $12 billion in AUM as of May this year.
The firm's push to recruit talent from wirehouses in 2024 has yielded some key wins, including a $208 million father-daughter pair from Laidlaw & Co. in New York and a $1 billion advisor from Morgan Stanley in Florida.
It's a showdown for the ages as wealth managers assess its impact on client portfolios.
CEO Ritik Malhotra is leveraging Savvy Wealth's Fidelity partnership in offers to Commonwealth advisors, alongside “Acquisition Relief Boxes” filled with cookies, brownies, and aspirin.
Fraud losses among Americans 60 and older surged 43 percent in 2024, led by investment schemes involving crypto and social manipulation.
The alternatives giant's new unit, led by a 17-year veteran, will tap into four areas worth an estimated $60 trillion.
"It's like a soap opera," says one senior industry executive.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
