A Morgan Stanley advisor left the wirehouse to join Snowden Lane Partners, according to a spokesman for the independent firm.
Based in Snow Haven, Conn., Kieran Doherty joined an existing team at Snowden Lane that manages more than $860 million in client assets, the firm says. The team is led by partners and managing directors Kevin Guth and Steve Fordyce.
Doherty started his career at First Albany Capital in New York 12 years ago, according to FINRA BrokerCheck records. Having focused on institutional investors at First Albany, Doherty then switched to work with Fixed Income Sales and Trading at Janney Montgomery Scott and later at Deutsche, according to a spokesman for Snowden Lane.
Doherty said he made the move in part because of Snowden Lane's boutique model; something he says is the future of the advisory business.
"For me, the move was just as much about helping lead the charge on that trend, as much as it was to be among a smart, dynamic and established group of professionals who know how to help clients achieve their financial goals," Doherty said in a statement.
Snowden Lane is a hybrid wealth investment advisor and broker-dealer headquartered in New York and led by former wirehouse executives. The firm has recently hired other wirehouse advisors, including Merrill Lynch advisor Alex Arista and lending specialist Juan Carlos Moreno earlier this year. Late last year, the firm also recruited another Merrill Lynch team that managed $200 million in client assets.
Morgan Stanley declined to comment on Doherty's departure.