Pat Donachie

New York

Staff writer @wealth_mgmt. Formerly @EdDiveK12, @TimesLedger, @CityLimitsNews. @newmarkjschool alum. Permanently fledgling musician.

Featured in: Favicon

wealthmanagement.com Favicon

qns.com

citylimits.org Favicon

highereddive.com Favicon

wastedive.com Favicon

timesledger.com Favicon

bisanet.org Favicon

k12dive.com Favicon

portfolio.bisanet.org

Articles

Will Other States Follow Suit Against Crypto?

1 week ago | wealthmanagement.com | Pat Donachie

Oregon’s Attorney General filed a complaint against Coinbase and urged states to take up the fight to fill the SEC’s alleged “enforcement vacuum,” but it remains to be seen if other states will do so. As the Securities and Exchange Commission continues changing course on its approach to regulating cryptocurrencies under the Trump administration, the industry is waiting to see if more states will take up the fight launched by Oregon’s Attorney General against Coinbase.
Ex-Focus Financial Advisors Sue to Nullify Non-Compete Agreements

1 week ago | wealthmanagement.com | Pat Donachie

James Patrick and William DeButts claim they resigned shortly after their firm was subsumed by one of Focus’s consolidation hubs. They argue their previous employer is defaming them to clients and business contacts. Two former Focus Financial advisors are suing the RIA aggregator to kill what they call “profoundly anticompetitive” non-solicitation and confidentiality restrictions.
Raymond James Welcomes $950M Team from Ameriprise in Colorado

1 week ago | wealthmanagement.com | Pat Donachie

The 10-advisor Springs Wealth Group, which has offices in Colorado Springs and Texas, will join Raymond James' independent advisor channel. A $950 million 10-advisor team from Colorado is joining Raymond James from Ameriprise. Springs Wealth Group, which is led by managing partners Bob Book, Andrew Inman, Tim Mason, Chris Van Stavern and Chris Young, will join Raymond James’ independent advisor channel. According to Young, the team chose Raymond James because of its culture fit.
SEC Withdraws AI and ESG Rules for Investment Advisors

2 weeks ago | wealthmanagement.com | Pat Donachie

The withdrawn rules cover various complicated issues that impact RIAs, including AI, ESG, cybersecurity and safeguarding client assets. One attorney claimed the SEC’s decision would be a “relief” to smaller advisors. The Securities and Exchange Commission is withdrawing several rules proposed initially during the Biden administration, including a rule intended to rein in firms’ conflicts of interest when using artificial intelligence (AI).
RBC Wealth Management Attracts $1.1 Billion in Assets from UBS Advisors

2 weeks ago | wealthmanagement.com | Pat Donachie

RBC Wealth Management has attracted three UBS advisors, who collectively manage about $1.1 billion in client assets, to join the company. According to RBC, Robert Miller will join the RBC complex in St. Paul, Minnesota, Scott Murray will join the team in Boise, Idaho, and Mark Grueninger will join in Beverly Hills, Calif.
CFP Board Forms AI Working Group, Appoints New Head of Technology

2 weeks ago | wealthmanagement.com | Pat Donachie

The group is the latest sign of the Board’s focus on AI; last month, it released an AI-assisted test prep course and unveiled compliance checklists for advisors using Gen AI earlier this year. The CFP Board is forming an AI Working Group to investigate how artificial intelligence is changing the financial planning profession. The group will include participants from LPL Financial, Ernst & Young, Orion, Fidelity and Edward Jones (among others).
FPA Launches Competency Model to Enhance Advisors' Behavioral Skills

2 weeks ago | wealthmanagement.com | Pat Donachie

The organization’s “competency model” will focus on six areas, including client communication, leadership and professionalism, with a self-assessment and access to webinars and other tools. The Financial Planning Association (FPA) is offering a new program to help advisors chart out ways to build behavioral skills to better their practices, according to the organization.
Dynasty Financial Partners Welcomes $2.6B Anchyra Partners Team

2 weeks ago | wealthmanagement.com | Pat Donachie

Dynasty Financial Partners is bringing on a newly formed Atlanta-based team that includes several Goldman Sachs alumni and manages about $2.6 billion in assets. Anchyra Partners will work with ultra-high-net-worth clients and multi-family offices. The team includes Zack Cloud and Brian Gately, who were previously vice presidents at Goldman Sachs, and Robert Durham, who is joining the team from roles as managing director and regional director at Stephens Inc.
Commonwealth Gains $1.5B Team from Osaic Amid LPL Acquisition

2 weeks ago | wealthmanagement.com | Pat Donachie

Angelo Planning Group is one of Commonwealth’s largest affiliates to date, and the move comes several months after LPL Financial purchased the broker/dealer in a blockbuster deal. A $1.5 billion Rochester, N.Y.-based team is joining Commonwealth Financial Network from Osaic, one of the largest affiliated teams to partner with the firm. Angelo Planning Group’s 30 team members include founder and managing partner Ralph Angelo, Registered Principal Todd Harris and more than a dozen other advisors.
Cetera Launches New RIA and Branches Channel, Appoints Jen Hanau as Lead

2 weeks ago | wealthmanagement.com | Pat Donachie

Cetera is launching a new channel to help manage its independent and employee-based RIA operations for its advisors who opt for either the W-2 or supported independence route. Jen Hanau will join Cetera to lead the channel from Mariner Wealth, where she was the firm’s national managing director for its independent channels (with previous stints at Fidelity and Charles Schwab).