Patrick Donachie

Kaival Patel was previously convicted of charges stemming from a plan to collect commissions on falsely prescribed compound medications, according to the Justice Department.

In a motion filed this week, Sanctuary claimed there was “no evidence” a FINRA sanction against a Sanctuary subsidiary had “any adverse economic effect” on EverNest’s business.

Nicholas Takahashi and his team managed about $1.3 billion when it left the wirehouse earlier this year, but Morgan Stanley alleged the rep was breaking his non-solicitation vows.

The new lawsuit comes several weeks after the RIA acquirer dropped its claims against Lars Knudsen. The firm claimed the advisor had broken his restrictive covenants after being fired.

Rush Benton will replace Cascadia Capital CEO and Chairman Michael Butler on the board.

Diversified Capital Management was previously with Cadaret Grant before Atria Wealth bought it and LPL acquired Atria.

Andrew Selu is the latest Edelman employee to move to Overland Park, Kan.-based Prime Capital. Several former Edelman advisors have sued to break non-solicitation contracts this year.

The deal for City Fiduciary Group is Allworth’s seventh this year and will boost the RIA’s presence in the region.