Patrick Donachie

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.

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

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.

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.

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.

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

Strata Financial Group opted to move to LPL because of its “transparency and robust public presence,” according to one advisor.

The election outcome means current tax rates are likely to stay, which could enable some dealmakers to take a bit more time closing ongoing acquisitions.

Kenneth Welsh pleaded to five wire fraud counts that carry a maximum penalty of 20 years in prison each.

Gensler’s term was set to expire in 2026, but he announced today that he will leave at noon on Jan. 20, 2025. He called working with the commission’s staff “an honor of a lifetime.”