Ashton Thomas Launches New York Office and Welcomes $500M Private Wealth Team

The McDonagh Bauers Private Wealth Team, formerly of Alex Brown, a division of Raymond James, has joined Ashton Thomas Private Wealth, an Arax Investment Partners firm. The team had $500M in assets under management while at Alex Brown.

“We are delighted to join Ashton Thomas Private Wealth and introduce our clients to resources and capabilities they offer,” states Ted McDonagh, Managing Director and Partner. “Ashton Thomas and Arax have partnered to offer a platform that we believe rivals the top firm offerings in the wealth management space. We couldn’t be more excited for what lies ahead.”

Daniel Bauers, Director and Partner, offered this insight: “Our clientele include affluent multigenerational families with inherently complex needs. They require a lot of our team and rightfully so. We feel Ashton Thomas offers an elegant solution for our clients and we look forward to expanding those relationships with the resources we now have at our disposal.”

Also joining Ashton Thomas as part of the team is Justine Kinaj, Senior Registered Associate. The team will operate from the firm’s midtown Manhattan office near Rockefeller Plaza where Arax also is headquartered.

McDonagh joined Alex Brown in 2008 and Bauers joined Alex Brown in 2016. Both advisors had prior industry experience at other firms in the New York metropolitan area before joining Alex Brown.

“Ted and Dan make a great addition to our growing team of established wealth advisors,” states Ashton Thomas founder and CEO, Aaron Brodt. “We now have an anchor in the financial capital of the U.S., and we could not be more delighted to have such fine professionals represent us as our first team in New York City.” The McDonagh Bauers team will affiliate with the firm’s hybrid broker-dealer, Ashton Thomas Securities.