Shawn Patt: Complaint Against Ex-RBC Advisor Settles for $92K

Calabasas, California financial advisor Shawn Patt (CRD# 4484268) recently received an investor complaint that reached a settlement exceeding $90,000. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former RBC Capital Markets broker is currently registered as an investment advisor with Atala Financial.

Mr. Patt’s BrokerCheck report discloses one investor complaint. Filed in April 2024, it alleges that as a representative of RBC Capital Markets, he recommended an unsuitable investment in Velocis III, a real estate fund. In June 2024 the complaint reached a settlement of $92,000.

Atala Financial’s website includes a page describing the firm’s services, including wealth management and private education. “We live in an ever-changing financial world,” it explains. “Just when we think we understand the game, the rules change. While core principles remain the same, we must adapt as the rules shift. Atala Financial is dedicated to providing the education, tools and guidance needed to solve life’s enduring financial challenges!”

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Shawn Patt holds 22 years of securities industry experience. Based in Calabasas, California, he has been registered as an investment advisor with Atala Financial since June 2022. His registration history includes MAG CAP (Calabasas, California; 2021-2022), RBC Capital Markets (Beverly Hills, California; 2016-2021), Morgan Stanley (Beverly Hills, California; 2009-2016), Citigroup Global Markets (Los Angeles, California; 2008-2009), UBS Financial Services (Century City, California; 2002-2008), and SunAmerica Securities (Phoenix, Arizona; 2002). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed as an investment advisor in California. (Information current as of June 22, 2024.)

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