Motoring Wealth Advisors of Raymond James are Premiere Curators of Car Enthusiasts’ Assets

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July 2022

Motoring Wealth Advisors of Raymond James is a proud participant of the Artomobilia volunteer committee and is owned and operated by father-in-law and son-in-law duo Patrick O’Donovan and Cole McCardel, who are both Carmel, Ind., residents.

O’Donovan and McCardel have judged and volunteered at Artomobilia and are passionate automotive enthusiasts who combined their professional expertise in wealth management and their personal passions to create a niche business that serves a specific cliental of automotive collectors, race drivers and racing communities, as well as automotive museums and historical organizations.

A Dynamic and Dedicated Duo

O’Donovan is a Managing Director, Complex Manager with Raymond James & Associates in the firm’s Carmel office. He has the responsibility of overseeing the Indiana Market for Raymond James, as well as serving the financial planning and investment needs of individual, corporate and institutional investors.

Motoring Wealth Advisors

McCardel is a Financial Advisor with Raymond James & Associates and is married to O’Donovan’s daughter, Alyssa. McCardel works actively with attorneys and tax accountants to establish an estate planning process. In his words, “We manage [our clients’] investments and financial planning on an institutional level that the high-net-worth investor may want, but we also help manage their car collection from a valuation standpoint, [as well as] documentation and really anything that comes along. We assist with the curation of their collections.”

Motoring Wealth Advisors

Both O’Donovan and McCardel have developed a proprietary process to manage wealth tailored to the above client groups in a manner that reduces unnecessary risk with a focus on tax efficiency. Most importantly, they account for their client’s automotive related assets in all aspects of the planning process so that the stewardship of their automotive related assets will continue their long-lived legacy on the road or track.

“Cole and I are enthusiasts who have an appreciation for cars and people that have cars,” O’Donovan said. “I’ve been in the [financial services] industry for 41 years, and Cole is a financial advisor with Raymond James, so we got together to create a niche business that we’re passionate about, [and] that’s how Motoring Wealth Advisors of Raymond James was born. It’s really a passion project that has been growing ever since we started it.”

Motoring Wealth Advisors of Raymond James’ association with Artomobilia has been a driving force for the company’s growth in addition to it being a social and recreational event.

“We started out at Artomobilia helping judge, and the more we were around the automotive enthusiast community, we started thinking more about what we do day to day and how a lot of the enthusiasts — in general — were really being overpromised and underdelivered on their services they were receiving by their advisors outside of us,” McCardel shared. “We have a very specific cliental that we serve. We’re only working with [automotive] enthusiasts, collectors and people within motor sports because there’s nobody working in that space in the depth and with the capabilities that we have, and that gives us a competitive advantage. We’ve developed a very specific service model that we’ve had a lot of success with so far.”

Contributors to the Car Enthusiast Community

O’Donovan and McCardel understand the importance of collaborating with other enthusiasts to keep the car culture thriving, and that includes introducing new people — of all ages — to the car enthusiast community. Exposing new and younger people will help to ensure that future generations will be delighted with exquisite car shows and exhibitions that feature decades and centuries of automotive ingenuity and brilliance.

Be sure to check out “Racing Through Time,” a series in partnership with SILO Automotive Club & Conservancy [] and the Indianapolis Motor Speedway Museum that is hosted by
O’Donovan and McCardel.

“It is an experience that we provide to the public, our clients and members of SILO about three times a year,” McCardel explained. “IMS displays a car from their private collection at SILO for a couple of months at a time, and we host a reception/cocktail party that displays the car, and we also have the Curator of Vehicles from IMS — Jason Vansickle — on site to share the history of the vehicle and any significance it may have in the car world. It’s pretty unique and something we enjoy that gets the enthusiast community together.”

McCardel also serves on the Board of Directors for Indianapolis Cars & Coffee — a local registered nonprofit that unites the car community together through large scale car gatherings twice a month.

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Financial Food for Thought for Automotive Collectors

Navigating through some of the twists and turns that life presents throughout one’s life, particularly on the subject of wealth management and estate planning, takes a level of expertise that O’Donovan and McCardel provide their clients.

On the subject of collecting automobiles, as the generations of car collectors age on, the transfer of assets and wealth should be passed into the hands of competent stewards of the collections. In some instances, where there isn’t a plan in place, the event of a collector’s passing can be a daunting process to the relative(s) left to figure out the value of the collection and how to maintain or sell the collection.

O’Donovan and McCardel work closely with CPAs, attorneys, classic automotive insurance providers, vehicle restoration shops, and other automotive related professionals to ensure their planning fully aligns with the client’s needs, with services that include portfolio monitoring, asset preservation, retirement and estate planning, as well as charitable giving. They take care of the due diligence, including in-depth research and analysis of all investments, which allows them to offer their clients guidance that’s proactive instead of reactive.

“At the end of the day, we are super passionate about what we do,” McCardel stated. “Even if we didn’t have our practice, we would still be out there [at Artomobilia] out of pure enjoyment of being around
cars and fellow car enthusiasts. We’ve been fortunate enough to carve a niche [businesses] out of this and serve people in a really specialized way.”

For more information about Motoring Wealth Advisors of Raymond James and its services, visit