Edelman Financial Files Lawsuit Against Mariner Alleging Client Poaching and Defamation

Posted on December 14th, 2023 at 11:54 AM
Edelman Financial Files Lawsuit Against Mariner Alleging Client Poaching and Defamation

From the desk of Jim Eccleston at Eccleston Law 

Edelman Financial Engines initiated legal action against Mariner Wealth Advisors, alleging that the Registered Investment Advisor (RIA) engaged in the wrongful recruitment of Edelman's financial advisors.

Barron’s reports that the lawsuit accuses Mariner of defamation, incentivizing advisors to violate employment contracts, and unlawfully obtaining trade secrets to solicit clients. According to the complaint, Mariner reportedly has recruited 10 Edelman advisors, resulting in numerous broken employment contracts and the solicitation of 851 former Edelman clients, representing around $621 million in assets. Edelman claims that Mariner employed aggressive tactics, including portraying Edelman as a "sinking ship" and pressuring financial planners to leave.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.

LATEST NEWS AND ARTICLES

February 25, 2026
Advisors Increase Crypto Allocations as Merrill Lynch Warns of Significant Risks

Financial advisors are placing more client assets into digital currencies, even as major firms caution investors about the asset class's volatility and speculative nature.

February 24, 2026
Merrill Lynch Highlights AI Risks as FINRA Urges Greater Oversight of Emerging Technology

Merrill Lynch has warned that the expanded use of artificial intelligence and machine learning introduces material operational, compliance, and cybersecurity risks for advisory firms.

February 23, 2026
Drive Planning Founder Pleads Guilty to $380 Million Ponzi Scheme

Todd Burkhalter, founder and chief executive officer of Drive Planning LLC, has pleaded guilty to wire fraud after admitting he orchestrated a $380 million Ponzi scheme that defrauded more than 2,000 investors.