Federal Judge Restrains Raymond James from Soliciting Former TD Bank Clients

Posted on June 28th, 2024 at 11:04 AM
Federal Judge Restrains Raymond James from Soliciting Former TD Bank Clients

From the desk of Jim Eccleston at Eccleston Law

A federal judge has issued a restraining order against two Raymond James advisors, preventing them from contacting their former clients at TD Bank. As reported by Financial Planning, the decision stems from allegations that the advisors violated a non-solicitation agreement by transferring millions in client assets from TD Bank to Raymond James.

In a controversial move, the judge extended the restraining order to encompass all of Raymond James Financial Services, not just the two advisors directly involved. Raymond James argues that this broader restraining order is "grossly overbroad" and significantly impacts their business operations.

The case highlights the legal complexities and challenges surrounding non-solicitation agreements in the financial services industry. The court’s decision underscores the importance of seeking competent legal advice.

According to Financial Planning, Raymond James is expected to continue challenging the scope of the restraining order.

 

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

I just wanted to say thanks again for preparing and executing my case in such a professional manner. It was a pleasure to watch two professionals take such pride in their work, as well as becoming personally in tune with your client (Me). I would personally recommend you and your firm to anyone.

John O.

LATEST NEWS AND ARTICLES

December 16, 2025
Reminders for CFAs in Adhering to Compliance Standard, Client-Disclosure and Conflict Management Requirements

In 2023, the CFA Institute Board of Governors approved targeted revisions to the Standards of Professional Conduct, adding one new standard and updating two others.

December 15, 2025
FINRA Sanctions Former Merrill Broker for Unapproved Referral Payouts

The Financial Industry Regulatory Authority (FINRA) issued a six-month suspension and a $7,500 fine against former Merrill Lynch broker Jeremiah Householder after finding that he accepted referral commissions from an unapproved third-party lender.

December 12, 2025
SEC Charges Driver Who Posed as a Financial Professional and Lost Over $1 Million

Federal regulators charged a New York area driver with masquerading as a seasoned investment professional and causing significant losses for three investors.