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

If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

January 5, 2026
FINRA Suspends Former UBS Broker Over Personal Credit Card Transfers

The Financial Industry Regulatory Authority (FINRA) has sanctioned a former UBS Wealth Management USA broker, Timothy R. Jones.

December 22, 2025
FINRA Overhauls Arbitration Rules to Rebalance Arbitrator Selection and Codify Forum Practices

The Financial Industry Regulatory Authority (FINRA) has approved significant amendments to its Codes of Arbitration Procedure designed to rebalance public arbitrator selection, increase transparency, and formalize several long-standing practices in the arbitration forum.

December 19, 2025
Industry Groups Press Senate at Advance Financial Exploitation Prevention Act

Several industry associations are urging the U.S. Senate to pass the Financial Exploitation Prevention Act, legislation that would allow mutual fund companies and their transfer agents to delay redemptions when they reasonably suspect elder financial abuse.