Tr?id=566623520170033&ev=PageView&noscript=1

Former JPMorgan Advisor Agrees to Injunction Amid Solicitation Allegations

Posted on January 29th, 2024 at 1:06 PM
Former JPMorgan Advisor Agrees to Injunction Amid Solicitation Allegations

From the desk of Jim Eccleston at Eccleston Law 

A former JPMorgan advisor sued last week, in connection with his transition to an independent practice with Kestra Private Wealth Services, has agreed to a stipulated injunction prohibiting him from soliciting his former customers.

The decision comes in response to a lawsuit filed by JPMorgan, accusing the advisor of soliciting at least six customers and urging them to transfer accounts to Kestra, a move that allegedly violated his previous employment agreements with JPMorgan.

The stipulation mandates the return of any client documents taken. It places the court case on hold pending a related claim filed by JPMorgan in arbitration with the Financial Industry Regulatory Authority (FINRA). The agreement permits him to process account transfer requests initiated by former customers and continue serving those who choose to move.

According to AdvisorHub, JPMorgan has a history of legal action when its bank-based advisors depart for competing firms, acting through its broker-dealer entity, J.P. Morgan Securities.

 

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

Tags: eccleston, eccleston law, finra

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

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

Marci M.

LATEST NEWS AND ARTICLES

1783012078 Law
July 2, 2026
Financial Services Institute Backs New Jersey Bill Protecting Independent Advisor Model

The Financial Services Institute (FSI) has urged New Jersey lawmakers to advance legislation that would help preserve the independent contractor status of financial advisors operating in the state.

1782920284 Law
July 1, 2026
Private Credit Funds Face Scrutiny Over Software Exposure Amid Investor Concerns

Private credit fund managers are facing increased scrutiny over their exposure to software companies as investors continue to pull money from the sector during ongoing market volatility.

1782836587 Law
June 30, 2026
FINRA Signals Stronger Enforcement Focus on Reg BI, Excessive Trading, and Best Execution

The Financial Industry Regulatory Authority (FINRA) plans to intensify its enforcement efforts against Regulation Best Interest (Reg BI) violations, excessive trading, options trading, churning, and best execution failures after bringing a record number of retail investor protection cases in 2025, according to ThinkAdvisor.