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

Hightower Sues Texas Advisor Who Departed For Avidian

Posted on February 23rd, 2023 at 4:29 PM
Hightower Sues Texas Advisor Who Departed For Avidian

From the Desk of Jim Eccleston at Eccleston Law

Hightower Advisors has filed suit against a Texas-based advisor, James McGinness, for allegedly misappropriating confidential client information and improperly soliciting his former clients in violation of his employment agreement. 

Hightower has requested unspecified damages and injunctive relief against McGinness, who joined Hightower via its 2018 acquisition of Salient Capital Advisors. According to Hightower’s complaint, McGinness departed the firm on November 7 for Avidian Wealth Solutions and started calling his former clients that same day. The complaint further accuses McGinness of misappropriating client contact information and alleges that McGinness was likely to transfer about $32 million in client assets to Avidian. 

McGinness countersued Hightower in a Houston county court last December alleging that the claims filed in Delaware should be dismissed for lack of jurisdiction while further noting that he did not misappropriate any client information or violate his employment agreement. 

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
Quotes Bigger

You were most helpful with my FINRA deposition. You are a good lawyer and a good person.

Dan B.

LATEST NEWS AND ARTICLES

1784228879 Law
July 16, 2026
Delaware Judge Dismisses United Capital's Poaching Lawsuit Against Osaic With Leave to Amend

A Delaware judge has dismissed United Capital's lawsuit accusing Osaic of improperly recruiting financial advisors and soliciting client assets, but allowed the wealth management firm to file an amended complaint, according to AdvisorHub.

1784134373 Law
July 15, 2026
LPL Financial Faces Class Action Over Phoenix Annuity Disclosures

LPL Financial faces a proposed class action lawsuit alleging that the firm failed to warn annuity investors about the declining financial condition of Phoenix PHL Variable Insurance Company.

1784046159 Law
July 14, 2026
Mariner Wealth Advisors Reports Data Breach Affecting Nearly 9,000 Customers

Mariner Wealth Advisors LLC disclosed a data breach that exposed personal information of 8,995 customers, according to AdvisorHub.