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

Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

LATEST NEWS AND ARTICLES

1778084309 Law
May 6, 2026
FINRA Outlines Key Rulemaking Priorities and Recent Developments in Quarterly Agenda

The Financial Industry Regulatory Authority (FINRA) recently released its Quarterly Regulatory Policy Agenda, offering a detailed view of its rulemaking priorities, pending proposals, and recently approved regulatory changes.

1778000603 Law
May 5, 2026
Commonwealth Financial Network Resolves SEC Conflict of Interest Case

Commonwealth Financial Network has agreed to pay $5 million to resolve a long-standing conflict of interest case brought by the Securities and Exchange Commission, according to reporting by ThinkAdvisor.

1777908810 Law
May 4, 2026
KKR Limits Redemptions in Private Credit Fund Amid Rising Investor Withdrawals

KKR & Co.