JPMorgan Pursues Legal Action Against Advisor Who Moved to Wells Fargo

Posted on January 26th, 2024 at 1:21 PM

From the desk of Jim Eccleston at Eccleston Law 

JPMorgan Chase & Co. has initiated legal action, seeking a temporary restraining order against former employee Jeffry Neal Carel. Carel, a former private client advisor with J.P. Morgan Securities, resigned and joined Wells Fargo Advisors.

The complaint alleges that Carel violated his employment agreements by taking customer information and engaging in improper solicitation efforts. Neither Carel nor Wells Fargo has responded to the complaint. According to AdvisorHub, the move follows a pattern for JPMorgan, as the bank has a history of pursuing legal action against former employees, claiming that they have breached their employment agreements.

 

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

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