Mariner Wealth Advisors Face Legal Heat as Competitors Allege Aggressive Recruiting Tactics
From the desk of Jim Eccleston at Eccleston Law
Mariner Wealth Advisors has recently become the target of multiple lawsuits from competitors, including Edelman Financial Engines, Avantax, and RWA Wealth Partners.
The suits accuse Mariner of employing aggressive recruiting tactics that violate standard business practices, alleging the luring away of advisors, breaking confidentiality agreements, and divulging trade secrets. According to WealthManagement.com, the surge in legal actions has raised questions about Mariner's growth strategy, whether it has crossed legal boundaries, or, on the other hand, if rivals are reacting to losing talent.
The conflicts shed light on the challenges of aggressive expansion, with observers speculating on the consequences of Mariner's rapid growth, currently managing $112.3 billion in assets and boasting over 1,500 advisors.
Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.
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