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

Morgan Stanley Seeks Injunction Against Former Advisor for Soliciting Clients

Posted on April 26th, 2024 at 9:14 AM
Morgan Stanley Seeks Injunction Against Former Advisor for Soliciting Clients

From the desk of Jim Eccleston at Eccleston Law 

Morgan Stanley has taken legal action against Gregory T. Chevrier to prevent him from contacting his former clients. AdvisorHub reports that the complaint aims to enforce a succession agreement Chevrier signed with a retiring advisor.

Chevrier, who joined Wells Fargo in February, oversaw significant client assets at Morgan Stanley. However, a non-solicitation clause in an agreement with the widow of his former partner, Walter J. Grubbs, restricted his ability to reach out to these clients.

The succession agreement stipulated that Grubbs' widow continues to receive a percentage of revenue from client accounts for up to five years, provided they remain at Morgan Stanley.

Since joining Wells Fargo, allegations in the court complaint suggest that Chevrier has aggressively solicited Morgan Stanley clients, offered enticing fee structures, and allegedly made disparaging remarks about his former firm. AdvisorHub also reports that Morgan Stanley refuted these claims and asserted that Chevrier's actions violated his legal obligations.

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

We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

LATEST NEWS AND ARTICLES

1778685786 Law
May 13, 2026
FINRA Fines J.P. Morgan Securities $3.25 Million Over Supervisory Failures in High-Risk Strategy

The Financial Industry Regulatory Authority (FINRA) has sanctioned J.P.

1778601835 Law
May 12, 2026
UBS Shifts SMA Oversight In-House, Discloses Potential Conflicts

UBS Wealth Management USA has begun restructuring how it manages separately managed accounts ("SMAs"), moving key oversight functions in-house and aligning its model more closely with competitors, according to reporting by AdvisorHub.

1778521728 Law
May 11, 2026
Private Credit Funds Face Rising Redemptions and Valuation Scrutiny

Investor pressure on private credit funds continues to intensify as redemption requests increase and concerns emerge over how firms value underlying loan portfolios.