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

You guys are good!

Mike L.

LATEST NEWS AND ARTICLES

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.

1783957061 Law
July 13, 2026
FINRA Warns of Growing Risks From Finfluencers and AI-Driven Investment Content

Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.