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

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

1790960250 Law
October 2, 2026
FINRA Arbitrators Award Schwab Client $1.34 Million in Cryptocurrency Scam Dispute

A Financial Industry Regulatory Authority (FINRA) Dispute Resolution Services arbitration panel awarded nearly $1.34 million in compensatory damages to a Charles Schwab & Co.

1790867615 Law
October 1, 2026
Prosecutors Target Multimillion-Dollar Investment Schemes Involving Promissory Notes

Federal prosecutors recently pursued two investment fraud cases involving promissory notes that caused combined investor losses exceeding $25 million.

1790789328 Law
September 30, 2026
SEC Approves FINRA Overhaul of Outside Business Activity Rules

The Securities and Exchange Commission (SEC) has approved FINRA's long-awaited overhaul of the rules governing outside business activities and private securities transactions by financial advisors.