Triad Advisors Sues Former Advisers

Posted on May 17th, 2017 at 1:16 PM
Triad Advisors Sues Former Advisers

From the Desk of Jim Eccleston at Eccleston Law LLC:

Last year, independent broker-dealer, Triad Advisors, Inc. sued a group of 3 advisers who left the firm for violating the terms of a promissory note from 2012. The note stipulated that they had to stay at Triad for a five-year period to repay the loan. After the 3 advisers left Triad they started their own broker-dealer, Arkadios Capital.

The lawsuit filed by Triad was an unusual move by an independent firm. Triad was among the first to recruit “hybrid" advisers, those with businesses that operated as both brokers licensed with FINRA and as advisers registered with the states or SEC. As a result of the lawsuit, the ex-advisers have filed an arbitration claim against Triad with FINRA. The cases are ongoing.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & Arbitration, Strategic Consulting Services, Regulatory  Matters, Transition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, James Eccleston, Eccleston Law LLC

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Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.


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