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

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