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

UBS Seeks TRO Against Wells Fargo Team Who Sent Video Message to Clients

Posted on March 30th, 2022 at 2:23 PM
UBS Seeks TRO Against Wells Fargo Team Who Sent Video Message to Clients

From the Desk of Jim Eccleston at Eccleston Law:

UBS Wealth Management is seeking a temporary restraining order (TRO) against two former advisors who recently joined Wells Fargo and allegedly sent a video message to solicit their former clients. 

While UBS seeks to bar the Wells Fargo duo from soliciting their former clients for several reasons, the TRO is rather unique because it emphasizes a video message that the two advisors sent to numerous clients the same night they joined Wells Fargo. In the video, the duo, Travis Luebbehusen and Melanie Avery, discuss their impending move to Wells Fargo, adding that Luebbehusen will be contacting “each one of you” in the coming days. UBS alleges that the timing of the video, which was released on the same day as the duo’s resignation, “strongly suggests” that the duo misappropriated confidential client information and provided it to Wells Fargo. 

According to UBS, the actions of Luebbehusen and Avery were governed by strict non-solicitation and confidentiality provisions, in part because the duo had acquired a “substantial” book of business upon joining UBS from former advisor Susan Brandt, who “voluntarily separated from active employment” with the firm in 2019. In 2017, UBS withdrew from the Protocol for Broker Recruiting, which is an industry agreement that permits advisors to retain certain client information, as well as solicit and do business with their former clients when transitioning between member firms. Luebbehusen and Avery generated $4.1 million in trailing-12 (T-12) monthly revenue from $427 million in client assets at UBS. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston law, ubs wealth management, wells fargo

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

1780507151 Law
June 3, 2026
Starwood REIT Suspends Most Redemptions Amid Liquidity Pressure

Starwood Real Estate Income Trust (SREIT) has announced a temporary suspension of its share repurchase program for most investors.

1780415363 Law
June 2, 2026
SEC Charges California Trader in Alleged $43 Million Ponzi-Like Scheme

The Securities and Exchange Commission (SEC) has filed a civil action against a California day trader accused of operating a $43 million Ponzi-like scheme that allegedly defrauded more than 400 investors.

1780328948 Law
June 1, 2026
Massachusetts Regulators Fine Fidelity $1.25 Million Over Data Breach Allegations

Massachusetts regulators has fined Fidelity Brokerage Services $1.25 million over allegations that the firm failed to adequately protect customer information and properly notify all affected individuals following a significant data breach.