A former Edward Jones broker who found himself in hot water over accusations that he violated his non-solicitation agreement can breathe a sigh of relief. When John Lindsey left Edward Jones to go independent in March 2012, he took about half his clients with him. Edward Jones promptly filed a request for an injunction and temporary restraining order, in Ventura County Superior Court, Calif. The firm claimed he had violated his one-year non-solicitation agreement by misappropriating client information and wrongly soliciting clients.
In a May 2012 Superior Court ruling, Judge Tari Cody granted the injunction, upholding Edward Jones' non-solicitation agreement, which prohibits an advisor from soliciting clients of the firm for one year after the advisor's departure. However, in her ruling she stated that nothing in that agreement prohibited Lindsey from servicing Edward Jones clients who reached out to him directly.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access