This previous yr noticed the RIA trade proceed to mature, with companies turning into extra advanced and complex when it comes to their employment contracts and non-solicitation agreements. And with that got here a struggle for expertise that was extra aggressive than ever.
A few of these battles have been taken to court docket. From firms suing one another over poaching advisors to money sweep lawsuits affecting custodians, a lot of our protection this yr centered round lawsuits.
Take Mariner, which is dealing with lawsuits on a number of fronts from different companies. The Carson Group was sued by a former worker relating to a sexual assault allegation. LPL was accused of a “company raid” and likewise settled with fired CEO Dan Arnold.
Have a look again at these litigious high tales from 2024.