91视频下载链接

Commonwealth Financial and Former Edward Jones Advisors Ordered to Pay $3.5 Million in Arbitration Award

Posted on April 9th, 2025 at 10:08 AM
Commonwealth Financial and Former Edward Jones Advisors Ordered to Pay $3.5 Million in Arbitration Award

From the desk of Jim Eccleston at 91视频下载链接

An arbitration panel has ordered independent broker-dealer Commonwealth Financial and a group of advisors formerly with Edward D. Jones & Co. to pay $3.5 million following a legal dispute over their departure, according to an arbitration award.

AdvisorHub reports that Edward Jones had alleged that Commonwealth and eight brokers who left in late 2022 to form Cedarwood Financial Partners in Temple, Texas, and Olean, New York, engaged in misconduct, including violations of trade secret laws, civil conspiracy, and breaches of contract and fiduciary duty. According to AdvisorHub, Edward Jones claimed the departures severely disrupted its business operations across parts of Texas and New York.

Edward Jones welcomed the decision, stating that it held the former advisors accountable for their violations and Commonwealth responsible for facilitating their wrongful actions.

AdvisorHub reports that the firm initially had sought over $16 million in damages but was awarded significantly less.

Commonwealth and the advisors denied any wrongdoing and counterclaimed that Edward Jones had disparaged them and interfered with customer relationships by providing misleading or inaccurate information to customers. The arbitration panel rejected their counterclaims.

 

91视频下载链接 LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

May 9, 2025
FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account

FINRA has fined and suspended former Wells Fargo financial advisor Jarrett Thomas after he executed a $50,000 transaction for an elderly client despite being informed that she was no longer capable of managing her finances.

May 8, 2025
All 50 States Now Aligned on Annuity Sales Standards

The annuity industry officially has secured uniformity in sales regulations across all 50 states.

May 7, 2025
Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

A federal jury in Massachusetts has found investment adviser Jeffrey Cutter and his firm, Cutter Financial Group, liable for violating federal securities law by failing to disclose significant upfront commissions and conflicts of interest related to an annuity replacement scheme.