Edward Jones’ Suit Against Barton Client Ameriprise Financial Ends in $762K Arbitration Loss for the Investment Giant

Nov 8, 2021 | In The Media
Partner

As reported by AdvisorHub, Barton LLP has once again led a successful defense effort against financial services firm Edward Jones. The victory comes amid Edward Jones’ effort to block a former broker-dealer from transferring clients to his new firm, Ameriprise Financial. After Edward Jones filed and received an ex parte temporary restraining order in the District of Nevada federal court, within 15 days of the filing of defenses to these allegations, a Finra arbitration panel completely dissolved the federal order against the advisor.

On November 4, 2021, after an in-person hearing, a three-person Finra arbitration panel found in favor of Barton’s client, denying Jones’ breach of contract and trade secret claims and ordering the firm to pay over $762,000 in damages and attorney fees. This extends Barton’s national victories against Edward Jones in the last three years, adding to a recent trend of successes for individual registered representatives and industry competitors who are recruiting Edward Jones’ advisors around the country.

Barton’s team for the case was led by Operations Partner and financial services litigator James Heavey and litigation Partner Michael Ward, with support from Associate Sarah Sears.