Towry loses client 'poaching' case in High Court

clock

Wealth manager Raymond James today won what may prove to be a landmark court case against rival Towry, which had accused seven Raymond James advisers of unlawfully soliciting its clients.

A decision in the case was handed down at the Royal Courts of Justice this afternoon. The Honourable Mrs Justice Cox dismissed the claim by Towry that the seven advisers - who left the company after it acquired Edward Jones in 2009 - had broke their contracts by contacting their former clients. "Having regard to the whole evidence in this case, the allegations against Raymond James do not withstand scrutiny", the judgement reads. Towry began legal action against the seven advisers - Barry Bennett, Pieter Burger, James Chandler, Wayne Hayhurst, Thomas Spain, Stuart Hutton and Tracey...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Retirees shun financial advice and take DIY approach to finances

Retirees shun financial advice and take DIY approach to finances

Four in five of over 55s who have retired, did so without financial advice

Sahar Nazir
clock 29 April 2024 • 1 min read
More than money: Putting your clients on the right track

More than money: Putting your clients on the right track

'In truth, financial advice is so much more than just money'

Roger Brosch
clock 29 April 2024 • 4 min read
Plugging the support gap in retirement 'not FCA's role'

Plugging the support gap in retirement 'not FCA's role'

Majority of professionals say FCA should not have to plug support gap

Sahar Nazir
clock 29 April 2024 • 1 min read