What the Towry case could mean for adviser contracts

In the aftermath of Towry’s High Court defeat against wealth rival Raymond James, its chief executive, Andrew Fisher, had the following to say: “This judgment [supports] the efforts of professional services firms to protect their legitimate business interests, through contractual non-solicitation, non-dealing and confidentiality clauses.” Towry had accused seven former Edward Jones (EJ) advisers – and their new employer Raymond James – of breaching a clause in their contracts by contacting their former clients after Towry acquired EJ in 2009. But the Honourable Justice Cox was sati...