The Court Case We All Thought Was a Victory For the Client

Five years later, Towry v. Raymond James continues making news headlines. The saga began in 2009 when financial advisory firm Towry acquired Edward Jones (EJ) and brought proceedings after the EJ employees left to join Raymond James and a significant number of their clients followed. Towry claimed that the employees had ‘solicited' the clients and were therefore in breach of their restrictive covenants.

Alex Denny, leader of the London labor and employment group, authored an article for Professional Adviser exploring who benefited from Towry v. Raymond James, which is widely seen as a defining moment in adviser-client relationships.