Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

Hightower Sues Texas Advisor Who Departed For Avidian

Posted on February 23rd, 2023 at 4:29 PM
Hightower Sues Texas Advisor Who Departed For Avidian

From the Desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

Hightower Advisors has filed suit against a Texas-based advisor, James McGinness, for allegedly misappropriating confidential client information and improperly soliciting his former clients in violation of his employment agreement. 

Hightower has requested unspecified damages and injunctive relief against McGinness, who joined Hightower via its 2018 acquisition of Salient Capital Advisors. According to Hightower’s complaint, McGinness departed the firm on November 7 for Avidian ÍøÆØ³Ô¹Ïalth Solutions and started calling his former clients that same day. The complaint further accuses McGinness of misappropriating client contact information and alleges that McGinness was likely to transfer about $32 million in client assets to Avidian. 

McGinness countersued Hightower in a Houston county court last December alleging that the claims filed in Delaware should be dismissed for lack of jurisdiction while further noting that he did not misappropriate any client information or violate his employment agreement. 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory and disciplinary matters.

Tags: Eccleston, ÍøÆØ³Ô¹Ï

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

The work that you and your team have performed on my behalf is exemplary.

JT

LATEST NEWS AND ARTICLES

1783957061 Law
July 13, 2026
FINRA Warns of Growing Risks From Finfluencers and AI-Driven Investment Content

Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.