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

ÍøÆØ³Ô¹Ï

RIA EverNest Files Lawsuit to Sever Ties with Sanctuary ÍøÆØ³Ô¹Ïalth Following FINRA Fine

Posted on February 6th, 2024 at 10:45 AM
RIA EverNest Files Lawsuit to Sever Ties with Sanctuary ÍøÆØ³Ô¹Ïalth Following FINRA Fine

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï 

EverNest Financial Advisors, a Carmel, Indiana-based registered investment adviser, has filed a lawsuit seeking to reverse a deal where it sold a 20 percent stake to Sanctuary ÍøÆØ³Ô¹Ïalth almost two years ago.

As reported by AdvisorHub, EverNest is asking the court to issue a judgment allowing it to buy back the stake at a discount and "decouple" from the relationship, citing Sanctuary's alleged failure to abide by the terms of the deal. The RIA claims Sanctuary's refusal to move forward and its resulting delays are unjustified. Sanctuary's stake is valued at $735,000, and EverNest aims to repurchase it for $588,000.

According to AdvisorHub, the triggering event occurred when the Financial Industry Regulatory Authority (FINRA) censured and fined Sanctuary Securities, leading to the alleged breach of the parties’ agreement. Sanctuary Securities had been censured and fined by FINRA for failing to disclose material information to investors. The lawsuit also seeks damages and legal costs.

 

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

Tags: eccleston, eccleston law, finra

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

1778171646 Law
May 7, 2026
FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.

1778084309 Law
May 6, 2026
FINRA Outlines Key Rulemaking Priorities and Recent Developments in Quarterly Agenda

The Financial Industry Regulatory Authority (FINRA) recently released its Quarterly Regulatory Policy Agenda, offering a detailed view of its rulemaking priorities, pending proposals, and recently approved regulatory changes.

1778000603 Law
May 5, 2026
Commonwealth Financial Network Resolves SEC Conflict of Interest Case

Commonwealth Financial Network has agreed to pay $5 million to resolve a long-standing conflict of interest case brought by the Securities and Exchange Commission, according to reporting by ThinkAdvisor.