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Cresset Sues Former Advisor Over Alleged Client Solicitation and Competing RIA Launch

Posted on July 23rd, 2026 at 1:53 PM
Cresset Sues Former Advisor Over Alleged Client Solicitation and Competing RIA Launch

From the desk of Jim Eccleston at Ä¢¹½´«Ã½

Cresset Capital Management has filed a lawsuit in Illinois state court against a former advisor, alleging that he began building a competing registered investment advisory firm and soliciting clients while still employed by the Chicago-based wealth management firm.

According to AdvisorHub, Cresset filed the action in federal court in Illinois against Travis Henry, a former managing director in the firm's sports and entertainment division. The lawsuit alleges that Henry established his new firm, Factor Capital, and attempted to divert clients and employees away from Cresset before resigning earlier this month.

As reported by AdvisorHub, Cresset alleges that Henry spent the weeks leading up to his departure contacting clients and colleagues about moving their business to his newly formed RIA.

Cresset contends that Henry violated contractual obligations that prohibit him from soliciting clients and employees for one year following his departure from the firm. The company alleges that he attempted to "raid Cresset's business from within" while still serving as an employee.

To address the alleged conduct, Cresset has asked the court to issue a temporary restraining order and a preliminary injunction aimed at preventing any further solicitation activities.

According to AdvisorHub, neither Henry's legal representatives nor Cresset's attorneys immediately responded to requests for comment. A spokesperson for Cresset also did not provide comment regarding the litigation.

Henry began his financial services career at Morgan Stanley in 2011 and joined Cresset in 2023 as part of the firm's acquisition of True Capital Management.

Ä¢¹½´«Ã½ LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, ria litigation, client solicitation, wealth management, securities law, registered investment advisor

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