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

Ä¢¹½´«Ã½

Federal Judge Restrains Former UBS Advisors Amid Solicitation Dispute with Elevation Point

Posted on November 12th, 2025 at 9:28 AM
Federal Judge Restrains Former UBS Advisors Amid Solicitation Dispute with Elevation Point

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

A federal judge in Florida has approved a stipulated order restricting a $1.4 billion advisory team that left UBS Ä¢¹½´«Ã½alth Management USA for RIA Elevation Point from contacting certain clients. AdvisorHub reports that the order stems from UBS’s claim that the Loxahatchee Capital team breached inherited account agreements by soliciting clients to transfer their accounts to their new firm.

Judge Aileen M. Cannon of the U.S. District Court in Ä¢¹½´«Ã½st Palm Beach signed the agreed order, which allows the advisors to continue servicing clients who initiated unsolicited transfers or who already have moved their accounts. According to AdvisorHub, the order will remain in effect until a Financial Industry Regulatory Authority (FINRA) arbitration panel decides on UBS’s request for a permanent injunction.

Judge Cannon also directed the advisors to return all UBS confidential information within 72 hours and surrender any personal mobile phones used in their last two years at UBS to a third-party consultant for review.

A lawyer representing the advisors described the order as “a very balanced agreement that preserves both parties’ claims, positions, and arguments to be resolved in the underlying FINRA arbitration.”

UBS alleged in its complaint that the team (The 440 Group) had inherited clients from retired advisors under a one-year non-solicitation agreement. The firm claimed that those retirees were entitled to continued payments under UBS’s retirement program through 2028 and that the team’s alleged solicitation “is hurting” those retired advisors’ financial expectations. UBS asserted that Plum and Cullen began soliciting clients the day after resigning on September 19, with transfer requests totaling more than $200 million in assets.

 

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

Tags: eccleston, eccleston law, ubs

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Ä¢¹½´«Ã½ just wanted to say thanks for your work in helping us get back some of the money we lost. Ä¢¹½´«Ã½ are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. Ä¢¹½´«Ã½ really appreciate the work you did.

Allan and Adele

LATEST NEWS AND ARTICLES

1786734880 Law
August 14, 2026
Cash Sweep Litigation Continues to Drive Legal Costs

Cash sweep litigation continues to increase legal costs for wealth management firms despite the Securities and Exchange Commission's (SEC) decision under the Trump administration to close pending investigations without imposing enforcement penalties, according to AdvisorHub.

1786636784 Law
August 13, 2026
FINRA Orders Centaurus Financial to Pay $1.1 Million Over Variable Annuity Supervision Failures

The Financial Industry Regulatory Authority (FINRA) has ordered Centaurus Financial Inc.

1786553985 Law
August 12, 2026
Proposed FINRA Enforcement Reforms Draw Mixed Reactions From Industry Participants

A new report recommending changes to the Financial Industry Regulatory Authority's (FINRA) enforcement program has generated mixed reactions from investor advocates, securities attorneys and industry professionals, according to ThinkAdvisor.