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

Ä¢¹½´«Ã½

Morgan Stanley Seeks Injunction Against Former Advisor for Soliciting Clients

Posted on April 26th, 2024 at 9:14 AM
Morgan Stanley Seeks Injunction Against Former Advisor for Soliciting Clients

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

Morgan Stanley has taken legal action against Gregory T. Chevrier to prevent him from contacting his former clients. AdvisorHub reports that the complaint aims to enforce a succession agreement Chevrier signed with a retiring advisor.

Chevrier, who joined Ä¢¹½´«Ã½lls Fargo in February, oversaw significant client assets at Morgan Stanley. However, a non-solicitation clause in an agreement with the widow of his former partner, Walter J. Grubbs, restricted his ability to reach out to these clients.

The succession agreement stipulated that Grubbs' widow continues to receive a percentage of revenue from client accounts for up to five years, provided they remain at Morgan Stanley.

Since joining Ä¢¹½´«Ã½lls Fargo, allegations in the court complaint suggest that Chevrier has aggressively solicited Morgan Stanley clients, offered enticing fee structures, and allegedly made disparaging remarks about his former firm. AdvisorHub also reports that Morgan Stanley refuted these claims and asserted that Chevrier's actions violated his legal obligations.

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

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

If you find yourself in trouble with the regulators, call Ä¢¹½´«Ã½, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

1786980584 Law
August 17, 2026
Federal Judge Allows Investor Class Action Over Lightstone REIT Disclosures to Proceed

A federal judge has allowed investors to proceed with a class-action lawsuit alleging that directors and advisors of three Lightstone Value Plus REITs failed to disclose a significant conflict of interest before shareholders voted on amendments extending the funds' operating periods.

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.