A former Edelman Financial Engines advisor has filed suit in Delaware federal court to have a court declare as void his non-solicitation agreements.

The effort is unique on its face as the advisor claims that the firm's policies put him at odds with his fiduciary duties to clients. He points to multiple leadership changes since 2018 and asserts that Edelman's focus has shifted toward cost-cutting at the expense of client service  and education. The advisor also alleges the firm failed to address his concerns about inadequate support staff and describes Edelman as "litigious" with departing advisors, claiming it often misleads clients about where their former advisor has gone, according to Wealth Management.

As reported by Wealth Management, the outcome of the advisor's case will determine not only the validity of his non-solicitation agreement, but also whether he may notify clients of his departure and accept business from those who wish to follow him.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.