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Towry Law claims court order against ex-Ed Jones’ advisers

Towry Law has been granted a court injunction against Raymond James Investment Services Limited and six former Edward Jones financial advisers who have joined RJIS.

Towry Law is bringing a court case against RJIS and the advisers which alleges soliciting customers and a conspiracy to injure Edward Jones Limited.

On Wednesday last week, Towry Law announced it had been granted a interim injunction, with a court case set to be heard some time after mid-July.

In October last year, Towry Law bought the UK subsidiary of the US adviser and investment firm Edward Jones for £1.

At a court hearing on March 31, the advisers agreed to abide by the terms of their contract with Towry Law.

An RJIS spokeswoman says: “RJIS and the six advisers deny the allegations.

At a hearing on March 31, the court approved the terms of an order to which all parties consented and the advisers confirmed they will continue to abide by their restrictive covenants. It also sets a timetable which will allow RJIS and the advisers to defend themselves against claims they believe to be without foundation.”

Towry Law chief executive Andrew Fisher says: “We will take every action available to us to protect the interests of our shareholders and clients. The contracts signed by the ex-Edward Jones advisers clearly state they are not able to solicit our clients for relevant business.”

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