A federal judge granted Edward Jones’ request for a temporary restraining order against two of its former brokers, ordering the duo not to solicit or attempt to solicit any of the firm’s clients.
The dispute arose after advisors Debra Feaser and Michael Eisenbraun moved to Ameriprise’s employee channel from Edward Jones on Nov. 2.
Edward Jones
Judge Pamela Chen granted the firm’s request while the two sides hash out the dispute in FINRA arbitration.
Judge Chen also ordered the advisors not to solicit any Edward Jones employees to terminate their employment with the firm.
CEO Ron Kruszewski received praise for leading the firm's wealth management unit to a record for revenue, despite costly legal setbacks.
As Vice President, Underwriting Research and Development, Jackie Waas is involved in investigating and developing underwriting innovations, with an emphasis on concept development, research, presenting new ideas, and participating in concept validation activities.
She started her career with RGA in 2018 as Director of Underwriting Services, where she supported direct-to-consumer accelerated offerings, including assisting with the auditing of the e-underwriting program and helping develop digital health scores while supporting the Digital Health Data team.
Prior to joining RGA, Jackie was an Underwriting Business Consultant and automated underwriting systems subject matter expert with Legal & General America for four years after working in an underwriting capacity with the company for nine years. She also had five years of underwriting experience with AXA Equitable and formerly worked as a marketing manager for Steele Rubber Products.
Jackie received a Bachelor of Arts with a major in communications and a minor in psychology from Lenoir-Rhyne University in North Carolina. She is a Certified Fellow of the Academy of Life Underwriting, a Fellow of the Life Management Institute, and a Fellow of the Financial Services Institute. She is also an Associate, Reinsurance Administration; Associate, Insurance Agency Administration; and an Associate, Insurance Regulatory Compliance. Jackie also holds the Professional, Customer Service Institute designation, and she is a member of the Association of Home Office Underwriters.
Guizhou Hu is Vice President, VP, Head of Risk Analytics at RGA, where he supports global RGA underwriting initiatives and produces internal and external thought leadership pieces based on RGA's in-depth risk analytics. Before joining RGA in 2018, Guizhou served as Vice President, Chief Decision Analytics, for Gen Re and as a Senior Vice President for BioSignia Inc. Guizhou holds a medical degree from Beijing Medical University and a Ph.D. in Philosophy from Cornell University.
But while Edward Jones got its non-solicit request, the judge’s order permits the advisors to speak with clients who have already transferred assets and to accept new transfers of assets from Edward Jones clients.
The two advisors oversaw more than $150 million in assets, Edward Jones said in its lawsuit. (An Ameriprise spokeswoman said they oversaw $215 million). Edward Jones says client assets of approximately $19 million have already transferred over to rival Ameriprise.
A spokeswoman for Ameriprise said the firm and the advisors had no comment on the matter. An Edward Jones spokesman also declined to comment.
Neither the brokers nor their attorney could be reached for comment.
Feaser is an advisor of 24 years and she had been with Edward Jones since 2003, according to FINRA BrokerCheck records. Eisenbraun began his career at the firm two years ago.
Edward Jones is not a member of the Broker Protocol, an industry pact that permits advisors switching firms to take basic client contact information with them. The firm has more than 14,000 brokers in the U.S.
