Cary Street Partners prevails in arbitration with Edelman Financial Services
The firm had sought over $3 million from former retirement plan division executive R.J. Reibel over claims he violated a non-solicitation clause in his contract. Edelman Financial Services’ dispute with one of its former executives has ended up with the firm being ordered to pay out $160,000 in compensatory damages.
A panel of Financial Industry Regulatory Authority (Finra) arbitrators ruled against the RIA after it tried to win a permanent injunction against its onetime manager of retirement plans, R.J. Reibel. Reibel now works as a vice president of RIA Cary Street Partners’ corporate benefits and retirement division. He left Edelman in April of 2018.