The filing stated that Duncan’s communications with clients have been more than just announcing his job change. For example, the complaint said, he set up a meeting with former client, saying only that he had changed offices and not mentioning his new employer. When the client arrived at the new Ameriprise office, Duncan had account transfer paperwork ready to sign, the complaint said.
“Unfortunately, it appears that Duncan’s improper solicitation efforts have proved successful, as approximately 20 JPMorgan households, with assets totaling approximately $24 million, already have transferred their accounts to Duncan at Ameriprise,” the complaint said.
At the time of his departure, Duncan handled about 340 clients with roughly $115 million in assets under management combined, the filing said.