Triad Advisors, Atlanta RIA Clash in Court Over Breakaway

Atlanta-based broker-dealer Triad Advisors and its $1.7 AUM RIA subsidiary, the Atlanta Capital Group (ACG), are involved in a legal tit-for-tat over the latter’s desire to break away and form its own broker-dealer.

In October 2016, Triad filed a claim with Finra arbitrators arguing that ACG’s attempts to break away broke a restrictive covenant that bound ACG to Triad for a certain number of years and prevented them from working with third-party broker-dealers.

“As a matter of policy, we do not publicly discuss ongoing legal matters,” said Joseph Kuo, a spokesperson for Triad Advisors, in an e-mailed statement. Triad declined to answer questions or issue further statements on the matter.

Triad’s claim identifies ACG principals David Millican, Jeffrey Shaver and Joseph Young as defendants.

from FA News–atlanta-ria-clash-in-court-over-breakaway-32327.html


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