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by Mike Caswell

Investors Group Financial Services Inc. has filed a lawsuit in the Supreme Court of British Columbia against a group of employees that defected to other firms in 2022 and 2023. The lawsuit claims that group took their clients with them, and in doing so breached agreements that they had with Investors Group. The group owes a combined $1.72-million in payments related to those clients, Investors Group says.

The allegations are contained in a notice of claim that Investors Group filed on Friday, April 26, at the Vancouver courthouse. The defendants are a group of employees who left for Harbourfront Wealth Management and another firm, Vela Wealth. The suit names them as Ryan Brink, Erin Magee, Trevor Miller, David Eng, Hayden Bissoondatt and Kevin Parton, who left Investors Group on dates between June, 2022, and October, 2023.

According to the suit, the group took at least some of their clients with them, and in doing so breached agreements that they had with Investors Group. Unlike many other broker defection lawsuits, Investors Group is not claiming that the clients belonged to the firm. In its suit, Investors Group says that the departing employees had entered into agreements with the firm when they acquired the clients, and that they have failed to make payments that are due under those agreements.

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