JPMorgan Seeks Court Order Against Former Rep Who Set Up Shop Across the Street

Core Viewpoint - JPMorgan Chase is seeking legal intervention to prevent a former advisor, Kevin Sercia, from allegedly breaching his employment contract by soliciting former clients after joining LPL Financial [1]. Group 1: Legal Action and Allegations - JPMorgan has filed a request for a temporary restraining order in Florida federal court, claiming Sercia solicited over 30 households with approximately $22 million in assets [2]. - The bank alleges that Sercia accessed about 175 client profiles on JPMorgan's Advisor Central System shortly before resigning, suggesting he intended to contact these clients after moving to LPL Financial [4][5]. - Sercia is accused of operating under the name "Lighthouse Private Wealth," which was formed as an LPL-affiliated firm, and strategically placing signs outside the JPMorgan branch to attract clients [6][7]. Group 2: Employment Contract and Non-Solicitation Agreement - Sercia allegedly signed a non-solicitation agreement that prohibited him from soliciting JPMorgan clients for 12 months after leaving the firm [3]. - Bank branch advisors, like Sercia, typically have more stringent terms in their employment contracts compared to other advisors, as they do not usually create their own books of business [8].