Core Viewpoint - UBS has initiated a lawsuit against a team of advisors managing $1.4 billion in assets who recently left to establish Loxahatchee Capital, alleging violations of non-solicitation agreements under the Aspiring Legacy Financial Advisor (ALFA) program [2][5]. Group 1: Lawsuit Details - The lawsuit targets Managing Partner Andrew Plum, partners Thomas Cullen and Taylor Marsh, and Principal Kathleen Burke, with UBS seeking a temporary restraining order and expedited discovery [3]. - UBS claims that virtually all clients serviced by the defendants were subject to non-solicitation restrictions, and the retiring advisors are entitled to payments through 2027 and 2028 [5]. - The team has already transferred $200 million in client assets, which UBS argues is a breach of the agreements [5]. Group 2: ALFA Program Overview - The ALFA program allows advisors to inherit clients from retiring UBS advisors, with retiring advisors receiving payments over five years based on the revenue generated by their accounts [4]. - Advisors inheriting client accounts must sign agreements prohibiting solicitation of those clients for a specified period if they leave UBS [4]. Group 3: Accusations Against the Breakaway Team - UBS accuses the breakaway team of misappropriating confidential client information, including printing over 1,100 pages of client account statements before their departure [6]. - The firm also claims that the new team's representation of their experience is misleading, as the date mentioned on their website refers to a retiring advisor from whom they inherited clients [7]. - UBS asserts that the defendants are not only attempting to take former clients but are also misrepresenting their experience to potential new clients [8].