Core Points - UBS is suing a $1.1 billion advisory team that left for RBC, alleging they are breaching non-solicitation agreements [1][2] - The advisors are accused of orchestrating a scheme to unlawfully solicit UBS's most lucrative clients, particularly those with high asset values [2][5] - UBS claims the advisors signed non-solicitation agreements that cover virtually all of their UBS clients, with restrictions lasting until the end of 2027 [4] Summary by Sections - **Legal Action**: UBS filed for a temporary restraining order against advisors Jonathan Modiano, Adam Jones, and Mark Steinberg in Michigan federal court [1] - **Client Solicitation Allegations**: UBS alleges that the advisors planned their resignations to facilitate the removal of physical documents and have been soliciting legacy clients to transfer their accounts to RBC [2][5] - **Background of Advisors**: Modiano and Jones have been with UBS since 2003 and 2011, respectively, while Steinberg registered in 2000 and previously worked at Merrill Lynch [2] - **Legacy Client Program**: The advisors were part of a program allowing them to inherit clients from retiring advisors, receiving payments based on revenues from these accounts for five years post-retirement [3] - **Non-Solicitation Agreements**: UBS states that the advisors signed agreements restricting solicitation of clients and UBS employees, with time frames ranging from one year post-employment to the end of 2027 [4] - **Resignation Details**: The advisors allegedly resigned en masse on September 25, using identical notices and immediately began working for RBC [5] - **Post-Resignation Activity**: UBS claims to have received multiple calls from clients requesting materials to transfer assets shortly after the advisors' resignations, including a significant transfer request for a legacy account trust worth over $270 million [6]