Morgan Stanley is suing advisor Lonnie Friedman, who left to hitch LPL Monetary, accusing him of violating nonsolication agreements.
Friedman has allegedly used shopper contact data that he took with him to ask traders to switch their accounts, telling them he can scale back their charges, the corporate says in its March 8 lawsuit filed in a federal courtroom in Pennsylvania. The Harrisburg-based advisor has informed at the least one shopper that Morgan Stanley fees “hidden charges,” the corporate alleges.
Friedman…
