Edelman Loses Poached Financial Planners Trade Secrets Suit

Wealth management firm Edelman Financial Engines LLC failed to show the partial client lists taken by 10 poached financial planners to Mariner Wealth Advisors LLC qualified as trade secrets or were improperly acquired, a federal judge said.

Edelman failed to show Mariner advised its new hires to bring clients or information, or that the planners brought more than the memory of their clients’ names with them, the US District Court for the District of Kansas said.

Judge Holly L. Teeter also faulted Edelman for failing to properly back claims in its briefing with citations, misrepresenting evidence, and improperly using errata—meant ...