Minneapolis, MN commercial litigation attorney Jesse Kibort talks about the types of cases he handles for banks and other financial institutions. Most of the professional’s cases involve defending or representing broker-dealers, financial advisors, and fund managers. They provide defense for funds and broker-dealers when employees leave, often addressing issues related to non-compete and non-solicitation agreements. The professional has also defended broker-dealers accused of “raiding,” a practice in which an entire department shifts to another large broker-dealer.

This strategy is common among major firms, which grow by acquiring groups or teams from competing broker-dealers. Consequently, this creates tension, as broker-dealers generally do not welcome the departure of an entire group along with significant assets under management.