TIAA Sues Former Advisor for Allegedly Soliciting Clients from $400M Book
Teachers Insurance and Annuity Association of America (TIAA) has filed a lawsuit against Jesse Dusablon, a former Wealth Management Advisor, alleging he violated a non-solicitation agreement by contacting clients after resigning. Dusablon, who managed a book of over $400 million in client assets, joined competitor MBM Wealth Consultants in March 2026. Despite assuring TIAA in writing that he was not soliciting clients, the firm received complaints from three separate clients who reported being contacted by Dusablon. One client stated he discussed his reasons for leaving TIAA and offered services at his new firm. TIAA asserts claims for breach of contract, breach of duty of loyalty, and unfair competition under New York law. The insurer is seeking an injunction, compensatory and punitive damages, liquidated damages, and attorneys' fees. This case highlights the wealth management industry's strict enforcement of client protection clauses and the legal risks advisors face when transitioning between firms. The allegations remain unproven as Dusablon has not yet responded to the filing.
Wire timeline
TIAA Sues Former Advisor for Allegedly Soliciting Clients from $400M Book
Teachers Insurance and Annuity Association of America (TIAA) has filed a lawsuit against Jesse Dusablon, a former Wealth Management Advisor, alleging he violated a non-solicitation agreement by contacting clients after resigning. Dusablon, who managed a book of over $400 million in client assets, joined competitor MBM Wealth Consultants in March 2026. Despite assuring TIAA in writing that he was not soliciting clients, the firm received complaints from three separate clients who reported being contacted by Dusablon. One client stated he discussed his reasons for leaving TIAA and offered services at his new firm. TIAA asserts claims for breach of contract, breach of duty of loyalty, and unfair competition under New York law. The insurer is seeking an injunction, compensatory and punitive damages, liquidated damages, and attorneys' fees. This case highlights the wealth management industry's strict enforcement of client protection clauses and the legal risks advisors face when transitioning between firms. The allegations remain unproven as Dusablon has not yet responded to the filing.
InvestmentNews