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 his non-solicitation agreement by contacting clients after resigning. Dusablon, who managed a client book worth over $400 million, 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 clients who reported unsolicited contact. One client stated Dusablon discussed his reasons for leaving TIAA and offered his services at his new firm. TIAA asserts claims for breach of contract, breach of the duty of loyalty, and unfair competition. The insurer is seeking an injunction, compensatory and punitive damages, liquidated damages, and attorneys' fees. The case highlights the wealth management industry's strict enforcement of client protection clauses. The allegations remain unproven in court as Dusablon has not yet responded to the filing. This legal action serves as a warning to financial advisors regarding the consequences of violating non-compete and non-solicitation agreements when transitioning between firms.
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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 his non-solicitation agreement by contacting clients after resigning. Dusablon, who managed a client book worth over $400 million, 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 clients who reported unsolicited contact. One client stated Dusablon discussed his reasons for leaving TIAA and offered his services at his new firm. TIAA asserts claims for breach of contract, breach of the duty of loyalty, and unfair competition. The insurer is seeking an injunction, compensatory and punitive damages, liquidated damages, and attorneys' fees. The case highlights the wealth management industry's strict enforcement of client protection clauses. The allegations remain unproven in court as Dusablon has not yet responded to the filing. This legal action serves as a warning to financial advisors regarding the consequences of violating non-compete and non-solicitation agreements when transitioning between firms.
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