A lawsuit has been filed in California Superior Court in connection with a dispute between Perigon Wealth Management and one of its former partners, according to an AdvisorHub report.
The complaint details Perigon’s allegations against Bryce R. Brown, stating that he joined the firm in May 2023 as part of a deal in which a received a seven-figure equity stake and hundreds of thousands of dollars in cash. He had previously been a partner at Burleson & Company.
According to Perigon, Brown’s equity units fully vested in May 2026. The suit contends he then registered a competing practice, Treasury West, while still employed and used confidential client information to solicit customers. It was alleged that he bought a billboard advertising the practice and rented office space for it while still working at Perigon.
Perigon said it fired Brown in September over multiple issues, including an unauthorized attempt to bind the firm to a multiyear, six-figure contract with a third-party. He then announced he was leaving for Treasury West, which is affiliated with Penserra Wealth Management, and another Perigon advisor departed to join him. The lawsuit states that clients then reported receiving unsolicited, pre-filled authorization forms listing Penserra as their advisor.
Brown is named in the lawsuit along with Treasury West and Penserra Wealth Management, where he is now registered. Perigon claims their conduct could cost it more than $1 million in annual revenue.
Perigon is seeking $1 million in compensatory damages, punitive damages and an injunction barring further solicitation and requiring the return of any confidential client information.
Brown told AdvisorHub that he plans to file a counterclaim and that he was fired after he demanded access to the firm’s books and financial records over concerns about its financial health.
A lawyer for Perigon said the lawsuit “speaks for itself.” “We intend to vigorously pursue this legal action, have every confidence that the facts support our case, and we will prevail before the court,” a Perigon spokesperson stated.
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