A California financial advisor has been hit with a lawsuit by his former firm for allegedly poaching clients, Financial Advisor reports.
Chicago-based Cresset Capital Management filed suit in the U.S. District Court for the Northern District of Illinois against Travis Henry, who worked as a managing director in the firm’s sports and entertainment division before resigning last month to join his own RIA, Factor Capital. Henry was accused of breach of employment contract and tortious interference.
Cresset alleges that Henry spent the weeks leading up to his resignation reaching out to clients and co-workers and soliciting them to take their business to Factor, then increased those efforts after leaving the firm.
The lawsuit claims that at least 16 Cresset clients and four of its employees reported that Henry contacted them prior or immediately following his resignation to solicit their business. He is accused of violating 12-month non-solicitation covenants that prohibit him from recruiting or soliciting company clients.
“Henry’s breaches were intentional and undertaken for his own benefit and to the detriment of Cresset,” the lawsuit said.
Cresset is seeking a temporary restraining order in federal court and preliminary injunction to stop the advisor from further solicitation efforts.
Henry, who joined the firm in May 2023 as a wealth advisor, tried to “raid Cresset’s business from within”, the lawsuit claims.
The lawsuit claimed Henry applied for an investment advisor registration for Factory Capital the same day he resigned from Cresset. But according to the suit, the application showed that before his May 8 resignation he “had been building and leading Factory Capital for weeks” while still at Cresset, as he “had already assumed the titles of Head of Factory Capital LLC and Chief Compliance Officer as of April 2026.”
Henry could not be reached for comment, it was reported.
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