Fidelity Brokerage Services LLC has secured a temporary retention order (TRO) against former VP Adam Ritter.
On August 21, 2025, Illinois Northern District Court’s honorable Andrea R. Wood administered Fidelity to the order.
Adam Ritter served as Vice President, Financial Advisor to the plaintiff Fidelity Brokerage Services LLC until his resignation on December 19, 2024.
Four months later, in April 2025, Ritter became connected to Fidelity Newedge Capital Group competitors and Cuffit wealth management.
In her complaint, Fidelity claims that before the departure of Fidelity, Ritter has taken or memorizes confidential customer information, including customer names, which he had access to during his employment.
Fidelity claims that Ritter later used this information to rebuild a list of customers and ask for former customers.
Fidelity acknowledges that it currently has any evidence indicating that Ritter is naturally removed electronics or papers. Rather, Fidelity claims Ritter maintained information in memory of.
He further argues that many loyalty clients have reported that they received text messages from Ritter from his departure from the business, confirming that he had their personal phone numbers and was looking for their business.
Fidelity argues that this behavior is a violation of Ritter’s restrictive covenant to bind its agreement, violates the Illinois commercial law law in 1831 et seq.
The court concluded that Fidelity has met the requirements for a Tro.
Consequently, the Court has temporarily fell asleep that temporarily restricts the Ritter by:
- Using, revealing, transmitting or continuing to hold for any purpose, the information contained in the fidelity files regarding Fidelity customers who served or their names became known to him, while working by Fidelity, including, inter alia, names, mailing addresses, mailing addresses, telephone number (excluding the information provided to configure customers, and
- Requesting or causing directly or indirectly, whether alone or in consultation with others, any business by any customer of the loyalty he served or whose name became known to him while in the employment of loyalty.
However, Ritter may continue to serve customers who have already decided to transfer their business to Ritter to Newedge or Proffit as soon as it provides a list of these customers.
Finally, according to the federal rule of civil procedure 65 (c), when a TRO is granted, the moving part must “give security to an amount that the Court considers responsible for paying the expenses and damage suffered by any part found to have been convicted or retained”.
In this case, Ritter suggested a $ 100,000 bond. The court found that the request is reasonable.
Therefore, fidelity is obliged to file a $ 100,000 in court, either cash or guarantee bond, as a security, which is considered sufficient to pay compensation such as Ritter may be entitled to recover as a result of illegal retention.