Financial advisor used LinkedIn to poach clients from former employer

A financial advisor who made contact with clients of his former employer via networking website LinkedIn has been fined for breaking the terms of his non-competition contract, the Brabants Dagblad reports.

Tiel district court ruled earlier that asset management group Quarz is entitled to €115,000 in compensation. The company then sequestered the man’s possessions in order to ensure payment.
On Wednesday, Hans van Poppel asked another judge to overturn the sequestration order.
He denies using LinkedIn to approach Quarz’ clients. Instead, Van Poppel says he used the website as a digital cv which brought him into contact with them.
Quarz was alerted to the situation by clients.
The two sides have settled the dispute, with Van Poppel agreeing to pay €25,000 in compensation and part of the legal costs. The sequestration order will be put on ice as soon as that sum has been paid, the paper says.

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