Lawsuit Filed Against Osaic Over Alleged Primerica Branch Raid

Primerica claims Osaic Wealth raided its West Virginia branch, paying cash to acquire six advisors and taking their client data. Primerica sued in Gwinnett County, Georgia, alleging the departures were coordinated and involved the transfer of customer investments to Osaic. A Georgia appeals court vacated a trial court injunction that had blocked Osaic Wealth and Legacy Investment Advisors from using confidential client information claimed to be stolen.

The dispute involves allegations of advisor poaching and the unauthorized transfer of confidential customer account data between two competing financial firms. The legal proceedings challenge Osaic's business practices and the operational integrity of Primerica.