I have heard from folks in the business for several decades that AEFA/IDS at one time was notorious for automatically filing a lawsuit against an advisor as soon as an advisor left, for whatever reason... mostly for intimidation, like the mafia or something.

They claimed it was for various things.  The lawsuits almost never panned out, but it was enough to keep the ex-advisor silent and afraid of retaliation from AEFA.

Has anyone on here seen this firsthand?  Any of these pan out?

I've seen it twice, but both times the person just received threatening mail and that was it.

AEFA is a truly evil organization.  Bad for clients.  Bad for advisors.  thumbsdown








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