East Devon stockbroker ‘vindicated’

12:28 21 February 2012

Pieter Burger.

Pieter Burger.

Julian Hall Photography

High Court finds in his favour. Pieter Burger says his life was ‘on hold’ for nearly two years.

AN East Devon stockbroker says he feels vindicated after a High Court judge ruled in his favour.

Pieter Burger, 48, a former executive member of Honiton and District Chamber of Commerce and Industry, was one of seven wealth managers sued by financial advisers Towry.

Towry instigated court action after it took over business Edward Jones Investments, which formerly had an office in Honiton.

It was alleged that Mr Burger broke a clause in restrictive covenants when he took clients with him to Raymond James Investment Services.

Towry said the covenants barred Mr Burger from contacting his former clients for up to 12 months.

But, at the end of a five-week case in the High Court, the Honourable Mrs Justice Cox DBE ruled against Towry in all seven cases and ordered the firm to pay costs on indemnity, which has been described by legal experts as “rare”.

“After nearly two years, I feel vindicated,” Mr Burger told the Midweek Herald.

“My life has been on hold and I was worried I was being judged by other professionals. It was a huge stopper of life.”

Mr Burger says the court action was a double-edged sword.

“In many respects, I’m honoured that so many of my clients wanted to continue with my services,” he said.

“But you’ve got to be up-front with people when you’ve got something quite controversial hanging over you.

“I had to withdraw from many things, because how could my voice say anything with the court case pending?”

During the run-up to the court case, Mr Burger, a former secretary of the East Devon Federation of Small Businesses, found the time to study and was awarded chartered status with the Chartered Institute of Securities and Investments and passed the Level 6 CISI Private Client Investment and Advice Management Paper, known as the PCIAM.

His career as a financial planner and stockbroker spans more than a decade and he says he now wants to concentrate on creating “superior investment propositions” .

He said: “My pleasure is helping people understand investments, because investing should be fun, really enjoyable, and not an area of concern.”

Mr Burger can be contacted on 01404 598168.

0 comments

Other News Stories

12:30

Shoppers in Exmouth were being offered free hugs by two women who wanted to ‘smile and laugh’ with people.

Read more
06:30

Exmouth has seen a 20 per cent increase in recycling with a new collection scheme.

Read more
Yesterday, 16:00

It’s Pancake Day on Tuesday, February 28, and we want to know what Devon’s favourite pancake topping is. Sweet, savoury or both? Decide in our poll here...

Read more
Yesterday, 13:16

Lympstone Primary school children were put through their paces when the Marines barked out their instructions to

Read more
Yesterday, 12:30

Police have received reports of ‘several’ thefts from vehicles parked in isolated beauty spots and car parks near Budleigh Salterton and Woodbury.

Read more
Yesterday, 11:59

Lurcher Beau, aged six, has spent the last three years at Dogs Trust Ilfracombe and watched more than 1,000 dogs find their forever home while he has been overlooked. Can you give him the home he deserves?

Read more
Yesterday, 11:18

Sidmouth protesters among those arguing against ‘draconian’ changes that they say have ‘left retirement plans in tatters’

Read more
Yesterday, 10:00

Panters, a family-run business which first opened 123 years ago, is set for an emotional farewell as it closes its final store in Exmouth.

Read more
Yesterday, 06:30

Police have warned Exmouth residents not to hand out bank details to a ‘pushy’ bogus caller.

Read more
Thu, 18:32

The Budleigh Salterton Carnival Club fundraiser is fast approaching.

Read more

Local Weather

Overcast

Overcast

max temp: 10°C

min temp: 8°C

Most Read News

Useful Links

Advertise in the Paper
Submit a Story
Subscriptions Order
Competitions
Photo Orders
Family notices
iwitness24
Google Plus
Facebook
Twitter
Reader Travel

Family Notices 24

Read Online

Image
Read the Exmouth Journal e-edition E-edition

Newsletter Sign Up

Sign up to receive our regular email newsletter

Local business directory

Exmouth's trusted business finder

HOT JOBS

Show Job Lists


Find planning applications