Don't miss a story sign up to Exmouth Journal's FREE daily newsletter CLICK HERE

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

Yesterday, 12:30
Littleham Primary School pupils had a sneak peek of their new spiritual garden which has been created with the help of The Men's Shed and Exmouth In Bloom community groups. Ref exe 18-16AW 5121. Picture: Alex Walton

An Exmouth school is celebrating after having its garden area regenerated.

Read more
Yesterday, 11:30
Dawn Witkiss retires from her post as administrator after 17 years at the Claremont Medical Practice. Ref exe 20-16AW 7767. Picture: Alex Walton

An Exmouth surgery has said goodbye to a member of staff after 17 years in the role.

Read more
Yesterday, 10:00

Exmouth residents are being urged to visit their TSB store and vote for the best piggy bank to raise funds for charity.

Read more
Yesterday, 06:30
Vera Sedgemore celebrated her 100th birthday at the wedding of her grand daughter Claire and her husband Mark Emmins

A woman born and bred in Exmouth has celebrated her 100th birthday surrounded by friends and family.

Read more
Fri, 23:54
Bad Manners at the Exmouth Festival on Friday evening. Ref exe 22-16SH 7002. Picture: Simon Horn.

Pictures: Bad Manners

Read more
Fri, 13:53
Gillian Hipkins receiving her award from County Council chairman councillor Andrew Moulding

A Lympstone woman has been named Devon’s community transport enabler of the year at an awards ceremony.

Read more
Fri, 12:57

A drug user has been jailed after he agreed to stash almost 1,000 ecstasy tablets for a dealer.

Read more
Fri, 12:30
New Mayor of Exmouth Brian Cole (right) with new deputy mayor Jeff Trail.

Councillor Brian Cole has been named as the new Mayor of Exmouth.

Read more
Fri, 10:49
The pompom field in the gardens outside Dray Court on Exmouth's Rolle Road is part of Exmouth's Art Trail, Photo: Paul Strange.

There’s an extraordinary sight on Exmouth’s Rolle Road for the next few days.

Read more
Fri, 10:45

Exmouth and Exeter’s Avocet Line will feature on a government backed website intended to promote the benefits of rail travel.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 19°C

min temp: 11°C

Most Read News

Great British Life

Great British Life

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

Local business directory

Exmouth's trusted business finder

HOT JOBS

Show Job Lists


Find planning applications