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

06:30

Police are appealing for information following a burglary in Exmouth.

Read more
Yesterday, 18:30

There’s still time to discover toys that are not only educational but have a serious adult message.

Read more
Yesterday, 12:30

A binge drinker has been fined for stealing perfume.

Read more
Yesterday, 12:01

Fire crews were called out this morning (Thursday) to reports of a fire at a home in Rolle Street.

Read more
Yesterday, 10:50

Warnings of a potential nature and wildlife ‘catastrophe’ have prompted a motion calling for Devon County Council (DCC) to take action ‘before it is too late’.

Read more
Yesterday, 10:30

Exmouth motorists have been given a stark warning of the dangers of drink-driving, after a car involved in a fatal collision went on display.

Read more
Yesterday, 06:30

An Exmouth community group, which helps the unemployed find work, has been targeted by thieves.

Read more
Wed, 13:30

Images showing a semi-naked woman straddling a dinosaur model in an act of ‘gross indecency’ in Exmouth has sparked anger and disgust, prompting police to investigate

Read more
Wed, 12:30

A Lions golf day held in Budleigh Salterton has raised more than £3,000 for an appeal to provide children with better swimming facilities.

Read more
Wed, 09:37

Volunteers are being sought to help with this year’s Poppy Appeal.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 14°C

min temp: 12°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

Local business directory

Exmouth's trusted business finder

HOT JOBS

Show Job Lists


Find planning applications