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, 22:46
Train

All rail lines have now reopened at Vauxhall, following a fire

Read more
Yesterday, 18:30
Exmouth Repair Cafe

The Exmouth Repair Café is back again.

Read more
Yesterday, 17:30
Honiton Christmas lights. Ref mhh 6347-51-15AW. Picture: Alex Walton

The town council will share the fundraising pot - supplied by East Devon District Council and Devon County Council - with Exmouth’s town council.

Read more
Yesterday, 16:50
Still smiling: Sue during her London Marathon run.

Sue Phillips, of Pine Park Road, ran the London Marathon on Sunday, April 24, completed the gruelling run in four hours and 25 minutes.

Read more
Yesterday, 16:40
Natalie Jones. Picture: Michelle Ley

A 31-year-old has been charged with causing the death of Ilfracombe’s Natalie Jones after fatal collision last August.

Read more
Yesterday, 16:00
Budleigh Salterton Male Voice Choir

Budleigh Salterton Male Voice Choir will be performing at All Saints church hall, in All Saints Road, Sidmouth, on Saturday, June 18.

Read more
Yesterday, 15:37
Torrington Mayfair 2016. Pictures: Sarah Howells

Torrington celebrated its annual Mayfair tradition today (Thursday) - view the photos and catch up on the action here.

Read more
Yesterday, 14:42
Ticks on a thumb -  showing  all stages to scale

Tiny blood-sucking creatures can cause serious illness, warn experts

Read more
Yesterday, 13:47

Scott Wilson did not enter a plea when he appeared at a trial preparation hearing by video link from Exeter Prison.

Read more
Yesterday, 12:51

South West Water has confirmed that 128 properties are currently without water in Withycombe.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 12°C

min temp: 9°C

Most Read News

Great British Life

Great British Life

Place a family notice

Family Notices 24

Newsletter Sign Up

Find a job in Devon



Local business directory

Devon's trusted business finder

FFind planning applications