Prime Capital Financial announced its addition of advisor Brendan Kenny on Thursday, but he joins amid a temporary restraining order preventing Prime from contacting his former clients at Edelman Financial Engines.
A federal judge in Delaware ordered on Monday that the TRO will be in place until a preliminary injunction hearing set for May 22. Kenny was most recently executive director of financial planning at Edelman before he resigned from the mega-RIA on May 8, and now finds himself tangled in a dispute that originated with Edelman suing Prime in November 2025 for deploying a "playbook" to poach roughly 40 advisors and $1.5 billion in client assets.
“Prime Capital is hereby temporarily enjoined and restrained from, directly or indirectly, initiating contact with, or otherwise soliciting or inducing (directly or indirectly) any Edelman client with whom Kenny worked while employed by Edelman,” U.S. District Judge Maryellen Noreika wrote in this week’s ruling.
This week’s TRO is the second granted to Edelman in its case against Prime, following the court order in March to prevent Philadelphia-based Prime Capital advisors Joan Greenspon and Amanda Salyer from soliciting clients who they previously worked with at Edelman.
“Given the repeated nature of Prime Capital’s conduct and the substantial risk of irreparable harm posed to Edelman, as well as the burden on the Court resulting from repeated emergency motion practice, to the extent Prime Capital hires any more Edelman financial planners prior to the conclusion of this lawsuit, Prime Capital may not unilaterally contact the clients that the departing financial planner serviced at Edelman,” ruled Judge Noreika.
Kansas-based Prime Capital Financial manages about $40 billion in client assets. Kenny, who is based in Connecticut, had been registered with Edelman since 2013, according to SEC records. In Prime Capital Financial’s announcement of Kenny’s addition on May 14, their press release mentions Kenny’s previous roles at Morgan Stanley, UBS, Smith Barney, and Fidelity Investments but does not name Edelman.
After the most recent court ruling on May 11, a spokesperson for Prime Capital Financial sent the following statement to InvestmentNews, accusing Edelman of “acting anticompetitively."
“Prime Capital Financial respects the Court and the process. Yesterday's ruling relied solely on Edelman's account (presentation of the situation). We believe that as all the facts surrounding this case come to light, both the court and the public will see that Prime Capital Financial has acted ethically, prioritizing clients' and financial advisors' interests, and that Edelman Financial Engines is acting anticompetitively by making false accusations and prioritizing its own interests over clients' interests.”
Kenny is Certified in Blockchain and Digital Assets (CBDA), which is issued by the Digital Assets Council of Financial Professionals, the cryptocurrency education platform started by RIA industry icon Ric Edelman, who founded Edelman Financial Services in 1986.
“We look forward to the opportunity to present our facts and arguments at the earliest appropriate time, and we remain committed to complying with the Court’s orders while this matter proceeds,” said Prime Capital Financial.
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