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by Mike Caswell

Ventum Financial Corp. has filed a lawsuit in the Supreme Court of British Columbia against a former employee, Ronald Zwicker, for improperly taking Ventum's clients. According to the suit, Mr. Zwicker sold his book of business to a co-worker before accepting a job at rival Harbourfront Wealth Management Inc. He then began using confidential information to solicit his former clients, the suit claims.

The allegations are contained in a notice of claim that Ventum filed on Jan. 9, 2025, at the Vancouver courthouse. The suit identifies Mr. Zwicker as a Victoria resident who worked for Ventum until July 31, 2024. He and another employee, Vicki Cook, had been equal owners of a book of business, managing retail accounts, the suit states.

According to the suit, Mr. Zwicker began planning to leave Ventum in early 2024. The departure was to be an amicable one, and he signed an agreement in which Ms. Cook would purchase his half of their shared book of business. Ms. Cook was to make two payments (in amounts not specified in the suit). Mr. Zwicker agreed that he would tell clients that he was retiring and that he would "promote the strength of Cook in leading the investment team at Ventum," the suit claims.

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