BOK Financial Sues Advisor Over Client Transfers
The Arizona lawsuit alleges former advisor Eric Holt and a colleague moved about $1.2 billion in client assets to Cerity Partners.
Updated on Nov. 2, 2026 in Financial Planning
BOK Financial Private Wealth sued former advisor Eric Holt, former client service manager Ashleigh Zielinski, and Cerity Partners in Arizona federal court. The firm alleges clients with up to $1.2 billion in assets under management followed Holt and Zielinski to Cerity.
Why it matters
The case highlights how restrictive covenants such as non-solicitation agreements and client data confidentiality rules are enforced when advisors change firms. For clients in the Scottsdale area and beyond, it shows how advisor moves can prompt account transfers across firms.
The figures come from the complaint's allegations, with BOK Financial alleging about $1.2 billion in client assets moved against a firm total of roughly $3.72 billion under management. Cerity has received transfer paperwork for more than 20 client relationships, and whether all of those transfers will be completed remains unresolved.
The players
BOK Financial Private Wealth
The wealth management arm of BOK Financial, a Tulsa-based financial services company that manages several billion dollars in assets.
Cerity Partners
An independent wealth management firm that received transfer paperwork for more than 20 client relationships from the departing advisors.
Eric Holt
A former BOK Financial advisor named in the lawsuit, who allegedly moved clients to Cerity Partners.
Ashleigh Zielinski
A former BOK Financial client service manager named in the lawsuit for allegedly coordinating client relationships before resigning.
The details
BOK Financial alleges Holt used a business trip it financed to lay the groundwork for transferring clients to Cerity, and that he visited a $400 million client in Omaha, Neb., who became one of the first to follow him. Holt and Zielinski allegedly signed non-solicitation and client data confidentiality agreements, and Holt gave a 30-day resignation notice while continuing to solicit clients.
Timeline
October 2018: Holt joined BOK Financial after the firm acquired his Colorado practice.
2023: Zielinski joined BOK Financial to coordinate Holt's client relationships.
August 2025: Zielinski resigned without notice, and Holt gave a 30-day resignation notice.
Market Dynamics
The dispute follows a wider pattern in which advisor teams carrying client books move between independent and broker-dealer platforms, and firms respond by enforcing non-solicitation agreements. The parallel lawsuit by Cetera against former advisor Michelle Lee over Sapphire Compass Advisors shows the same enforcement approach playing out in a separate case.
Clients who work with a departing advisor may be asked to sign new account paperwork and can choose whether to follow the advisor to a new firm. Reviewing account transfer forms and asking about fees before moving assets helps protect a household's savings.
The takeaway
Before following an advisor to a new firm, review the transfer paperwork, understand any fees or surrender charges, and confirm how your assets will be held. Asking questions early keeps the decision in your hands.
Further reading
For more on managing advisor and wealth transitions, see Financial Planning coverage.
