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The Bedminster-based firm with about 240 advisors was introduced to LPL during the acquisition of Atria Wealth Solutions earlier this year.

The lawsuit, which seeks a class action, was filed in New York federal court last week. It follows similar suits brought against UBS, Ameriprise and LPL Financial.

According to the federal complaint calling for a class action, the firm’s policies “maximize profits for UBS while at the same time disregarding its clients’ best interests.”

The Securities Industry and Financial Markets Association filed a lawsuit against the regulation that took effect last year, saying there was “no precedent for it in the securities laws.”

Advocates say RIAs have little to worry about, yet one opponent accused the DOL of waging an “ideological crusade” and said he’d recommend litigation to his board.

Edelman Financial Engines is fighting Mariner’s motion to dismiss its lawsuit. In a new filing, Edelman argues that Mariner gets “free rides” off of its competitors.

Mariner asked a federal court to pause Edelman Financial Engines' trade-secret lawsuit during an ongoing arbitration process. Edelman says that would only let Mariner continue raiding its advisors and clients "with impunity."