Former Employee Claims Wealth Enhancement Discriminated Against Her During PregnancyFormer Employee Claims Wealth Enhancement Discriminated Against Her During Pregnancy
Amy Fox joined the firm in 2022 as a transition support client specialist. However, according to the lawsuit, she was treated “less favorably” after she became pregnant in 2023.
A former Wealth Enhancement employee alleged her superior at the firm discriminated against her during a high-risk pregnancy and that the firm unfairly fired her after her return to work, according to a recently filed lawsuit.
Amy Fox filed the complaint against the firm in Pennsylvania federal court, noting she was hired in July 2022 as a transition support client specialist.
According to Fox’s LinkedIn profile, she helped advisor teams with client paperwork and account setup, reviewed account records for accuracy and coordinated requests with advisors, operations “and all corporate teams.”
In late June or early July 2023, Fox told the firm she was pregnant, according to the suit. She subsequently told her immediate supervisor, Operations Specialist Nicole Parsons, that she couldn’t attend an optional work trip because of her immune-compromised condition and her pregnancy.
According to the suit, Fox developed pregnancy-related health complications due to her auto-immune disease and missed several days of work. According to Fox, Parsons met with her in early September to question “her commitment to the team.”
Parsons purportedly told Fox to use paid time off for medical appointments, which Fox said was contrary to the firm's practice of allowing exempt employees to attend medical appointments without PTO as long as they were out of work less than half a day.
Fox allegedly went to HR, which affirmed her view. Still, Parsons reportedly refused to approve the request.
“Instead, for the first time ever, Parsons advised HR that (Fox) was ‘underperforming,’” the suit read. “In turn, HR notified (Fox) that the policy on taking time off for medical appointments without using PTO did not apply to (Fox) because she was ‘underperforming.’”
In October, Fox told HR that she felt Parsons was “discriminating against her because of her pregnancy and retaliating against her” because of her need for accommodations related to her pregnancy. HR allegedly told Fox it would investigate the complaint, but after she requested numerous updates, they said Fox should discuss her concerns directly with Parsons.
Fox gave birth on Dec. 8, 2023 after needing to take several days off before her maternity leave due to her mother-in-law’s death, according to the suit. During Fox’s maternity leave, Parsons allegedly posted an unfavorable performance review in the firm’s system, which Fox said she only found when logging on to get information on an interview for another position in the company.
According to the suit, Fox returned on March 4, and Parsons scheduled a performance review for April 3. Fox requested to talk to an HR representative about her accusations of discriminatory treatment and have a rep attend the performance review. Fox claimed that HR assigned her to a new representative, who said they’d contact her.
Fox said Wealth Enhancement fired her on April 9 before she heard from HR.
“During the termination hearing, (Wealth Enhancement) pointed out that (Fox) was an at-will employee and said that where (Fox) wanted to go in her career did not align with the position,” the suit read.
But Fox claimed she’d been treated “less favorably” than non-pregnant employees and argued that “at least one other Transition Support Client Specialist who reported to Parsons did not reach the goals set by Parsons and was not terminated.”
A Wealth Enhancement spokesperson said they were “unable to comment on pending litigation.”
Earlier this month, Wealth Enhancement (formerly Wealth Enhancement Group) made its first acquisition of the year with Capstone Wealth Advisors, a $618 million RIA in the Pacific Northwest. This boosted Wealth Enhancement’s assets above $102.7 billion.
The firm also made 15 deals in 2024 18 in 2023, 14 in 2022 and 16 in 2021.
The Minneapolis-based RIA’s acquisitions are partly fueled by private equity firms Onex Partners and TA Associates, both of which have stakes in the firm. In June, it disaffiliated from LPL Financial after 17 years with the broker/dealer.
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