The regulator called her breaches minor, but her bank fired her for cause anyway
A financial planner fired for cause by one of Canada's largest banks has won her wrongful dismissal case after a judge found the bank manufactured misconduct to force out a top performer it had no grounds to dismiss.
Royal Bank of Canada and Royal Mutual Funds Inc. must pay their former financial planner more than $2.6 million, Justice Casullo of the Ontario Superior Court of Justice ruled in a decision released June 30, 2026. The award covered 16 months' notice worth $313,333, $1,919,272 for lost earning capacity, $150,000 in aggravated damages and $250,000 in punitive damages.
Royal Bank of Canada and Royal Mutual Funds Inc. must pay their former financial planner more than $2.6 million, Justice Casullo of the Ontario Superior Court of Justice ruled in a decision released June 30, 2026. The award covered 16 months' notice worth $313,333, $1,919,272 for lost earning capacity, $150,000 in aggravated damages and $250,000 in punitive damages.
The planner had spent nearly 12 years with the bank and was, by management's own recognition, a standout. She ranked first in the Greater Toronto Area and third nationally, and her book of business was valued at $150 million. Trouble began after a 2016 branch transfer, when she resisted handing off high-net-worth clients she believed her new market could not replace.
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