Marriage of Finby

166 Cal. Rptr. 3d 305 (2013)

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Marriage of Finby

California Court of Appeal
166 Cal. Rptr. 3d 305 (2013)

SC

Facts

Mark Finby and Rhonda Finby were married. Rhonda was a financial advisor for UBS Financial Services. Rhonda’s investment clients had invested over $192 million with her. Rhonda obtained this book of business during her marriage to Mark. In 2008, Rhonda’s clients generated over $1.8 million in fees and commissions for UBS. In 2009, Rhonda agreed to move from UBS to Wachovia Securities LLC. Wachovia gave Rhonda a transitional bonus of over $2.8 million for bringing her book of business to the new firm. The bonus, although paid out immediately, was contingent on Rhonda hitting certain minimum earnings targets and staying with the company for 10 years. Mark and Rhonda separated in 2010, and Mark claimed a property interest in Rhonda’s book of business and transfer bonus. The trial court ruled that Rhonda’s book of business had no value and that Mark had no interest in it. Mark appealed.

Rule of Law

Issue

Holding and Reasoning (Rylaarsdam, J.)

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California Community Property

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