Suit against financial services firm alleges age discrimination

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It’s hard enough to get ahead in business without a factor beyond our control getting in our way. There are several factors that we choose, such as faith or hairstyle, along with many we do not that may change an employer’s view of us. Fortunately, California does not allow managers to make hiring and firing decisions based on these factors. Attorneys can help protect the rights of workers suffering from discrimination.

The intellectual economy centered around the Golden State’s tech sector allows for many types of people to make a valuable contribution to products, services and their communities. California law ensures that disabilities or other drawbacks unrelated to the performance of a job are not a reason for dismissal or other damage to a person’s career.

A broker with a large financial services firm is fighting back after his responsibilities were removed and not reinstated. The 72-year-old man was dealing with the results of a serious medical procedure when he accepted a temporary demotion until he was medically cleared to resume his duties.

His lawsuit claims that his accounts were permanently reassigned to a younger broker and he was forced to remain in a position with less productivity and lower pay. Although gender and race discrimination have been more widespread in the financial services industry than age discrimination, attorneys are preparing for an uptick in cases involving ageism.

“The average age keeps creeping up, so I would expect there to be more of these cases in the future,” said an attorney representing brokerage firms. A study shows the average age of brokers in this line of work is already above 50 years, which means that he may very well be correct — and there may be more cases like this in the future.