Goldman Sachs Advisor, 63, Files FINRA Claim Alleging Forced Retirement and Age Bias

Don Lavi spent 20 years building a $1.6 billion book of business at Goldman Sachs. According to a FINRA arbitration claim filed on his behalf, the firm ended his tenure with a 24-hour ultimatum: retire immediately and sign a release of all claims, or be fired.

Lavi, 63, is a San Francisco-based advisor who was recruited by Goldman from Sanford Bernstein & Co. in 2005. The filing, made public on March 18, 2026, alleges age discrimination, wrongful termination, and unlawful withholding of more than $1 million in earned deferred compensation. His counsel, the Dallas-based Rogge Dunn Group, is seeking more than $2 million in damages and $1 million in punitive damages.

The claim describes a sequence that began when Lavi was presented with what the filing calls a "take it or leave it" choice. When he asked Goldman's HR department to see the release and severance documents before deciding, they refused to show them. When he requested additional time, raised concerns about age discrimination, and sought more information, Goldman terminated him days later, according to the filing. The complaint asserts he had received positive reviews throughout his tenure and was never placed on heightened supervision, probation, or a performance-improvement plan.

Rogge Dunn, the attorney representing Lavi, questioned the firm's conduct directly: "If Goldman had nothing to hide, why did it 'hot box' him, forcing him to decide on retirement without disclosing the retirement documents?"

In a separate interview with The Texas Lawbook, Dunn added: "In 35 years of handling FINRA and employment matters I've never seen an employer tell an employee they have to decide whether to accept a severance package or be fired — while refusing to provide the legal documents regarding the severance package for the employee to analyze before the employee has to make such an important, life changing decision."

The filing contends Goldman's actions violated ERISA and California labor laws governing earned wages. Lavi managed roughly $1.2 billion in assets under management within his broader $1.6 billion book, and the claim characterizes the firm's approach as part of a broader pattern of forcing out senior advisers while retaining their client assets.

Rogge Dunn Group has prior history litigating against Goldman in FINRA proceedings. A FINRA panel previously ordered Goldman to pay more than $7.6 million in a case brought by advisors Chris Barra and Luis Sampedro, including $5.2 million in compensatory damages, $2 million in punitive damages, and $100,000 for violating federal military service protections. Dunn has also secured a $2.6 million award against Goldman in 2006 for a broker in the firm's San Francisco office, and a $1 million award in 2008 for a Los Angeles-based broker.

Goldman Sachs did not respond to requests for comment.