Employment Transitions 

Regarding transitions between a brokerage firms, a commentator has cautioned: “First, Hire the Lawyers.”  Another listed as one of the top ten reasons broker-dealer transitions fail: “Not hiring an attorney.”

When a financial advisor considers changing brokerage firms (or going independent), a variety of questions can arise:

  • How can I most successfully move my book of clients?
  • Can I take the names, addresses and phone numbers of my clients?
  • What about their Social Security numbers?
  • Can I contact my clients to let them know I am moving?
  • Will my old firm try to stop me from competing?
  • What if my old firm sues my new firm or tries to get a TRO (court order) against me?
  • Will I have to repay my promissory notes to my old firm?
  • Can I pay less than the full amount due on my promissory notes?
  • How should I give notice of my resignation?
  • What information can I take with me?
  • What about my personal property?
  • What can I tell my clients before I leave?
  • What can I tell my clients once I am at my new firm?
  • Will the “Protocol” apply?  How does the Protocol work?
  • What does my contract or offer from my new firm mean and how does it work?
  • What can I do if my former firm submits harmful information on my Form U5?
  • What other issues can arise?

Having a qualified securities and employment transition lawyer at your side can help you navigate the transition between firms and help avoid costly litigation.

Your job is to concentrate on keeping and building your book of business.  Our job is to guide you through the process so you can do exactly that.

Moulton, Wilson & Arney, LLP is experienced in advising financial advisors and registered investment advisors how to move between firms.   We can help with any securities broker transition issues, including those involving the Protocol for Broker Recruiting.  We offer strategic support to individuals in the financial, securities and investment industries.

Our firm has experience advising registered representatives regarding:

  • Protocol for Broker Recruiting
  • Intellectual Property Issues
  • Promissory Note claims
  • Form U5 Expungement
  • Temporary Restraining Orders (TRO)
  • State and federal securities laws, rules, regulations and requirements
  • Contract negotiation and review, including:
    • Employment Agreements
    • Retention Packages and Severance Agreements
    • Deferred Compensation Agreements
    • Training Agreements
    • Promissory Note Claims
    • Bonus Agreements
    • Employee Forgivable Loans (EFLs)
    • Team/Joint Production Agreements
    • Non-Compete Agreements
    • Non-Solicitation Agreements
    • Non-Disclosure Agreements
    • Confidentiality Agreements
    • Partnership Agreements
    • Stock Option and Stock Share Agreements

We serve financial advisors nationwide in securities and employment law.

Contact Moulton, Wilson & Arney, LLP for a free initial consultation.