When Financial Advisors Move: Trade Secrets, Competition, and Transition Risk
Even the most carefully planned advisor transition presents risk. The former firm may seek emergency relief in court within days…
Read MoreFinancial Advisor & Broker Disputes
Proposed Regulation Would Narrow Scope of FINRA’s “Outside Business Activity” Rule
FINRA and the SEC have proposed replacing FINRA Rules 3270 and 3280 with a single new Rule 3290 designed to…
Read MoreThe Department of Labor’s New Independent Contractor Proposal and Its Potential Impact on Independent Financial Advisors
The U.S. Department of Labor has issued a new Notice of Proposed Rulemaking addressing how to determine whether a worker…
Read MoreNavigating the Aftermath: Financial Advisor Terminations and The Form U5
Being fired is never easy, but it is a particularly challenging and uncertain time for licensed financial advisors and their…
Read MoreI Live and Work in California. Am I Bound by the Non-solicitation and Non-compete Clause I Signed With My Employer?
Many employees have faced this situation. You have accepted a new position with a new employer. On your first day,…
Read MoreFA Transition Bonuses On the Rise: What Was Old is New Again
Five years ago, Merrill Lynch, Morgan Stanley, UBS, and other large broker-dealers announced sweeping changes to their compensation policies, including…
Read MoreExpected Presidential Order Likely to Limit Use Of Non-Compete Agreements And The Potential Impact On Broker Transitions
On Wednesday July 7th, the White House announced President Biden intends to issue a Presidential Executive Order limiting the use…
Read MoreFinancial Advisor Update: More Advisors Moving Firms in 2021
After an initial, Covid-induced lull, advisor transitions began picking up steam in late 2020 and now have reached record pace.…
Read MoreFinancial Advisors on the Move Despite the Pandemic
In our March 2020 post, published soon after stay-at-home orders were issued across the country, we hypothesized that the pandemic…
Read MoreTHE BROKER PROTOCOL: NEW TREND EMERGING AS COURTS ALLOW BROKERS TO SERVICE FORMER CLIENTS?
Just last month, Florida federal Judge Tom Barber shot down Wells Fargo’s motion for an emergency temporary restraining order (“TRO”)…
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