Garden Leave and Mandatory Notice Provisions for California Financial Advisors
Your contract says you must give 30, 60, or 90 days’ notice before leaving your brokerage firm or registered investment…
Read MoreBroker Transitions
California Closes the Door on “Stay-or-Pay”
California recently enacted two new statutes—section 16608 of the California Business and Professions Code and section 926 of the California…
Read MoreWhen 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 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 MoreJ.P. Morgan, Schwab Pursue Claims Against Departed Advisors
Another week, and two more temporary restraining orders have been sought against advisors departing J.P. Morgan Securities and Charles Schwab.…
Read MoreFIRMS CONTINUE AGGRESSIVE TACTICS AGAINST DEPARTING ADVISORS BUT FACE OBSTACLES IN CALIFORNIA COURTS
Since Morgan Stanley and others started withdrawing from the Protocol for Broker Recruiting in the fall of 2017, there has…
Read MoreWells Fargo, Ameriprise and Other Independent Firms Up Recruiting Ante
Large up-front, forgivable promissory notes were once the gold standard in financial advisor recruiting. From the early 2000’s through 2017,…
Read MoreFirms Continue Aggressive Tactics Against Departing Advisors
Both Protocol and Non-Protocol firms have continued their sue-first-ask-questions-later litigation strategy against departing advisors, and advisors should be on high…
Read MoreMorgan Stanley Continues Aggressive Litigation Against Departing Advisers Post “Prexit” (Broker Protocol Exit)
It has been almost a year since Morgan Stanley abruptly exited the Protocol for Broker Recruiting (“Protocol”), and in that…
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