About Financial Advisor Transitions

When you are considering changing firms, you want to know that your clients will remain your clients. In a rapidly changing securities industry, seasoned advisors know that the fight for assets is on. 

As lawyers who have practiced exclusively in the securities space for decades, we have seen too many tragedies that could have been avoided with the proper guidance and planning. We have met too many financial advisors who have lost their entire practice due to poorly planned transitions, unfulfilled promises, or a wrongful termination (to name a few).  

Finding a firm that will reduce your most important needs to writing is imperative. Being aware of potential regulatory issues is equally important to ensure a successful transition. Many Wall Street firms are pulling out of the Protocol for Broker Recruiting, yet may be willing to agree to certain protections in your favor. Independent and hybrid firms are flourishing, yet often attempt to water down your rights, including those who claim to have agreed to the Protocol for Broker Recruiting. And RIA firms are increasingly popular, yet may have the most restrictive employment agreements among all of the players in the securities industry. Let us help you navigate the ever-changing and challenging waters.

Importantly, the average headhunter does not care, and the average recruiter is completely unaware of those issues. The firm with the biggest offer is not always the firm where your practice will be safe. You need to know all of your options. Let us help you identify your next destination, and ensure that you retain ownership of your clients and are successful for years to come.