On October 20, 2015, Credit Suisse Group AG (“Credit Suisse”) and Wells Fargo & Company (“Wells Fargo”) announced an exclusive recruiting arrangement to provide Credit Suisse financial advisors and their clients in Credit Suisse’s U.S. Domestic Private Banking business an opportunity to transition to Wells Fargo’s brokerage business, Wells Fargo Advisors, LLC (“Wells Fargo Advisors”), by early 2016. If you are a Credit Suisse financial advisor, you will be receiving an Onboarding Agreement confirming the terms of your resignation of employment from Credit Suisse in connection with a potential offer of employment from Wells Fargo Advisors. It is imperative that Credit Suisse financial advisors contact an attorney to review the Onboarding Agreement as it requires that the financial advisor release significant rights and claims, including claims against Credit Suisse for deferred compensation and other claims relating to the financial advisor’s employment with Credit Suisse. In fact, the Onboarding Agreement advises the financial advisor to consult with an attorney before executing the Onboarding Agreement. Lax & Neville LLP has extensive experience and success representing and protecting the interests of financial professionals, including assisting brokers/financial advisors in reviewing recruitment packages and agreements, and counseling the financial advisors of their legal rights surrounding those agreements. Lax & Neville LLP also has successfully transitioned brokers between firms and counseled them through the transition process. Please contact our team of attorneys for a consultation at (212) 696-1999.