The legal nuances behind making a move to a new firm partner intimidate many an advisor, but it’s time to move past that block. In this first episode in Advisor Talk’s Legal Perspective Series, Elite Consulting Partners CEO Frank LaRosa is joined by Brian Neville, Founding Partner of Lax & Neville, to provide insight and context to listeners as to best legal practices when making a transition.
In particular, this episode focuses on client solicitations when making a move. Topics covered by Frank and Brian include:
1. Understanding your employment agreement, its restrictions, and how these can impact a transitioning advisor.
2. The importance of knowing before your move the policies of the firm you are transitioning to, as well as the firm you are moving from.
3. What to do and what not to do when soliciting clients after your move.
Making a move to a new firm partner is one of the most important decisions a financial advisor will ever make, both from a career and a financial perspective. Informed legal counsel as part of that process is imperative. Listen and learn from Frank and Brian and then put their guidance into action.