Wednesday, December 18, 2013

Reviewing Broker Transition Agreements

With rising markets, and increase trailing twelves, more and more advisers are changing firms in the hopes of a better environment for themselves and their clients. Unfortunately, far too many advisers believe that their agreements with their new firm are non-negotiable, and do not retain an attorney to review the agreements.

Fortunately, this is not true, and virtually every agreement has room for negogiation, regardless of the broker's production level. Obviously there is more that can be done for larger teams, but every transition package should be reviewed by an attorney.

We provide such reviews and negotiations for brokers with every major wirehouse, and small and mid-sized firms across the country. We provide those services on a flat fee basis, and work with our client's former firm, and new firm, to provide a smooth transition for the broker, and the clients.

Brokers and advisers are changing firms on a near daily basis. Just today there are reports that BNY Mellon is building out its wealth management team in Chicago, Seattle and Palm Beach Gardens, Fla. According to Financial Planning magazine, the firm hired three directors in Chicago, three advisers in Seattle, and added advisers in  Palm Beach Gardens,

For more information - BNY Mellon Expands Wealth Management Team in Key Markets | Financial Planning

The attorneys at Sallah Astarita & Cox include veteran securities attorneys. We represent firms and advisers of all sizes, across the country, in compliance, regulatory and litigation matters. For more information contact Mark Astarita at 212-509-6544 or at email us