Stockbroker / Financial Advisor Recruitment and Departure

Vast Experience

A move by a stockbroker / financial advisor from one broker-dealer to another can carry with it the risk of an expensive multi-faceted litigation which can begin with an emergency request for injunctive relief in a state or federal court and end with a multi-session FINRA arbitration hearing. From handling hundreds of such matters throughout the last two decades, the financial services litigation attorneys at West & West have direct experience addressing the key issues which are involved in such matters:

  • Whether the move involves broker-dealers that are signatories to the Broker Recruitment Protocol.
  • Whether any of the broker-dealers involved have filed side letters attempting to clarify the extent of involvement in the Protocol.
  • Whether the non-solicitation, confidentiality, and / or non-compete clauses at issue are potentially unenforceable in the jurisdiction involved and/or under the law applicable to the agreement at issue.
  • Whether a potential raiding claim may exist.
  • Whether there may have been violations of any ancillary statutes such as those relating to trade secrets, computer fraud and abuse, or confidentiality of customer financial information.
  • Whether certain aspects of the applicable employment agreement or other agreement at issue may be void as against public policy.
  • Whether the stockbroker / financial advisor has switched broker-dealers before and, if so, what the broker-dealer he is leaving encouraged him to do at the time he joined them.
  • Whether there are any team agreements or retiring stockbroker/financial advisor agreements involved.

From Many Perspectives

With experience both as outside counsel directly litigating these matters and as in-house counsel advising branch managers and regional managers on the relative merits of different courses of action, the attorneys at West & West offer clients the unique capability to approach these matters mindful of both the necessary steps to implement a successful legal strategy and the practical concerns and issues being faced by in-house counsel and branch managers. They seek effective legal strategies for their clients that make business sense.

Diligent and Conscientious Counsel from Experienced and Trusted Attorneys

When faced with the myriad of legal issues surrounding stockbroker / financial advisor recruitment and departure contact the experienced Baltimore financial services litigation attorneys at West & West, LLC to discuss your matter in complete confidence, today. They offer the experience and sophistication of a large law office combined with the exceptional personal attention found at a small firm.