If you are a registered representative or broker who is moving from one broker-dealer, private bank, or registered investment advisor to another broker-dealer, private bank, or registered investment advisor, you will likely need an experienced attorney to help you navigate your transition. Whether your move is governed by the Protocol for Broker Recruiting (“Broker Protocol”) or is a non-Broker-Protocol matter, Levin Law can help you. Our financial industry employment attorneys have extensive experience handling legal matters related to the securities and broker-dealer industry for registered representatives. If you are considering leaving your current broker-dealer, private bank, or registered investment advisor, we can help you with the transition to another financial institution. And if you have already left your broker-dealer, private bank, or registered investment advisor and are going to be subject to legal action from your prior employer, we will defend you in such claims and evaluate whether you may bring affirmative claims as well.
Beginning in 2004, many broker-dealers signed on to the agreement called the Protocol for Broker Recruiting. For employees of Broker Protocol members, the agreement allows financial advisors to leave one Broker Protocol member firm for another Broker Protocol firm or other financial institutions, if they follow the requirements set forth in Broker Protocol without the repercussions of legal action taken against them by their former employers. If brokers follow the requirements of Broker Protocol, such individuals may take certain client information with them as they transition to a new financial institution, setting out rules about when and how they may contact their customers. By complying with the rules of Broker Protocol, brokers can act without the threat of restraining orders or lawsuits from the broker’s former employer.
If you are planning to transition from one firm to another under Broker Protocol, Levin Law can help you navigate this process. We can help you negotiate new contracts as well as ensure that you are in compliance with Broker Protocol rules so as to avoid litigation and arbitration claims against you. If you have already encountered legal problems associated with your transition to a new firm, our seasoned Miami securities industry employment attorneys offer effective, efficient, and aggressive advocacy. As experienced litigators, we will work vigorously to help you obtain the best possible outcome.
If you are transitioning from a non-Broker-Protocol firm, your move may still be subject to the terms of a contract with your former employer. You may be legally restricted from bringing certain client information with you.
As you plan a transition, you should consult with a knowledgeable attorney every step of the way to avoid legal pitfalls. Our attorneys can work to ensure that your transition goes smoothly and with the best possible terms in your new location.
If you are facing potential litigation, we offer highly-qualified legal guidance. Our ultimate priority is to seek what is in your best interests while providing you with thorough and thoughtful legal direction throughout every phase of the legal process.