(firms) client to come w/ u when u quit

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May 22, 2006 5:20 pm

I just want to know which brokerage firms allow u to solicit your clients to come w/ u after u are gone. 


does EJ allow?  Pls name them if anyone knows.


I want to make sure before I enter into the industry, thx.

May 22, 2006 5:25 pm

forgot to address, I live in Ontario, Canada, so I would love to know the situation in Ontario, Canada, thx.

May 22, 2006 6:47 pm

You mean in form of a "block transfer" where you can bring your whole book with you?


If that's what you mean, not at EDJ. (stateside or in Canada) Any existing business you have with Jones and you want to bring along, you will need to be careful and color inside the lines of your "do not compete" clause. You can be successful in bringing your book along with you, just don't expect Jones to "hand it over".


Good Luck!

May 23, 2006 1:33 am

Thank you very much Devoted SA.  So, how can u successfully do it to bring the whole book with u?


Can you also tell me if any brokerage firms can allow ppl to do it freely?  I heard some of them do.

May 23, 2006 1:15 pm

GeGe, I've heard some firms offer "block" transfers, but I doubt it would be major wirehouses. (can't say for sure, only been w/ Jones then indy) My guess would be indy firms allow block transfers, since they don't "own" your business.


Successfully bringing along your book from Jones was easy...at least for us.


#1- It has to do with relationship, either you have a relationship with your clients or you don't. Those you do, will follow you, those you don't will stay behind.


#2- We sent a "tombstone" letter the day we quit Jones..."Dear Clients & Friends, I'm pleased to announce I have joined the firm of xyz. My new office will be located at 000 Main St. XYZ firm offers blah blah blah. Best Regards, Joe Schmo"


#3- 24-48 hours after your letter was sent out, you can begin calling your "old" clients to say.."Did you get my letter? What did you think of it? Would you like to see my new office?"


After that it was a peice of cake, to bring our "treasured" clients along...leaving behind the pain in the a*ses.