Non-compete considerations: from broker to wholesaler
I resigned from Ed Jones after two years because the business model just wasn't a good fit for me. Without planning to rejoin the industry, an opportunity presented itself to become a mutual fund wholesaler.
Three years have not yet elapsed since I began at Ed Jones, so I'm concerned about implications of my non-compete. Will I still be considered "competing" even though I'm not working for a brokerage firm? Obviously I'll be calling on brokers from many different firms, so the new position could be considered indirect competing, I suppose.
Doesn't the non-compete clause explicitly detail what "competing" is? If not, it doesn't seem like a very sound contract to begin with, thus, would not hold validity in the court of law.