I recently left a brokerage house were I was not very sucessful. ( less
than a year in the business and only three in production). I have
another opportunity at another firm. If I pursue it and transfer my
licenses, will the former firm come after me for training costs. I am
not transfering assests.
You need to pull out your contract and read it carefully. If you’re still confused, take it to an attorney. He will better answer your question than anyone here can. Any answer we give you is pure speculation.
Of course I have read the contract and I understand what it means. What
I was curious about is whether anyone has known of anyone who has gone
through this? How agressive are firms when it comes to pursuing
training costs from brokers who move to other firms.
Most firms know this and pick up the tab. At least I know MS does so said the manager I spoke with.