Protocol: consequences of taking too much info?

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Nov 4, 2009 8:44 pm

What are the consequences of taking too much info from one protocol firm to the next?  If you take printouts showing client and account info, and they catch you, will they just stamp thier feet and slap you with a TRO until you return the info in question?  Can they sue the departing rep for damages?  How ugly does it get? 

 
Not that I would ever think of doing such a thing...
 
I posted this on the Legal Issues forum as well, but thought I would see what kind of responses I got here.
Nov 4, 2009 9:37 pm

How would they ever find out?

Nov 5, 2009 11:45 am

That's why you go electronic, if you can, and update on a regular basis. Even if you have no intention of ever leaving, you never know what the future holds. I've known people to not be prepared and be in the midst of leaving and never recover, and are now out of the business because of it. Protocol lets you take enough info to get a hold of the client by phone and mail, which is really all you need. Sure, it may be easier to know what they have before you do the transfer, but not having the client's statement isn't going to stop a client from following you, if they plan on it. They'll understand that you couldn't take it with you. In addition, following protocol, they MUST give you access to the information. If you're caught doing something stupid, that's your own fault. Printing everyone's statement is just asking for it.   

Nov 5, 2009 11:48 am
mlgone:

Depends.  I saw a big time FA at a major wirehouse (guess which one) get caught printing out statements and they actually fired him on the spot and put yellow tape across his door.  Offices FA's got a good jump on his clients.  I am not kidding either

 
Rumor is some wirehouses actually have software that shows mgmt if you are excessivly printing.  Don't know if it's true but I don't doubt it.




you can see all that from the mail room ..wow

Nov 5, 2009 12:12 pm

i hope to get to the mail room someday.  or janitorial.  being an 22-year old intern's secretary sucks.