Bankruptcy
Oct 4, 2008 3:56 pm
Anybody know what the deal is if a financial advisor files bankrupcty? Does it bar you from the industry?
Oct 4, 2008 5:31 pm
I do not think so. I recently xfered a client and his broker had a bankruptcy on his record.(Though he was Primerica and that could make a difference)
Oct 4, 2008 5:58 pm
The answer is “no”.
Oct 5, 2008 11:08 am
It doesn’t bar you from the industry, although it is a required U4 disclosure which may result in some firms electing not to take the liability. That being said, I know reps at major wires (or what were major wires a couple weeks ago…) who have a BK.
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