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Jan 12, 2012 10:02 pm

Kresge

Joined: 2011-12-26Offline

Hey guys I just wanted to get your thoughts on how a FA goes about switching firms with their book when their current wirehouse has an existing no contact agreement. 

Any personal stories would be greatly appreciated.

Feb 17, 2012 1:10 pm

Bearish

Joined: 2012-02-15Offline

Contact them after the agreement expires. 

Feb 17, 2012 2:39 pm

Amber_M

Joined: 2011-12-26Offline

I wasn't with a wirehouse but was still covered by a non-contact agreement when I left a few years back.

I was a CFP at the time I left and sent a letter to all my clients saying something like "As a CFP I am required under CFP Code#(whatever) to inform you of my new contact info......"

The old firm sent me a nasty letter to which I replied "I'm only following the CFP rules.  if you don't like them, sue the CFP Board."  That was the last I heard from the old firm.

Then my clients had my info and I waited until they called me.

Amber