Skip navigation

Book Transfer before quit

or Register to post new content in the forum



  • 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.
Jan 9, 2009 4:07 pm

Hi All, (I performed search for something like this, found nothing so please post link if exists).

  A couple brokers in my office are about to quit (should quit) in the next couple months. I've read other posts of people mentioning a good way to build a book is to have them transfer accounts to you before they leave.   What are the best ways to approach this in your opinions?   Keep in mind my office is compliance heavy, let alone the firm. What ramifications could come from that?   Word for word explanations are very valuable. Thanks, AWEsome
Jan 9, 2009 5:25 pm

If the broker is still employed, they need the client’s approval.  It’s pretty simple.  But if the client agrees, and the broker agrees, then I don’t see an issue.  Just make sure the broker does not lie to the client.  However, I’m not sure how the BOM would not see the transfer, and wonder what’s going on.