Definitely keep it simple. Also, near the bottom of the page, slightly smaller add “This is not for solicitation purposes” or something to that effect.

When you follow up with a phone call, i have a funny feeling that might be considered a solicitation.

SFB,

Hi Omar! I think SFB might be right…You may want to check out your current employment agreement, I know of a case where an advisor left one firm went to another contacted their clients and whammo! the old firm slapped the new firm with a lawsuit for soliciting clients. Cost the new firm $100K.

I would think a personal visit over a phone call may produce better results for your top-shelf clients. That is if they don’t already know…

Set up a seminar, send invites to 1000 people, and somehow make sure your clients end up on that list.

I didn’t call after I sent out my announcement. As soon as they call you and say, “What the hell?!”, then you are free to call them.

Nothing wrong with sending an announcement with general info saying you are now with XYZ firm and contact info, etc. The key is to follow up with a phone call and give the client the 3 options:

1. Stay

2. Move with you

3. Go elsewhere



If you give the options, ultimately it is the client’s choice!

Omar,
I would start the lip service right now.  Talk with your best clients and the ones you think are dedicated to you not the bank.  Let them know about how you are disappointed by the way the bank screwed up the acqusition of  ML or whatever and then mention that you may need to contemplate other options because you’re tired of having to apologize about your company every other day.  Anyway, when the client  makes the comment “Omar, If you ever decide to leave, I’m going with you”  you reply by saying “Client, you’ll be the first one I call”.  Repeat for the clients you really want.  The day you resign, is the day you call these people.
 Then send a letter to the other 250 accounts after you leave.  They won’t come with you because they are bank-brainwashed or you really don’t want them in your book anyway.

Good luck.

KLC,

Omar, you need to send what is called a tombstone letter.  It simply announces that you have left and gives your new contact information.  While my old firm attempted to call that solicitation when another ex used it, they didn’t get anywhere with that claim.  Most judges are used to the simple tombstone and do not see it as solicitation…that’s my impression at least.  Listen to what your new firm and/or your attorney is advisiong here and you should be fine.  The fact that you are already getting the kind of unsolicited feedback that you are from your clients tells me that the time is ripe for a move.  If you decide to contact clients, proceed with caution.  I understand what you are saying about that not being in writing, but leaving a message is just like putting it in writing IMO.  Also, the wrong client who is bent out of shape with you can always swear in an affidavit that you called them asking for business after you left.

Thanks to everyone for the feedback. 

Omar,

I left a wire 2 months ago  I sent out the wedding style announcement,
but two hours after i resigned i was seeing clients and getting
paperwork done. Dont know what wire you are with, but most of them have
enough problems without spending time going after FA’s leaving, unless
there are extenuating circumstances. They never bothered me.



I spoke to an attorney about joining the protocol (my own corp), but he
said it would be a waste of money, the wires have lost a number of
court cases recently where it was ruled that just because a firm is not
protocol doesnt mean they can work by diff rules than the protocol
firms. The spirit of the protocol is to protect the client and that
should hold no matter what.

Dont consider this legal advice, i am far from an expert. But talk to a
good attorney, i was scared sh*tless, but it turned out to be much less
of a big deal than i thought. Just be careful who you talk to, what you
print, etc.

SFB,

Omar, what Indy firm are you going with?