Non-compete considerations: from broker to wholesaler

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Apr 4, 2012 4:16 pm

I resigned from Ed Jones after two years because the business model just wasn't a good fit for me.  Without planning to rejoin the industry, an opportunity presented itself to become a mutual fund wholesaler. 

Three years have not yet elapsed since I began at Ed Jones, so I'm concerned about implications of my non-compete.  Will I still be considered "competing" even though I'm not working for a brokerage firm?  Obviously I'll be calling on brokers from many different firms, so the new position could be considered indirect competing, I suppose.

Apr 5, 2012 1:44 pm

Doesn't the non-compete clause explicitly detail what "competing" is?  If not, it doesn't seem like a very sound contract to begin with, thus, would not hold validity in the court of law.