Vast Experience

A move by a stockbroker / financial advisor from one broker-dealer to another can carry with it the risk of an expensive multi-faceted litigation which can begin with an emergency request for injunctive relief in a state or federal court and end with a multi-session FINRA arbitration hearing. From handling hundreds of such matters throughout the last two decades, the financial services litigation attorneys at West, Edwards & Associates have direct experience addressing the key issues which are involved in such matters:

  • Whether the move involves broker-dealers that are signatories to the Broker Recruitment Protocol.
  • Whether any of the broker-dealers involved have filed side letters attempting to clarify the extent of involvement in the Protocol.
  • Whether the non-solicitation, confidentiality, and / or non-compete clauses at issue are potentially unenforceable in the jurisdiction involved and/or under the law applicable to the agreement at issue.
  • Whether a potential raiding claim may exist.
  • Whether there may have been violations of any ancillary statutes such as those relating to trade secrets, computer fraud and abuse, or confidentiality of customer financial information.
  • Whether certain aspects of the applicable employment agreement or other agreement at issue may be void as against public policy.
  • Whether the stockbroker / financial advisor has switched broker-dealers before and, if so, what the broker-dealer he is leaving encouraged him to do at the time he joined them.
  • Whether there are any team agreements or retiring stockbroker/financial advisor agreements involved.

From Many Perspectives

With experience both as outside counsel directly litigating these matters and as in-house counsel advising branch managers and regional managers on the relative merits of different courses of action, the attorneys at West, Edwards & Associates offer clients the unique capability to approach these matters mindful of both the necessary steps to implement a successful legal strategy and the practical concerns and issues being faced by in-house counsel and branch managers. They seek effective legal strategies for their clients that make business sense.

Diligent and Conscientious Counsel from Experienced & Trusted Attorneys

When faced with the myriad of legal issues surrounding stockbroker / financial advisor recruitment and departure contact the experienced Baltimore financial services litigation attorneys at West, Edwards & Associates, LLC to discuss your matter in complete confidence, today. They offer the experience and sophistication of a large law office combined with the exceptional personal attention found at a small firm.