Helping Financial Professionals Transition to New Firms

Transitioning employment in the financial services industry requires counsel that can evaluate any potential legal implications so you can properly manage risk and focus on transitioning your clients. If ignored, these risks can turn a simple transition into contested litigation with significant consequences. Obtaining counsel from a qualified attorney should thus be part of any transition. Hyman Cotter PC offers comprehensive and sophisticated counsel to clients nationwide, originating from years of advising financial firms and registered representatives on firm transitions.

If you are looking to move from one firm to another, planning to go open up or join an RIA, looking to sell your firm or grow through acquisition or bringing on new advisors, we have the experience to guide you through the process to protect your interests.

The attorneys at Hyman Cotter PC bring decades of industry experience, having worked for large financial institutions and the SEC. Regardless of whether the transition involves protocol or non-protocol firms, we will properly advise you so that you can focus on your transition. While the goal is always to avoid litigation, if it becomes necessary, we will zealously advocate for you in courts and before arbitration panels nationwide.

Equipped to Handle All Aspects of Your Transition

As a full-service, boutique, securities law firm, we have the resources to assist with all aspects of your transition by counseling you on the following:

• Non-competes and non-solicits
• Garden leaves
• Promissory and forgivable notes
• Other post-employment obligations
• Compliance with the Protocol for Broker Recruiting (if applicable)
• Matters specific to partnerships and teams
• Regulatory disclosures
• Analyzing employment-related agreements provided by the new firm
• Investigating potential employment claims against your current employer, such as breach of contract, misrepresentation, discrimination, expungement and constructive discharge
• Advising on any pending internal investigations with the departing firm
• Analyzing and negotiating Form U4 and Form U5 language with the departing firm
• Post-transition issues, such as improper client retention practices by the departing firm
• Regulatory inquiries or state-specific registration matters arising from your transition
• Post-employment arbitration or litigation involving the departing firm

Whether you are moving to a new firm or looking to form a new one, we will work to limit the risks you face during this transitional period. For more information, contact Hyman Cotter PC at 312-291-4600 or through our online contact form for a free consultation.