Financial Advisor Account Transition Policy &
Acknowledgment for the Recruiting Protocol
Welcome to ‘New Firm” and congratulations on your decision to join our culture of excellence. As a new member of our team of world-class Financial Advisors, you have committed to providing your clients with the highest quality of products and the highest standards of service. This policy sets forth the firm’s expectations regarding the transition of clients to [New Firm] from any other broker-dealer. In keeping with the firm’s code of conduct and related policies, it is the firm’s expectation that you will conduct yourself throughout your transition and afterwards in a professional manner acting at all times in the best interests of your clients and with due regard for any obligations or commitments you may have to any prior employer.
In connection with your transition to [New Firm], the firm expects that you will retain only the following account information for those clients whom you serviced at your prior employer: client name, address, phone number, email address and account title.
Under no circumstances may you retain originals or copies of any other client-related information or documents. Specifically, you may not bring any of the following to [New Firm]:
• Account Statements
• Account Numbers
• Social Security Numbers
• Client Files
• Copies of notes
• Electronically stored client-related data or documents that exceed
what is permitted above.
• Computer programs developed by or for any other employer whether on disc,
CDROM, or other format.
Team or Partnership Agreements Involving Protocol Firms
If you are joining [New Firm] from a competitor firm which is a member of the Broker Recruiting Protocol and you were a member of a team or partnership in a producing capacity at your prior employer:
The terms of the team/partnership agreement govern which information you may maintain; provided, however, that you may maintain information (as set forth above) on those clients which you introduced to the team/partnership.
In the absence of a team/partnership written agreement, if you were a member of the team/partnership in a producing capacity for less than 4 years, you may maintain client information and solicit only those clients that you introduced to the team/partnership.
In the absence of a team/partnership written agreement, if you have been a member of the team/partnership in a producing capacity for 4 years or more, you may maintain client information and solicit all clients serviced by the team/partnership.