More Than 70 Teams and Solo Producers Have Changed Firms Since July 1st

Posted on October 9th, 2018 at 1:44 PM
More Than 70 Teams and Solo Producers Have Changed Firms Since July 1st

From the Desk of Jim Eccleston at Eccleston Law LLC:

Aggressive recruiting on behalf of regional brokerages has led to an uptick in advisors leaving wirehouses. Since July 1st alone, more than 70 teams and solo producers have changed firms.

Some firms have benefited more active than others. For instance, Stifel Nicolaus has been successful in recruiting advisors from wirehouses such as Wells Fargo and Merrill Lynch. Notably, Stifel has added a former Wells Fargo team that managed $400 million in assets.

Many other significant changes have occurred as well. For example, Wells Fargo lost a $1 billion team to Raymond James. Dynasty Financial Partners, another independent firm, was able to secure a $1 billion team from Merrill Lynch. 

The attorneys at Eccleston Law assist financial advisors nationwide in their employment transitions, negotiate their transition agreements (including employment agreements and forgivable loans), and defend reps in arbitration and litigation whether or not their firms are members of the Protocol for Broker Recruiting.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, brokerage firms, recruiting

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