Steward Partners Attracts Reps

Posted on April 21st, 2017 at 10:48 AM
Steward Partners Attracts Reps

From the Desk of Jim Eccleston at Eccleston Law LLC:

Steward Partners is an employee-owned, independent partnership associated with Raymond James. Steward Partners’ association with Raymond James allows it to use the firm’s platform and technology in its daily operations.

Although there is a unique appeal for reps to be supported by Raymond James and also have certain autonomy to do business, there are also downsides to this type of model. For example, Steward Partners is not an RIA and some reps joining the firm are likely to deal with certain issues such as partnership dilution.

Steward Partners’ recruitment deal to reps consists of an upfront cash payment up to 100% and up to 100% in equity. All proposed deals are negotiable and reflected in numerous agreements such as promissory note and employment agreements.

Reps should retain qualified legal counsel to review those documents in advance of committing to transition to a new firm.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, 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: Eccleston, Eccleston Law, James Eccleston, Eccleston Law LLC

Return to Archive

TESTIMONIALS

Previous
Next

The work that you and your team have performed on my behalf is exemplary.

JT

LATEST NEWS AND ARTICLES

July 26, 2024
Kentucky Advisor Sues LPL Financial for Alleged Corporate Raid

A Kentucky advisor, Mark Lamkin, has filed a lawsuit against LPL Financial, claiming the independent broker-dealer orchestrated a corporate raid that resulted in the loss of his firm’s entire book of managed assets.

July 25, 2024
FINRA Plans Fee Increases Amid Rising Costs and Losses

The Financial Industry Regulatory Authority (FINRA) has announced plans to raise fees for its approximately 3,300 broker-dealer member firms. According to AdvisorHub, the self-regulator faces soaring costs, as detailed in its annual report published at the end of June.

July 24, 2024
Raymond James Settles with Oregon Over Excessive Commissions

Raymond James recently settled a case with Oregon's Division of Financial Regulation (“DFR”), agreeing to pay nearly $200,000 over allegations of charging excessive commissions to retail investors.