Why Advisors Should Seek Specialized Counsel When Making a Business Transition
Why Advisors Should Seek Specialized Counsel When Making a Business Transition

Much in the same way clients depend on your proven expertise to help meet their investment goals, advisors should seek and rely on the value that only specialized legal counsel can provide when mulling the transition to a new firm or the start of a new business.

The global pandemic accelerated the evolution of how and where people work. If you’ve decided to join the millions who have welcomed the opportunity for meaningful professional change, it’s essential you prepare and handle your next move with the same care you use with your clients’ portfolios.    

Whether you’ve decided to change firms or start your own business, Jacko Law Group can help you turn the page with confidence by focusing on such aspects as Form U-5 disclosures and navigating restrictive contractual covenants in the form of confidentiality, non-compete and/or non-solicitation agreements or provisions. Such matters exceed the scope employment and Human Resources specialists and demand attention from counsel familiar with securities laws.

Our experienced team has helped many advisors sidestep common pitfalls and avoid unnecessary legal risks during the transition process. Having a customized legal plan in place before you make a move is imperative, regardless of whether you’re leaving a Broker Protocol or non-Broker Protocol firm, since litigation can result from not adhering to the regulatory framework involved.

If you’re changing firms, we can advise on best practices and strategize on when it comes to how and when to inform your clients of your move. Instead of risking costly legal action by informing clients of your pending move, Jacko Law Group can develop a post-move client-retention communication plan to help you articulate how investors may benefit by moving assets to your new firm.

Starting or acquiring a business comes with a lengthy list of legal needs, such as drafting contracts and letters-of-intent, creating a compliance program customized to your business, determining what kind of business entity you should use, performing rigorous due diligence, creating succession plan documents, and ensuring your business continuity program meets regulatory requirements.

Above all, don’t make a professional move as part of a hasty knee-jerk reaction.  Carefully consider the pros and cons of making a move and give yourself ample time – about 90 days – to discuss your unique needs with our specialists at Jacko Law Group to help ensure a seamless transition.

Once you’ve made your decision and retained counsel, you’ll be better equipped to avoid the emotional temptation to burn bridges when you resign or wrongly download client records and other computer files before you walk out the door.

Many people resist change because of the inherent challenges involved. But change is constant. And it can be very rewarding. Let the experienced team at Jacko Law Group tend to the specialized legal nuances of your move so you can focus on what you do best. Contact us at (619) 298-2880 or visit us online at jackolg.com to schedule a consultation so you can confidently prepare for your next career chapter.

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