Asset Protection: Protect your clients
When compliance issues threaten the business you've built, it pays to be assertive and protect your clients and income.
You have little control over how your firm will react when compliance issues come to light. You can make sure you have a back-up plan for where to move your business and clients.
"The secret of change is to focus all your energy not on fighting the old, but on building the new.” - Socrates
Our Mission:
"Before 30 Days"
You're in a panic...
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You have received a sudden termination notice from your firm - you're not alone. Many long-tenured registered representatives with relatively “clean” backgrounds have been on the receiving end of such a surprise, often undocumented, notice. And, some of these advisors have found themselves faced, often day or weeks later, with regulatory reports from their former firm that contain inaccurate termination language. With prompt and effective responsive action, advisors have overcome this situation and moved forward with their careers.
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Don’t let this situation turn into barriers to employment with a new firm. It’s critical that you work quickly to develop an action strategy to effectively respond. If you want your business – and your life – to get back to any sense of “normal” again, speed and experience must be key components of your strategy.
AVOID THE FOUR MOST COMMON MISTAKES
DON'T WAIT
The time to act is now. If you are recently terminated and deciding how to get your career back on track – or if you are currently employed with compliance challenge – don’t waste time spinning your wheels. Take control of your situation. Now is the time to engage quality compliance and legal advice to help you navigate the challenges ahead. The sooner you take effective action, the better. Every day you procrastinate is potentially another day away from your clients. In our experience, every week you remain unlicensed means you could lose 10% of your assets or more. The sooner you take control of your situation, the higher the likelihood of a favorable outcome.
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DON'T GO IT ALONE
For most advisors, dealing with compliance or termination challenge is unfamiliar territory. Some advisors are tempted to "go it alone" in the hope their existing knowledge will do. Unfortunately, your road to new employment comes with pitfalls completely different than anything you may have experienced - especially given the fast-changing regulatory environment. In our experience, negotiations with your prior firm are always best managed by competent and experienced legal representation. Let Clearpoint help you build your winning team.
HIRE THE RIGHT ATTORNEY
Most advisors have learned to rely on a long-established network of contacts. You may have relationships with attorneys who you trust. However, your current situation demands advice of a legal specialist. FINRA and SEC employment law is a narrow legal specialty. From negotiation of your U5 language to clearing the hurtles of bureaucracy and arbitration process, a single misstep might derail getting your livelihood back. Ask Clearpoint for a legal referral - now, today.
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DON'T TRUST YOUR OLD "PLAN B"
In the past, you may have prior industry contacts with recruiters or branch managers that have vetted your business and perhaps made you offers of employment. Unfortunately, that was “in the past.” Your current compliance challenges or termination will greatly complicate, or may put an end to, your past discussions and prior plans. Moreover, it may take weeks or months to follow up with prior contacts – time you likely can’t afford. A recruiting firm that specializes in advisors with compliance challenges can broaden your opportunities to obtain an offer that is right for you. Cast a wide net with an experienced team to get the best results.
OUR 4-STEP PROCESS
CALL FOR A CONFIDENTIAL ASSESSMENT
Once we understand the scope of your compliance challenge, we will start the process of providing any legal referral you may need - qualified legal representation is job one! Once we have assured that you have a qualified attorney, we will begin the work of assessing your business needs and begin outlining a strategy for presenting you to potential brokerage and advisory firms that meet your needs.
BUILD A COMPREHENSIVE PLAN
The first key to presenting your business to potential business partners is completing our assessment of your business needs and compliance situation. With details in hand, our compliance staff will work with you to create an independent risk assessment and supervision plan to present to any firms that are interested in considering your business. Our comprehensive compliance and supervision packet will provide the original basis for firms to consider your employment.
EXPLORE YOUR OPTIONS
Every financial advisor has different needs that must be met in order to assure success. Similarly, every financial firm has different standards and tolerances for compliance challenges - what one firm may be unable to accommodate, another firm may have available resources to support. The key is getting you in front of the best firm we feel can help you get back up and running as quickly as possible.
GET BACK ON TRACK!
Our ultimate goal is to get you back up and running as soon as possible. Ideally, we can find you a new brokerage or advisory firm within the first few weeks or even days. In our experience, an independent risk assessment and heightened supervision plan is the best way to get the attention of potential firms & help streamline the hiring process. Although every situation is different, our mission is the same: Get your job back "Within 30 days" whenever possible!
The prudent advisor will try to anticipate the reaction of the current firm and be ready to move your business and clients away from any drama. Protect your business and clients first!
CONTACT US TODAY
If you have questions, we have answers. Call or email today for a no-obligation assessment of you compliance situation and access to resources to help you put your career back on track.
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telephone: 425-442-2289 email: info@luminae.com