Securities Employment Attorneys
As securities attorneys, employment law is a natural part of our practice. Since our main practice areas are corporate litigation and broker-dealer issues, it is a surprise to learn that our attorneys also provide unparalleled representation of industry professionals and broker-dealers in their employment related agreements, litigation, and arbitrations.
Our representation is nationwide. Whether we are representing the firm, a registered representative or an employee, our experience provides the ability to understand, appreciate, and address the issues that arise in the employment relationship, including the hiring process, the workplace and employment termination issues, whether voluntary, or involuntary.
Stock Broker Employment Agreements
During their careers, the our partners have represented well over 100 brokerage firms and hundreds of financial professionals in their regulatory, litigation and employment issues. Our experience and knowledge of this highly specialized area of employment law enables us to provide guidance and assistance, to firms as well as professionals, in the negotiation of compensation packages and upfront loans, as well as severance agreements, promissory note settlements and restructuring, and non-compete waivers.
We have negotiated broker compensation and separation agreements for individuals with every major Wall Street firm, and have done the same from the firm side for numerous small and mid-size firms. The use of upfront bonuses, or employee forgivable loans, as inducements and compensation for a broker to change firms, has a series of issues, pitfalls and dangers, for the firm, and for the broker. This experience, coupled with a continual monitoring of legal decision and trends enables our firm to effectively negotiate securities employment agreements for our clients.
Broker Transition to Investment Advisor
As the financial world changes, so does the relationship of brokers and clients. We are increasingly involved in assisting brokers and teams of brokers in leaving the FINRA regulated world and becoming registered investment advisors. While there are significant business advantages to becoming an RIA, the transition from a brokerage firm to an investment advisory firm involves its own unique set of issues, and an entirely different regulatory environment, with different regulators, and different rules. As more and more professionals realize the advantages of using a fee-based model for the benefit of their clients, they realize the advantage of leaving the brokerage world and moving to the investment advisory side of the business. Mr. Astarita has been at the forefront of this move away from commission business and the overwhelming regulatory environment and has helped transition brokers to advisors for decades.
Stock Broker Employment Termination
Our experience in the negotiation of employment contract and loan agreements provides the foundation for the negotiation and resolution of the termination of those agreements. The termination of the broker-firm relationship involves a host of issues, including wrongful termination, non-compete and non-solicitation agreements, compliance with the Broker Recruiting Protocol, repayment of upfront loans, EFLs and promissory notes, as well as U-5 defamation and related issues.
If the employment relationship does not go as planned, we provide representation and counsel in post-employment disputes, including severance agreements, re-negotiation of promissory notes and non-compete agreements, as well as ongoing counsel in post-termination investigations by FINRA and the SEC, and in litigation over the employer-employee relationship.
Sometimes the employment relationship simply does not work to everyone’s satisfaction. Our securities attorneys’ extensive experience in post-termination issues include the prosecution and defense of claims involving wrongful termination of employment, sexual harassment, retaliatory discharge, promissory notes and forgivable loans, non-compete and non-solicitation agreements, and defamation claims related to U-4 and U-5 forms.
Comprehensive and Experienced Representation
All parties in the securities employment relationship need to be represented in employment disputes by experienced securities employment attorneys who not only understands employment law, but also securities law, and the arbitration process. Our attorneys have that unique combination of skill sets to enable our firm to successfully represent parties in all aspects of securities employment law.