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In the News

Warning for Wirehouse FAs: So-Called Sunset Agreements Aren’t Always in Your Best Interest

Posted by Mindy Diamond

By Mindy Diamond and Shirl Penney

It’s no secret that wirehouse firms want to keep their advisors captive. Protocol departures, shoring up non-solicitation agreements, deferring compensation, and mandating garden leave for those who choose to move to a competitor are strategies designed to stave off attrition.

And, taking things another step further, more than ever, these firms are encouraging advisors — young and old — to sign on to their succession programs. This is essentially asking advisors to commit the next decade or more to the firm — selling off their businesses and clients at the same time.

Read more…

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About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

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