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Financial Service Industry Professionals

Our Team at Lax & Neville LLP represent financial service industry professionals in all matters that may affect them professionally. Our firm has a history of success advising financial services industry professionals on employment, regulatory, and business matters, including, but not limited to the following :

  • Broker/Advisor Transitions and Protocol Issues: Our firm has guided hundreds of industry professionals and teams through the transition process, including some of the largest producers or teams in the industry. We are experienced in negotiating employment agreements, recruiting packages, including promisorry note bonus agreements, and restrictive covenants, including non-soliciations, “Garden Leave” provisions and non-competes. We protect brokers’ rights and records as they transition to new firms, regardless of whether their old and new firms are members of the Protocol for Broker Recruiting.

  • Promissory Note Settlement and Negotiation: Our attorneys advise registered representatives in all areas of the transition process, including negotiating promissory note balances that may be outstanding to their old firm when a broker transitions to a new firm.

  • Succession Exit Planning Deal Structures: Financial advisors who are looking to protect their book of business should have a succession plan in place in order to protect against unforeseen events and plan for retirement. Our attorneys at Lax & Neville LLP have advised numerous registered representatives on the succession plan that works best for their goals.

  • Regulatory Investigations and Enforcement Defense: Our attorneys routinely represent broker-dealers, financial advisors and registered investment advisors in regulatory investigations and enforcement proceedings brought forth by government regulators including the Securites and Exchange Commission, the Commodity Futures Trading Commission, and the Office of the Attorney General. Additionally, we represent industry professionals investigated by self-regulatory organizations and exchanges like the Financial Industry Regulatory Authority and the National Futures Association.

  • U-4/U-5 Expungements: Maintaining a clean record with the CRD is essential for all financial services professionals. We understand the value and importance of your license and professional reputation. We represent registered representatives in negotiating Form U-4 and Form U-5 language with firms prior to filing, or in arbitrations seeking expungement of Form U-4s and U-5s containing false and defamatory information.

  • Expert Witness/Consulting Services: Our team at Lax & Neville provide expert witness or consulting services regarding industry standards including the general procedures and practices of a broker-dealer that relate to the sale and/or purchase of a registered representative/financial advisor's book of business and the recruiting and retention of a registered representative/financial advisor’s book of business.

  • Financial, Securities, and Investment Professional Severance Agreements: Our team of lawyers represents employees in reviewing their severance agreements and have successfully negotiated with former employers to increase the severance pay being offered.

  • Employment and Independent Contractor Agreement Negotiation and Drafting: Our attorneys work with financial services firms and financial services professionals to draft, review, and negotiate the terms of both employment agreements and independent contractor agreements.

Representing financial services industry professional requires a deep understanding of industry practices, rules and regulations, and analytical skills allowing our attorneys to assess all of the potential risks, costs, benefits and disadvantages of a particular strategy and look a step ahead towards each possible outcome in a negotiation. Because of the large volume of these matters that our firm handles, we negotiate with all the wirehouses on a frequent basis and have longstanding relationships with most in-house counsel or outside counsel used by their firms. We also routinely help advisors move from wirehouses to the independent channel and can assist with all the necessary legal documents such a change requires. Our industry contacts frequently prove invaluable in what sometimes can be a fast-moving and stressful process for registered representatives. Our attorneys have the skills and experience which allows us to work towards an effective and satisfactory resolution for our clients. Our team has a reputation for successful advocacy and is ready to protect your interests.

Contact the attorneys of Lax & Neville LLP for a free consultation with an experienced financial service industry lawyer. 

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