Advisers, first stunned by the magnitude of client losses related to sales of private placements such as Provident Royalties, now face an uncertain future given news that parent company Ameriprise is putting Securities America up for sale.
Concerned advisers want to know how any sale may affect their business, and some advisers aren’t planning to hang around to find out. Advisers considering transition have asked several questions, including whether EFL (employee forgivable loan) balances can be forgiven, and whether their employment agreements contain any provisions that they should consider. They also want to know what protections they can negotiate with their new firms.
We stand ready to assist, both by consulting advisers as to whether they should transition and by serving as their counsel to effectuate a successful transition to a new firm and to negotiate the most favorable employment terms. Contact us for a free consultation.
FinancialCounsel.com, hosted by James J. Eccleston, is a companion website to this blog, along with EcclestonLaw.com. It contains complementary material of general interest to investors and financial services professionals. Investors will find material on securities arbitration to recover investment losses; industry and financial markets intelligence; and strategies for estate planning. Professionals have access to material on broker/adviser registration, regulation, compliance and disciplinary proceedings; industry and financial markets intelligence; strategies for estate planning; and broker/adviser employment litigation and injunctions, including defamation and non-competition/solicitation issues. 
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