LaSalle Street Securities has published an informative piece entitled, “Top 5 Mistakes to Avoid When Making the Transition to Independence.”
Among the top five mistakes, LaSalle cites not understanding the current financial industry legal landscape. Included are tips to review the current employment agreement and to review with SEC Reg S-P.
Another mistake to avoid is not understanding all fees associated with a transition. LaSalle lists ACAT fees, stock registration fees, penalties and postage.
Finally, make sure that the transition is well-orchestrated. According to LaSalle, a well-orchestrated transition results in at least 80% of the book of business being moved to the new firm within 3 weeks.
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. 
