- On November 8, 2017
(Your legal counsel may choose to make edits to the wording)
In a post-protocol world, at least for Morgan Stanley Advisors (for now), the “Announcement Strategy” will be the replacement to Protocol.
The goal is to announce that you have moved firms and that your clients will follow you once they know.
You can contact your clients to let them know you have resigned and arguably have a duty to do so.
If the client asks to come with you, that is NOT a solicitation.
Don’t take proprietary information with you, including client lists and anything with company letterhead. Whatever you do don’t print or email client lists because you know big brother is watching and on high alert.
If your attorney permits it, or a reworded version, sending this message through social media messaging to your clients may expedite their understanding of the new legal constraints you are under.
If this message is sent to all of your clients soon after resigning and transferring licenses to the new firm you joined, by the time a TRO is granted (if one was to be), your clients will be calling and soliciting you to stay as their advisor.
On DATE, I resigned from Morgan Stanley. I affiliated with FIRM NAME and my contact information is ____________. Attached is a recent article about advisors leaving Morgan Stanley: Advisors leaving Morgan Stanley for another firm can’t solicit clients, but clients can ask to join their advisor at the new firm. Thank you.
*This is not legal advice. Please check with your legal counsel about written communication sent to clients after you leave Morgan Stanley.
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