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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 110370
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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If i indeed proceed to chat with a professional, after the

Customer Question

If i indeed proceed to chat with a professional, after the 5$ deposit and other fees... what confidentiallity agreements are in place? Is it safe to talk openly, or can this information be released publically - thus exposing me to the chance my management/employer sees this
Submitted: 2 months ago.
Category: Legal
Expert:  RobertJDFL replied 2 months ago.

Thank you for using Just Answer.

This is not a confidential website (it is a public site) but after completion of our conversation and you rating the answer, I can ask customer service to lock the question and keep it from being seen. Also, your username is ***** ***** your protection -and you should not use real names or just use first names when asking your question or providing details (full names aren't really important to the question anyway).

What specifically was your legal question?

Customer: replied 2 months ago.
We have a team, I am junior junior member. My middle partner has been alerted that an internal review has turned out not in his favor, he is being asked to chose between termination and resignation. (The allegations against him are misrepresented, and he believes they are an exaggeration of the events that lead to this point). Assuming he choses to resign, what steps should he take. We are familiar with protocol, which the firm operates under, and is a wire house. The accounts are in a split number, so the clients will not be open season for other advisors at this firm. They will remain with the current team.When should he leave the resignation letter? We know what to say.... "John has decided to resign effective immediately and pursue other opportunities within the industry."
What steps should be taken to prevent damage to the U-5/reputation of my brother?
Where should we seek representation and what should the attorney do and what is the time line?
How should we present the situation to management at the firm/firms he wishes to transition to?Given the suddenness of this situation, we have not had time to prepare. We were blindsided. The rest of the team was not even given a notice that this was happening, the possibility of termination, or anything until the decision was made. The senior partner was out of the loop even though my partner asked that our senior partner be involved. He is young and did not realize, in talking to the firms lawyers, he was potentially incriminating himself. The results of the investigation/review completely misrepresent and exaggerate the actions of my partner... Who feels he was not able to present his side of the story.
How are we to handle the process of talking to the clients that had a better relationship with him - and the ones that he wants to take with him to the next firm? Do's and don'ts here would be helpful. We want to play by the rules while giving him the best opportunity to take his accounts with him.
Bot***** *****ne - we want him to land on his feet, head high, with as little damage done to his reputation as possible and have the abbility to retain his portion of the team's book with his new venture. Please advise. thank you.
Expert:  Law Educator, Esq. replied 2 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
The issue is that he should submit the resignation as soon as he can before the employer tells him he is fired for cause. As far as the FINRA reporting goes, unfortunately that is up to the employer and if they have proof of some discrepancies, legally they have to report them to FINRA on their employment separation notice and all your friend can do is on his report completely disclose the information to FINRA and argue that there was no actual evidence of impropriety but he left to pursue better opportunities.
If he does not have a non solicitation agreement with the company, then he can simply tell his clients where he is going and they are free to follow him or remain at the current company. If there is a non-solicitation agreement he can do nothing at all with those clients and he has to leave them alone and if they ask for him you can tell the customer's only that he left the company.

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