I come across advisors who worry their firms will stop honoring the Protocol for Broker Recruiting one day. Here’s why that would be a mistake that might cripple the trust the Protocol now brings to both advisors and the firms they work for.
The Protocol is the seminal accord among brokerage and advisory firms that some 11 years ago gave financial advisors the freedom to leave a firm, hold on to their clients and avoid costly legal battles. At the same time, the interests of the firms they would leave behind would be protected.
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