Brokers who decide they’re going to leave the firm they’re currently with must ensure they’re appropriately doing things so they don’t violate any laws. They also have to review the terms of their contract to determine what terms are present there.
One of the most important things you should do when you decide to leave the firm is to write your letter of resignation and let your supervisor know your plans. Regardless of the reason you’re leaving the firm or what your future plans are, consider these three tips:
Don’t alert your clients beforehand
Even though you’re leaving the firm, you still have a fiduciary responsibility to it. Whether you can contact them after you leave depends on several factors, including your contract and applicable laws.
Leave behind all documentation
You can’t take any documentation with you. This includes things like client files and contact information. Even digital documents shouldn’t be taken. Actions such as forwarding your emails to a new address or even leaving an out-of-office autoreply, can cause issues for you.
Return all company property
Keeping any company property can lead to legal issues for you. It doesn’t matter how minor the property may seem to be. You should also ensure that you don’t shred or destroy any documents, even if it’s just old marketing or informational content.
Once you decide that you’re leaving the firm where you are working, you should protect your interests. This is especially important if you’re starting your own firm because you’ll need to be known as someone who’s ethical and respectable. Having legal guidance can help.