Break Away From The Pack

Migrate Your Practice To A New Platform

Joining a new platform entails more than simply resigning and starting a new job. You must negotiate a compensation package with your new employer and, oftentimes, a repayment strategy addressing any existing financial obligations, like promissory notes with your former employer. Don’t let unnecessary obstacles stand in your way when you are ready to make the move.

A successful transition hinges on a smooth departure from your current platform in order to avoid any missteps that could bog you down in costly and unproductive disputes or litigation. At Breakaway Partners, our experienced attorneys are poised to help walk you through the process, including completing the steps described below.

Negotiation Of Compensation Packages

Once you make the decision to transition to a new platform and understand the value of your book of business in the current marketplace, we will help you negotiate a compensation package that maximizes your potential for success at your new firm. This may include reviewing and analyzing equity and other incentive documents. If necessary, we can provide guidance as you negotiate repayment amounts and schedules on current promissory notes or other financial obligations.

​Step-By-Step Transition Assistance

Our lawyers at Breakaway Partners will walk you through the resignation process to minimize the risk of litigation​, including reviewing and analyzing documents associated with you or your team’s current employment, likely containing various restrictive covenants that could impact the transition, including:

  • Current employment agreements
  • Promissory notes and loan documents
  • Production agreements and compensation packages

We can provide appropriate resignation letters that can be modified as necessary for all departing employees and otherwise develop a comprehensive exit strategy for all transitioning employees going along with you to your new platform. 

Nuts And Bolts

Ask us to review the necessary steps to take advantage of the Protocol for Broker Recruiting with you, where applicable. Our team will help you navigate any non-competition, non-solicitation, confidentiality or other contractual restrictive covenants.

Our attorneys will advise you on permissible contacts with clients regarding the transition, both before and after resignation. We will continue to answer questions related to client and Center of Influence (COI) communication as they arise after the transition. 

We Are Here To Help

Our attorneys at Breakaway Partners are here to guide you through all phases and aspects of migrating your professional practice to a new platform or setting up your own registered investment advisor (RIA) entity. Our San Diego-based firm welcomes your inquiry at 619-826-8345 or via email. We advise clients nationwide.