Moving your practice can be overwhelming. There is a lot that can go wrong because there are many moving parts. When you are working in an industry where a license is required, non-competes are common, competition is abundant and there is a potentially big payoff, things can go wrong quickly. Here at the Rummage Group, we often see advisors only after they have made a bad move-which usually could have been avoided. Here is our ounce of prevention in 10 easy steps.
DON'T BE AFRAID OF NON- COMPETES/NON-SOLICITS I am not an attorney, so you should seek legal counsel regarding a non-compete/solicit. But the bottom line is that these agreements generally work well because they scare people into submission. There are questions regarding whether non-compete agreements are legally binding and there is no simple answer. It varies from case to case, and can depend on state law and the restrictiveness of the agreement, not to mention what the employer construes as competition.
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