As securities attorneys, employment law is a natural part
of our practice. Since our main practice areas are corporate
litigation and broker-dealer issues, it is not much of a surprise
to learn that the attorneys at Beam & Astarita, LLC also
provide unparalleled representation of industry professionals
and broker-dealers in their employment related agreements,
litigation, and arbitrations.
Our representation is nationwide. Whether we are representing
the firm, a registered representative or an employee, our
experience provides the ability to understand, appreciate,
and address the issues that arise in the employment relationship,
including the hiring process, the workplace and employment
termination issues, whether voluntary, or involuntary.
Broker Employment Agreements
their careers, the attorneys at Beam & Astarita have represented
well over 100 brokerage firms and hundreds of financial professionals
in their regulatory, litigation and employment issues. Our
experience and knowledge of this highly specialized area of
employment law enables us to provide guidance and assistance,
to firms as well as professionals, in the negotiation of compensation
packages and upfront loans, as well as severance agreements,
promissory note settlements and restructuring, and non-compete
have negotiated broker compensation and separation agreements
for individuals with every major Wall Street firm, and have
done the same from the firm side for numerous small and mid-size
firms. The use of upfront bonuses, or employee forgivable
loans as inducements and compensation for a broker to change
firms, has a series of issues, pitfalls and dangers, for the
firm, and for the broker. This experience, coupled with a
continual monitoring of legal decision and trends enables
our firm to effectively negotiate securities employment agreements
for our clients.
Transition to Investment Advisor
the financial world changes, so does the relationship of brokers
and clients. We are increasingly involved in assisting brokers
and teams of brokers in leaving the FINRA regulated world
and becoming registered investment advisors. While there are
significant business advantages to becoming an RIA, the transition
from a brokerage firm to an investment advisory firm involves
its own unique set of issues, and an entirely different regulatory
environment, with different regulators, and different rules.
As more and more professionals realize the advantages of using
a fee-based model for the benefit of their clients, they realize
the advantage of leaving the brokerage world and moving to
the investment advisory side of the business. Mr. Astarita
has been at the forefront of this move away from commission
business and the overwhelming regulatory environment and has
helped transition brokers to advisors for decades.
Broker Employment Termination
experience in the negotiation of employment contract and loan
agreements provides the foundation for the negotiation and
resolution of the termination of those agreements. The termination
of the broker-firm relationship involves a host of issues,
including wrongful termination, non-compete and non-solicitation
agreements, compliance with the Broker Recruiting Protocol,
repayment of upfront loans, EFLs and promissory notes, as
well as U-5 defamation and related issues.
the employment relationship does not go as planned, we provide
representation and counsel in post-employment disputes, including
severance agreements, re-negotiation of promissory notes and
non-compete agreements, as well as ongoing counsel in post-termination
investigations by FINRA and the SEC, and in litigation over
the employer-employee relationship.
Sometimes the employment relationship simply does not work
to everyone's satisfaction. Our securities attorneys' extensive
experience in post-termination issues include the prosecution
and defense of claims involving wrongful termination of employment,
sexual harassment, retaliatory discharge, promissory notes
and forgivable loans, non-compete and non-solicitation agreements,
and defamation claims related to U-4 and U-5 forms.
and Experienced Representation
All parties in the securities employment relationship need
to be represented in employment disputes by experienced securities
employment attorneys who not only understands employment law,
but also securities law, and the arbitration process. Our
attorneys have that unique combination of skill sets to enable
our firm to successfully represent parties in all aspects
of securities employment law.
If you are considering retaining a securities employment
attorney, contact Mr. Astarita at firstname.lastname@example.org.