I will be starting with a new firm shortly and the start date is firm. I know I'll be filling out my U-4 with the new company on the first day. The problem is that my current company will owe me some sizable commissions on life/annuity business and I believe I need to be "employed" at the time the policies get issued/paid. My guess is that they will cross by 2-3 days at most. The new job only handles investments and I will not be doing ANY insurance work. Also, the existing company lets you go the day you give them a 2-week notice.A few questions:
- Am I legally responsible for resigning from the old firm prior to starting with the new firm? I won't be conducting any business during this 2-3 day overlap.
- How soon after I sign the U-4 with the new firm does the old firm get notice?
- Does anyone have any other input/recommendations that I haven't addressed?
The commission is enough to make this gray area something I need to address, otherwise I would just walk. Thanks in advance for your help!!