legal, license, finra, edward jones, u-4

1 reply [Last post]
hunter26's picture
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Joined: 2011-02-08

Just looking for some help, I appreciate the good advice! Im a very young person and Iv always wanted to be a FA but I think i tried this career too soon, so I want to keep my options open for the future but Im already under contract.If someone was to leave edward jones after their can sell date but within the first year, of coarse as we know, that person couldnt join another firm and use their series 7 and 66 license without being sued the 75k.Is there anyway around that? I understand the series 7 license with finra expires after 2 yrs, but edward jones still holds the u-4. If I were to join another company years down the road and re-take the exam, would edward jones still be able to pursue me? Please explain how that all works. I apprecate the advice and my lack of experience has been a challenge. appreciate the help.

stockattorney's picture
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Joined: 2010-09-09

From my experience EJones is very aggressive on their agreements.  I know one instance, first hand, where a rep left EJones after about a year.  She had her licenses prior to EJones except insurance.  She went to another BD as a broker recruiter.  They came after her and they settled for a few thousand.  No guarantees you'll get the same experience but they're going to claim payback for all the "time and effort" they expended in training you.   good luck

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