EDJ ---> RIA

1 reply [Last post]
SuperMan's picture
Joined: 2010-09-18

I've heard a dirty little rumor that the EDJ contract that all new advisors sign is un-enforceable if you move to a RIA. I know I can talk to a lawyer to confirm and will do so if I choose to move that route but can anyone shed any light on this?

Mutinous1's picture
Joined: 2010-09-19

It depends on the state that you live in and when you were hired.  When I was hired by EDJ, the contract was minimal and filled with loopholes.  Also - in my state of residence, there is a contract clause whereby if one item of the employment contract fails to comply with state law, the entire contract is null and void.  You should consult a lawyer for your situation to be safe.  I do know they have gone after FAs before for such expenses, but I've yet to hear a case where they actually won or received punitive or compensatory damages.

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links
Practice Management Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×