Exit Strategies

From "Fond Farewells," Page 54 Scott Reed and his partner, John Hardy, at Hilliard Lyons in Tupelo, Miss., gave away 100 smaller clients in October and planned to distribute another 100 accounts to junior brokers in December. Some clients receive a breakup letter, others receive a phone call, Reed says.

Reed and Hardy set up a production number to track the reassigned accounts, splitting the revenue with the junior brokers 50-50 the first year and then handing the account over the second.