Leaving Your Investment Firm Job: Your 3-Step Checklist

You’ve been offered a job at a rival investment firm that blows your current job’s benefits out of the water. Or perhaps an entirely different field is calling you, and you’re ready to leave investments behind you. Leaving an investment firm job isn’t as simple as handing in your two-week notice. As an employee of such a firm, you had access to confidential information about clients and company investment strategies. Before you tell anyone you’re leaving, make sure you’re prepared to properly leave.

Hire an Attorney

Hire a Phoenix securities attorney as soon as you’re considering leaving. During your time at the investment firm, you may have signed non-disclosure agreements or non-compete contractual obligations not to take a job in the same field for a number of years after your departure. An attorney will let you know if your plans to leave are viable and prepare you for any litigation that may come your way. He may also suggest preparing litigation yourself if you suspect you weren’t paid proper compensation.

Transfer Your Funds

As part of the perks of the job, you may have been offered the chance to make investments offered through the company. Transfer these funds to another firm or to your own savings account before you leave to avoid a conflict of interest. Just be cautious that as soon as you make the move, your co-workers will wonder why you’re taking your money out.

Find Someone to Care for Your Clients

It may be against your employment contract to take your clients with you if you’re accepting another job in the same field. In that case, you should find one or more colleagues to take on your clients after you leave. Once these co-workers have accepted the offer, you owe it to your clients to speak with them one-on-one about the change, although you should avoid any badmouthing of your current employer at that time. Investing relies so heavily on good broker-client relations, so it’s better to leave them with a good impression. They may follow you to your new workplace sometime later.

You shouldn’t feel trapped in your investment firm job if you’re not happy, but you must be cautious and protect your assets if you hope to leave. If you’re really unhappy with how things are run, you may be able to pursue litigation absolving you from non-compete clauses. Speak with an attorney who specializes in securities today.