Galbraith Featured in Think Advisor Article on Financial Advisory Teams

Think Advisor recently published a piece by executive recruiter Mark Elzweig titled, “Six Steps to Take Before You Build a Team,” which featured thoughts and insights from Kevin Galbraith on the topic of how financial advisors can protect their legal and economic interests by drafting and implementing a carefully constructed team agreement. Among the guidance provided by Galbraith:

“Not all marriages were made in heaven, and not all teams were meant to last. Be sure your exit strategy spells out how assets will be distributed if a team member leaves or retires — or if you want to boot someone off the team.”

“A team agreement also should include strict confidentiality and non-disparagement provisions, to ensure that sensitive information is protected and that any bad feelings stemming from a breakup do not spill into the public, which can cause real harm to advisors’ hard-earned reputations.”

“Think of your team agreement like a will. Both types of documents should be reviewed regularly and updated as necessary; not every provision you put in place five years ago will fit into the vision and goals you have today.”

If you are a financial advisor considering building, joining or exiting a team, and would like to discuss your legal rights and interests, please contact a securities attorney at The Galbraith Law Firm. Call 212.203.1249 or email kevin@galbraithlawfirm.com for a free confidential consultation regarding your legal rights.