For broker-dealers, the job of attracting advisory talent is often hindered by the difficulty of advisor transitions.
Thankfully, new digital solutions have emerged which reduce the work and time required to repaper client accounts, helping broker-dealers attract better advisors and onboard them faster.
Download the guide to learn how navigate advisor transitions with compliant, paperless solutions.
Understanding the Protocol
The Protocol for Broker Recruiting was created in 2004 by Merrill Lynch, Smith Barney, and UBS. It’s a legal agreement that describes the rules that determine what advisors may and may not do when changing firms. The rules include:
- Advisors can take client names, addresses, phone numbers, email, and account registrations
- Advisors can’t take account numbers, financial statements, or any confidential information
Docupace Advisor Transitions are compliant with the Protocol, FINRA, and SEC regulations, ensuring a smooth transition for everyone involved.
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