Severance Agreements for Financial Professionals
Jun 14, 2013
Financial professionals working in the securities industry who are separating from their firms are often presented with severance agreements. Severance agreements for financial professionals are usually drafted to protect the interests of the firm and not the individual broker. The severance agreement may include provisions that restrict the financial professional’s ability to work for other firms or with certain clients. It also may include provisions to restrict the ability of the individual to solicit others from the firm or to solicit certain clients.
Some of the issues to keep in mind when reviewing severance agreements for financial professionals is the impact on the following:
(1) Your ability to qualify for unemployment benefits;
(2) Termination disclosures by the firm to FINRA;
(3) References by the firm;
(4) On-going payment of health insurance premiums;
(5) Severance payments;
(6) Outplacement assistance; and
(7) Your ability to job seek without restrictions.
Severance agreements for financial professionals are often negotiable, and experienced counsel can assist you in identifying areas of negotiation based upon your individual work history and events leading up to your termination.
For assistance with review and/or negotiation of a severance agreement, please contact Boston employment lawyer Maura Greene, Law Office of Maura Greene LLC, Six Beacon Street Suite 205, Boston, MA 02108 at 617-936-1580 or email@example.com. Maura Greene is an employment lawyer in Boston who was listed in 2016, 2015, 2014 and 2013 by the Boston Globe as one of Boston’s top-rated employment attorneys. She has been named a Super Lawyer for employment for the past five years and is AV-rated by Martindale Hubbell, which is a peer review rating and the highest rating an individual attorney may achieve. She is a graduate of Smith College and Suffolk University Law School where she was on the Law Review. She has been a practicing attorney in Boston for over 28 years.