The Keniley Kumar law firm practices only in the securities field involving broker employment agreements and employee forgivable loans (“EFL”). We will be in your corner from discussions and offers to negotiating the employment and EFL agreements.
Although we do not accept very many EFL defense cases, we will give you an honest opinion as to your legal rights including constructing affordable settlement terms or, if the case may be, filing counter actions against the firm if you have been wrongly treated or fraudulently induced into employment.
Please consider the following before making any employment changes:
Step 1: You must hire an attorney prior to accepting a position with another brokerage firm and most importantly before quitting your present brokerage firm. If not us, then please hire someone. It is easier putting you into a good deal than getting you out of a bad deal.
Step 2: Consult with an attorney prior to quitting your present position when you still have a balance on your EFL. Even if you do not have an EFL, you still should research your legal rights under noncompete clauses and account transferability.
Step 3: If you did not hire an attorney as identified in number 2 above and you have quit your job with an EFL balance, consult with an attorney immediately
Step 4: Even if you have no legal defense(s) to the EFL obligation or have counter actions against the firm, an attorney experienced in broker employment can assist in constructing settlement terms that meet with your financial means.
Common Recruiting Techniques you may recognize:
- “You must first quit your job, then we will give you an employment agreement.”
- “Company policy that we can’t allow you to take the employment agreement outside of the office.”
- “We have a desk to handle all of your accounts.” (or failing to tell you that they do not have a desk for all of your accounts)
- “We are planning on opening a new office near your home and you will have first choice of offices.”
- “We want to make you a branch manager.”