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Wealthmanagement.com, Christine M. Conboy, VP and assistant general counsel at J.P. Morgan, sought to make those internal divisions clearer. She wrote that the bank's participation in the agreement applies only to “registered representatives in the J.P. Morgan Advisors line of business” with the title of “wealth partner” or “wealth advisor.” “No other divisions, businesses or employees of JPMS or its corporate affiliates or parents are covered by the Protocol,” the letter read. “That means that registered representatives working in Chase Wealth Management, JPMorgan Private ...

The dispute highlights the complicated nature of non-solicitation carve-outs when advisors switch firms.

Thrivent Advisor Network Joins the Broker Protocol Thrivent Advisor Network is now a member of the protocol, which allows departing advisors to take certain customer information and solicit customers regardless of whether they had agreements that expressly prohibited such conduct. Thrivent Advisor Network, Thrivent Financial’s hybrid independent advisor platform, has joined the Protocol for Broker Recruiting, according to Capital Forensics, which maintains the protocol. “The Thrivent Advisor Network is a hybrid registered investment advisor (RIA) that serves independent financial ad...

Should I stay or should I go? Jeremy A. Cohen, J. Scott Humphrey and Erik W. Weibust | Dec 24, 2020 The Protocol for Broker Recruiting was established in 2004 by three major wealth management firms: Smith Barney, Merrill Lynch, and UBS. The “principal goal” of the Broker Protocol was to allow departing advisors to take certain customer information and solicit customers regardless of whether they had agreements that expressly prohibited such conduct. Now, some 16 years after its launch, the Broker Protocol has more than 1,900 members across the United States. However, in late 2017, t...