: Consult a securities attorney to understand non-solicitation clauses and Broker Protocol rules.
: Prepare account transfer paperwork and over-communicate with clients to explain how their assets will be protected at the new custodian.
: Confirm you meet licensing requirements. While the Series 65 is standard, professional designations like the CFP or CFA may offer exemptions depending on state regulations. 2. Legal and Regulatory Setup This phase transforms your idea into a regulated entity.
: Avoid being a generalist; instead, focus on specific client profiles such as tech executives, physicians, or small business owners to build specialized expertise.
Moving clients from a previous broker-dealer requires extreme care to avoid legal disputes.