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Second what the guy above me said.
What's the worst that can happen? They require me to leave my files on the way out to my new B/D and have their Jrs call my clients. I'm assuming (since they told me when hired) I get to take all my clients when I leave and as long as I have my ducks in a row it's no problem to transfer all my CRIA business to the new B/D - assuming they have a contract with the fund company.
MML it appears has not signed the broker protocol
The clients are 100% on me
Can they stick me with some random charge?
Appreciate any insite or any things to watch out for as I make the move.
Thanks!
Mass doesn't work like a wirehouse. They barely call on their own orphan policyholders, unless they call in first.
The only products you may have trouble moving over would be proprietary variable life and variable annuity products. However, I would think most B/D's would allow it as Mass is often an approved product line to sell. There was an old CRIA product that's no longer available that rebalanced gains into an immediate annuity income stream - that would be hard to move, if you sold it or have any on the books.
I remember signing agreements for two things:
1) I wouldn't replace MassMutual life insurance for at least two years after contracts were issued.
2) I wouldn't recruit MassMutual agents for at least two years after leaving.
I don't recall any other non-solicitation agreements, so I don't foresee any problems with being allowed to contact your clients about your move and moving their accounts or changing BOR from MMLISI to you at your new firm.
Definitely download or scan everything you have. The B/D especially requires paper trail on all transactions done during your time at MMLISI. That's expected for compliance and record-keeping purposes.