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Financial Pros Jumping the TARP Ship

By Mark H. Astarita, Esq.

Law firms like mine, that represent financial professionals and firms, have seen a significant upswing in the number of brokers and analysts who are changing firms. With some firms offering over 200% of a broker's trailing 12 as a foregivable loan, this is really not surprising.Many brokers would have a difficult time rejecting an offer that gave them similar products, platforms and working conditions plus a check for 200% of their last 12 months production. Of course, wire houses are not all the same, and there are significant issues to be resolved in the agreements surrounding such a move. But 200% in a check is a significant amount of money, regardless of what your trailing 12 has been.That trend appears to be moving to other financial professionals, and we are seeing analysts starting to move...continue to full post

Full post as published by SECLaw.com on April 15, 2009 (boomark / email).