Legal Question in Securities Law in California

I used to be a registered rep in my prior employment. As of 5 years ago I was no longer employed as a registered rep. I have had all my brokerage account online as it suits me best.

I recently became married and my spouse is a registered rep at a large Securities firm. Her firm now wants me to move all my accounts over to their firm due to "conflict of interest". The only exemption they have is if I held mutual funds which they do not offer.

I would prefer to keep my online account as I have no annual fees, no monthly fees and my trade fees are approximately 1/3 the cost of the large Securites firm.

How do I get out of having to move all my accounts?


Asked on 2/01/11, 1:55 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

This seems like a strange request. How does the big firm even know about your securities positions and accounts? You may have to do this to protect your wife's employment position and prospects, but it really seems odd.......

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Answered on 2/09/11, 1:07 pm


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