Can a promissory note be enforced if a financial advisor is terminated without cause?

Typically, promissory notes require financial advisors to repay the outstanding balance if they leave the firm for any reason at all, whether voluntarily or involuntarily. However, promissory notes may provide for instances where repayment is not required, such as where the termination was due to retirement, disability or a reduction in force. Financial advisors should carefully review the specific terms of their promissory notes.

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