There are different treatments for 2 main products:
- For insurance products
– Some FA companies allow you to move the insurance policies (most life insurance companies is supportive of the movement) to new FP/FA firm
– Some FA companies don’t allow you to move the insurance policies to new FP/FA company but you can continue to enjoy the commission as long as you service the clients
– Some FA companies don’t allow you to move the insurance policies and stop paying you the commission when you leave the firm - For investment products
– Some FA companies allow you to transfer all your existing client’s investments to another FP/FA company
– Some FA companies require the clients to redeem their investment in order to move to another FP/FA company
– Some FA companies’ contract claims that the clients are owned by the FP/FA company, not the advisor. Therefore, you are not allowed to transfer the clients’ investment to another FP/FA company
Therefore, it is important for you to find out about what is the company’s arrangement on this before joining the company.