Search Our Blog
Recent Up-tick in “Golden Handcuff” Promissory Note Disputes
By SHUSTAK REYNOLDS & PARTNERS of Shustak Reynolds & Partners, P.C. posted on Tuesday, August 23, 2011.
The firm has seen a recent up-tick in the number of “golden handcuff” promissory note disputes involving large wire house firms, particularly Morgan Stanley Smith Barney. Like other large firms, Morgan Stanley Smith Barney entices financial advisors to join the firm by offering large, up-front promissory note “bonuses” which typically are forgiven over time. With the brokerage industry in turmoil, many advisors have been terminated or are transferring firms and are left owing substantial amounts on their golden handcuff, forgivable notes. Financial Advisors who believe they may have a claim against their employer, including current or former employees of Morgan Stanley Smith Barney, are encouraged to contact Erwin Shustak or Thomas Frost at 888.748.8748.
