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Major bracket Wall Street banks have only recently institutionalized substantial retirement packages for senior advisors to sunset out with very few restrictions. Inheriting advisors who care to take over these books of businesses face an enormous opportunity to convert these books, yield a solid short-term return, and a terrific long-term opportunity to own and grow these books.

However, for these inheriting advisors, the rules associated with the restrictive covenants, the non-solicitation clauses, and the timeframe to yield any return differ substantially at Merrill’s CTP program from those at Morgan Stanley’s FAP program, Wells Fargo Summit Program, and UBS’s Alpha Program.

In an interview with leading securities law expert and well-known transition recruiter, Brian Neville and Roger Gershman tackle issues associated with Merrill Lynch’s CTP program. Some shocking revelations and instant food for thought.




Picture of Brian J. Neville

Brian J. Neville, a founding partner of Lax & Neville LLP, has significant experience in broker/dealer, securities, regulatory defense, employment, and commercial litigation in arbitration forums and state and federal courts. He has arbitrated cases in at least 18 states and has been lead counsel on well over 500 matters.

Mr. Neville has successfully represented investors and broker-dealers in disputes involving sales practice issues and employment disputes. Mr. Neville also represents firms and registered representatives in enforcement actions by Financial Industry Regulatory Authority, Inc. (“FINRA”) (formerly the NASD and NYSE) and the Securities and Exchange Commission (“SEC”). On behalf of investors, he has recovered in excess of $50 million. On behalf of his defense clients, which tend to be individual registered representatives, management of broker-dealers or smaller/regional brokerage firms, he has successfully defended and resolved numerous cases.




Roger Gershman, CEO of The Gershman Group. Roger brings a wealth of experience in financial advising and asset management, Roger Gershman brings a unique advantage to the world of financial services recruiting. Having spent twenty-five years himself as a financial advisor at Hambrecht & Quist, UBS PWM, and Credit Suisse, Mr. Gershman brings a unique perspective to the recruiting and consulting world of financial advisors.

He has built profound relationships through the generations and has fostered deep relationships with his clients on both the broker and management sides. He upholds the reputation of The Gershman Group by continuing to provide valuable consultation and advice to transitioning financial advisors.






This is sponsored by The Gershman Group

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