Employment Contracts Designed To Protect Your Practice 

Hiring experienced advisors and other critical staff are essential to the growth of your practice. But if you don't take care in your selection and implement protections, a new employee could become a liability. Ensure your practice and client relationships are protected with employment and practice interest agreements prepared by an experienced attorney. 

Employment Agreement

Key elements of the Employment Agreement include:

• Employment Classification: Clearly designates the individual as a W-2 employee or 1099 independent contractor, outlining applicable tax and legal responsibilities.
• Roles & Responsibilities: Defines the scope of work, duties, performance expectations, and reporting structure to ensure alignment and accountability.
• Non-Compete Clause: Restricts the employee or contractor from engaging in competitive activities for a defined period and within a specific geographic area following termination, helping protect the firm’s client relationships and proprietary information.
• Damages Clause: Specifies the financial consequences for breach of contract, including violations of the non-compete or confidentiality terms, to deter misconduct and protect the firm’s interests.

This agreement is essential for managing risk, setting expectations, and safeguarding the value and integrity of the practice. It provides a legal foundation that supports long-term business growth and professional alignment.

Flat Fee: $1,995

Practice Interest Agreement

Key components of the Practice Interest Agreement include:

• Ownership Structure: Specifies the ownership and equity held by each advisor, along with responsibilities
• Death & Disability Provisions: Outlines the agreed-upon terms for the continuation, transfer, or buyout of ownership in the event of one advisor’s death or permanent disability, helping avoid disruption to clients and operations.
• Valuation Framework: Establishes how the practice will be valued for equity transactions or succession planning.
• Exit Strategy: Provides guidance on voluntary departure, retirement, or buy-sell triggers, ensuring a smooth and fair transition.

This agreement is a critical component of risk management, succession planning, and business continuity for advisory firms with multiple stakeholders. It helps protect the practice, the advisors, and their clients by ensuring clarity, stability, and a predefined path forward in times of transition.

Flat Fee: $2,995