Non-Compete Agreement

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anywhere8745
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Non-Compete Agreement

Post by anywhere8745 »

I am sure there are a million and one topics about this, but I have a general question for those that have been through this.

I am considering going from a small agency to one of the large brokerages doing pretty much the same role. The client profile is pretty different as the small agency is mostly middle class families and the large brokerage handles predominately high net worth clients.

In your experience, do you think the small agency would try to prevent the move? The non-compete is two years and the large office is within the geographical restriction zone.

Also, when you have made this type of move do you feel the other previous agency is okay with agreeing to let the Account Manager take friends and family. i.e. the types of accounts where the relationship is strictly with the producer. I would not be trying to take the accounts that were referred by current clients or through business paid networking groups and marketing campaigns. Strictly the family and close friend accounts.

NCInsuranceAgent
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Re: Non-Compete Agreement

Post by NCInsuranceAgent »

If you signed a non-compete, I would honor the agreement. This is a very small industry, and it is best to not burn any bridges.

I can only speak for where I work, but nobody can stop you from making a living. That said, you can't openly and shouldn't open solicit any business from the old Agency unless you're willing to buy that business. I am sure you will have clients that will find you, but I wouldn't move them unless it was absolutely necessary and your were in communication with the previous Agent until you're past the period of the agreement.

Just my opinion thought, I am not a legal expert or anything.

wariline
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Re: Non-Compete Agreement

Post by wariline »

I have no idea how often those "non-compete" agreements are actually enforced by prior employer, but I doubt many would go through the trouble unless they're hurt by your action. If your move is a done deal, I'd suggest you to discuss the matter with both the new and old employers. Most employers probably would understand that your family would want to move with you. Your new employer might also appreciate it that you bring this up to them.

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