In the international arena, financial advisers might change firm but stay in town, or change location with the same firm, or change both firm and location.
Why Has My Advisor Suddenly Disappeared?
Good financial advisors build long term working relationships with their clients. It’s natural to be concerned or worried when a sudden change or break in communication happens. Lack of information creates uncertainty, which nobody likes. However, there can be several underlying factors behind a temporary lack of clarity:
- The departing advisor might be under a confidentiality agreement, to not disclose details of any job offer made to him or her.
- The advisory firm that is losing the advisor might be disorganised or ineffective in its communication, and possibly deliberately so.
- The advisor may be under a period of contractual 'garden leave' or other restriction while awaiting visa or work permit processing.
- In some regulated territories such as Singapore, the advisor will have a ‘blackout’ period while waiting for his or her licence to be re-issued with the new firm. During the blackout, it is an offence for the individual to give any financial advice or anything that might be construed such. Hence, for its own legal protection the new firm will enforce extremely rigorous guidelines on non-communication with clients, until the new licence is approved.
Do I Have The Right To Continue Working With My Advisor?
Therefore, as far as the provider is concerned, you have the right to change advisor at any time you like.
If Your Advisor Has Moved Abroad
If Your Advisor Is Still In Town
Don’t Feel Pressured – You Are In Control
There is no pressure on you to make a quick decision – you are in control and you can choose to move on at any time, taking your business elsewhere.