With Backing from Schwab and Dynasty, RIA Breakaway OpenArc Fires Back at Merrill Lawsuit
In the response filed by the lead financial advisors of OpenArc, including senior managing partner Erik Bjerke, they argued that they followed procedure under the Protocol for Broker Recruiting , an agreement between securities firms that allows for advisors to take certain client contact information with them when they leave if both firms are part of the protocol. OpenArc, the advisors argue, had become part of the Broker Protocol when the client information was gathered.On Friday, the defendants filed sep ...