Is a non compete valid in my particular case as a contracted financial rep in Texas?

I am a former Allstate Financial Registered Representative that was on contract. Since leaving Allstate, I have had several former clients (friends and relatives) who have contacted me to ask about moving their account over to me so I can work with them. I did not initiate contact with them-they contacted me. I inquired to Allstate and received this response:"Per your Non Compete agreement you need to refrain from writing, influencing or in any way interfering with any of the business previously written or serviced by yourself as a previous EFS at Allstate for a period of 1 year." Does this mean I cannot do any new business or move their present (Allstate) business over to my new broker/dealer? Any information is greatly appreciated.

1 answer  |  asked Jun 6, 2011 3:50 PM [EST]  |  applies to Texas

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Answers (1)

Jill J. Weinberg
An attorney would need to review the agreement you signed to properly answer whether your NC is valid. In Texas a properly written NC can be enforced by a court or arbitrator. But the one you signed may not meet all the requirements.

posted by Jill J. Weinberg  |  Jun 7, 2011 1:02 PM [EST]

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