What is a restrictive covenant, and why is it important to understand the impact this agreement may have on your business? Often required when a registered investment advisor (RIA) joins a new firm, a restrictive covenant may be a separate document or a provision within a larger employment or confidentiality agreement.

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Every RIA firm needs to be familiar with the important issues that relate to restrictive covenants used in the industry. These documents may be drafted separately or included as provisions within larger employment or confidentiality agreements, and are used to protect an employer’s business interests and client relationships.