If you’ve ever been a broker or had friends that were you know that when you’re hired you sign an agreement that your clients or “book” that you build becomes the property of the brokerage house. Most make you leave them or at least leave them alone for a certain period of time while they contact them and try to get them to stay. What most people don’t know is they don’t buy your hard earned book from you and to make matters worse hold your bonus or stock options from you if you break these rules. Sanford Katz was a top broker from Golman Sachs and made millions for Goldman but unfortunately they downsized and let him go. Katz got a new job at UBS and according to Goldman contacted his old clients. Because of this, Goldman held $2.5 million that had been held from his pay to be invested in the companies’ stock plan. An arbitrator ruled that Goldman needed to give him back his money and let him go in peace. I think this is going to be a precedent due to the fact this is the first ruling in favor of the broker. Unfortunately this was just an arbitrator and not a court so it may not hold as much weight.