Practical Application

When Amy Adams was originally hired by the first firm she worked for, it was as a stockbroker. Though her firm talked heavily in their advertising about “wealth management” and helping their clients see the big picture, Amy’s legal job description was as an “agent of a broker-dealer.” Although she initially gave advice as part of helping clients buy and sell different securities, she was only compensated when they actually completed a transaction.

In short, her job was to go out, find prospective clients, and sell them investments offered through her firm. To be qualified to do this, Amy had to pass a number of lice