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Hired, Quit Job, Offer Withdrawn Arizona

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  • Hired, Quit Job, Offer Withdrawn Arizona

    Hi,

    I would like to run my scenario past you all. I'm simply trying to get an idea as to whether or not it would appear that I have a case. I appreciate any and all thoughts as this has been very difficult for me and my family.

    On August 24, I met with and received a tentative offer to be a producing manager in a financial services business. At that time, I was employed at another financial services company as a rep with full benefits. I was advised at that time by the managing principal to not quit my current job as they had to do a full due diligence including background and credit. I consented and advised him that I had declared bankruptcy in September of 2009 discharged in February of 2010. He had me meet with his licensing and compliance specialist and said if they said there wouldn't be a problem we'd go forward. That person said there would be no problem.

    So, I filled out all the paperwork to begin the background process and submit my manager contract for the principal's signature and approval. I was advised that all was contingent on my background and they'd be in touch.

    During the process, I had to submit all the paperwork regarding the bankruptcy and a home that I lost in foreclosure. I was told repeatedly no worries, not a problem. On/around September 7th I was told that my background had officially cleared and we were good to proceed. All that was left was for me to move my regulatory licenses to this firm. I quit my job on September 3 in anticipation of this because you cannot have licenses posted at two firms (it's called dually registered and illegal in the fin svcs business). At that point, I was led to believe it was a done deal and that I'd be starting soon.

    I was told to report to work on 9/13 and did. Upon my arrival, i found out that while my licensing was approved, my manager's contract was not, but that would be a formality. So, we waited for a 10/1 start.

    On 9/24, I was called and told that my manager's contract was not approved due to the bankruptcy. I feel completely misled and betrayed. I would NEVER have quit my job and surrendered my medical benefits had I known that I was not approved.

    I was told repeatedly not to worry, no issues, no problems, as recently as 9/23 when their comp specialist called to get a few details. They blamed it on their home office...either way, I'm now unemployed with no medical benefits and a daughter with a broken arm.

    I am hoping I have a case, because I would like to ensure that they never do this to anyone again and frankly, would like to make them pay for causing such grief in my life.

    Any advice would be helpful.

    Thank you.

    Tom in AZ

  • #2
    I was advised that all was contingent on my background and they'd be in touch.
    This is going to be your problem. You could have waited until it was confirmed for SURE, then given a 2-week notice to your employer and transferred your licenses at that time, couldn't you?

    I would never say not to seek legal counsel, but I'm not positive about your chances.
    I don't respond to Private Messages unless the moderator specifically refers you to me for that purpose. Thank you.

    Comment


    • #3
      I did wait.

      You could have waited until it was confirmed for SURE, then given a 2-week notice to your employer and transferred your licenses at that time, couldn't you?


      Thanks for the response....I did wait until I was pretty certain. I had constant communication with their licensing and compliance coordinator and did not quit until he had given me confirmation that it was very likely. Sure enough, four days after I quit (on the Friday before Labor Day), he gave me that confirmation that we were good to go and asked me to come in move my licenses (on the Tuesday after Labor Day).

      In the financial services business you do not ask someone to move their licenses until it is finalized....that is common knowledge and an industry best practice for exactly this reason. Doing so prematurely could cause exactly this. So, by him asking me to complete the license transfer process, the assumption was that it was done. In addition, I have multiple emails from this same specialist repeatedly telling me that we have no problems...I had no reason to suspect that there'd be any issues as he kept telling me there were none. In addition, they didn't even tell me that the manager contract approval process was a totally different process until Sept 13 when I was already eyeball deep, quit my job, moved my licenses and was set to start. (I don't even think that the licensing specialist knew that was a separate process, frankly).

      Not sure if this info changes your thinking at all.....thanks again for the response....

      Comment


      • #4
        You know your industry better than I do. Again, seek local counsel. You may or may not have a case of detrimental reliance.
        I don't respond to Private Messages unless the moderator specifically refers you to me for that purpose. Thank you.

        Comment


        • #5
          Detrimental Reliance cases are generally hard to win but that is probably your
          only chance at a possible case against the co. Consult with an attorney as Patty
          suggested.

          Good luck.
          Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

          Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

          Comment

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