Attention California Advisors..

This was passed along to me by a former co-worker who now works for an employee rights law firm in Oakland. Interesting stuff ... I predict that California, as always, will set a precedent for other states. If you are a California financial services professional and want to know more, contact Scott Cole and Associates. Toll free (877) 367-6477.



SCOTT EDWARD COLE, ESQ.
MATTHEW R. BAINER, ESQ.
KEVIN R. ALLEN, ESQ.
CARRIE S. LIN, ESQ.
SUSAN L. JORDAN, ESQ.
_____________________
JEFFREY C. ALLYN
Marketing Director
Writer’s E-Mail: jallyn@scalaw.com _____________________
SCOTT COLE & ASSOCIATES A PROFESSIONAL CORPORATION
ATTORNEYS & COUNSELORS
THE WORLD SAVINGS TOWER
1970 BROADWAY, NINTH FLOOR
OAKLAND, CALIFORNIA 94612
Telephone: (510) 891-9800
Facsimile: (510) 891-7030
____________________
SCA Web Site: www.scalaw.com
August 30, 2007
re: Newsletter on a Financial Advisor’s Right to Overtime Pay
and Reimbursements for Business-Related Expenses.

Dear Advisor:

Among employee rights attorneys, there is little dispute that California financial services representatives are entitled to overtime pay, so much so that companies like Morgan Stanley, Merrill Lynch, and UBS Paine Weber have each paid out tens of millions of dollars in settlements, well in advance of trial.

In addition to these past settlements, numerous other brokerages and financial or life insurance companies have been slapped with overtime pay lawsuits, at least four of which are now being handled by our law firm. If it surprises you that financial services representatives have, for years, been denied pay to which they are entitled, consider that:

· California law presumes that all workers deserve overtime pay – unless their employers can prove otherwise; and

· The standard for proving an exception to the overtime laws is far more difficult than many employers (or workers) realize.

Also consider that, along with overtime pay, financial services representatives are generally entitled to reimbursements for business-related expenses – expenses that can really add up. In fact, workers’ realization of just how much money is being lost has resulted in a virtual explosion of litigation over the past several years.

If you have worked as a financial professional in the past four years and would like to discuss your experiences with us, we encourage you to contact us at (510) 891-9800, toll free at (877) 367-6477 or by e-mail at info@scalaw.com. You should know that confidentially discussing your rights with us creates absolutely no obligation on your part and that past successes cannot guarantee future results.

All good relationships are built on a foundation of fairness. Level the playing field at work.
Very truly yours,

JEFFREY C. ALLYN
JCA:tdvz Marketing Director
Scott Cole & Associates – Making the Law work for Workers