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I moved a couple times, with success, judging by my commercial success that followed each move. My reasons were a combination of money, dissatisfaction with leadership at regional and global level, and better long-term value propositions at the target firm, etc.
It takes an enormous amount of energy and patience to re-establish a reputation and stable business in the new place. If you have some client(s) who may want to move some business with you (you don't need much, but enough to signal that you are bringing new business in early), and you have a pyramid who might follow you, it can be an incredibly rewarding outcome.
I probably wouldn't consider a move if I didn't have these two prerequisites. This perspective helps me relentlessly focus on the two of my most important assets - my clients and my team everyday.
P2 - I had similar restrictive covenants but I operate in a region where enforceability is more nuanced than the US. For my moves, some of my clients asked to move their business with my new firm without my prompt when I told them I was leaving. I consulted my lawyers in terms of what I could say, do, etc. and I followed my lawyer's advice. My conversation with my team members was also quite nuanced and I tried to avoid language that can be interpreted as encouraging them to leave their firm. Enough cues to action but not enough to prove intent. In the end, I received a few threatening letters from my former employer but didn't face court proceedings. My clients also told them to leave me alone, which probably helped.
I haven’t moved but I’ve worked with many laterals both successful and not. Two paths to success - come over early enough in career and as part of a strong team and build as any other newer partner would OR come over with an established book that (after requisite cool down period) will translate to commercial success. A lot of people come over only to find they have neither a team actually willing to bring them in nor a book of business that is actually self sustaining. Have to be very realistic about the strength of your relationships and ability to sell if you move.
I know people who have moved with success and without success. I’d be curious is there is a normal distribution or if it’s completely case by case.
Moved to start my own firm with a few other consultants. We found significant early success without violating any of our non-solicits through a number of clients who reached out and allowed us to hit the ground running. Would do it again in a heart beat - it has been so rewarding to be able to choose the people and clients we want to work with.
One of the most successful partners in the big 4 moved, brought a lot of ppmds along with him, made it to ceo. Retired.
Not generalizing. Just describing one remarkable move.