Leaving to start a company to compete with a client

Currently working with a sell-side client in a pretty large industry that is highly fragmented and heavily under-innovated. I'm thinking very hard about trying to start a company that would revamp the incumbent business model and, to me at least, the idea seems pretty solid.

I really have no idea what my bank's agreement with the client looks like, if it's just NDA type of stuff or includes a non-compete clause. I'm curious to see if anyone has experienced something similar, either yourself or a co-worker. Really don't know how to view this from a legal standpoint.

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