On Monday, the U.K.’s financial services watchdog fined Charles Schwab £8.96M ($11.86M) for violating rules on protecting client assets and making a false statement to the regulator.
Tagged with "Charles Schwab"
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Recent Schwab Settlement Highlights Need For Diligent Transition Planning
Posted on October 28th, 2019 at 4:46 PM
Charles Schwab and former advisor Peter Pavlakis have reached a settlement in which the advisor has agreed to refrain from soliciting clients he developed over the course of 19 years with Schwab. The non-solicitation agreement is to last until August 2021. Under the settlement agreement, the advisor also is required to return any records he may have obtained.
Schwab Accuses Former Adviser of Soliciting a Client
Posted on September 10th, 2019 at 1:52 PM
Adviser John VanEngelenhoven left his employer, Charles Schwab, to open an RIA that custodies with TD Ameritrade Institutional. Now he faces a FINRA arbitration and preliminary injunction as Schwab accuses him of soliciting at least one of the company’s clients. VanEngelenhoven is among several ex-Schwab advisors who have been taken to court this year over client solicitation.
Schwab Advisors Report Higher Fees and Increase in Services
Posted on July 22nd, 2019 at 3:54 PM
For many years, brokerage and bank Charles Schwab has been providing financial services to investors. However, Schwab advisors have been collecting higher fees from clients than previously reported. Amidst several widespread changes throughout the financial services industry, Schwab Advisor Services Executive Vice President Bernie Clark claims that advisors offer an increased amount of services in order to collect higher fees.
Sued by Schwab, axed by Morgan Stanley: A $750M team’s troubled career move
Posted on April 25th, 2019 at 4:32 PM
A rough four weeks for a $750 million team ended with the advisors out of a job and barred from soliciting their clients.
Morgan Stanley Terminates Newly Acquired Team Accused of Violating Their Employment Contracts with Charles Schwab
Posted on April 18th, 2019 at 5:21 PM
In a strange twist, Morgan Stanley has terminated a veteran team of investment advisers that who acquired less than three weeks ago from Charles Schwab & Co. Morgan Stanley parted ways with the newly hired team of advisers after they received a temporary restraining order (TRO) and preliminary injunction from their former firm, Charles Schwab.
Texas Investment Adviser Files a $100 Million Defamation Lawsuit Against Charles Schwab
Posted on August 7th, 2018 at 5:03 PM
A Texas investment adviser and his firm have filed a $100 million defamation lawsuit in the Eastern District of Texas against Charles Schwab Corp. claiming that the firm poached his clients after terminating him over a false story.
Two Brokers Sued by Charles Schwab for Stealing Client Data
Posted on November 14th, 2014 at 9:47 AM
Charles Schwab and Co. Inc. filed a lawsuit against two former employees and a Florida advisory firm, alleging they stole client information and used it to solicit clients.
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