Rollup firm, whose private equity owner is believed to be in merger negotiations, sued an advisor last week who joined a rival RIA group.
Michigan woman, 63, asserts that she was railroaded over e-mails sent to Schwab’s RIA clients about company policies.
Its core cash-sweep into a high-yielding government money-market fund pressures competitors only days after Fed cut rates.
Charles Schwab will get a quick net interest margin profit boost when it moves USAA’s brokerage and advisory accounts to its platform by shifting cash balances are shifted from money funds to its bank.
Brokerage giant also forces former retail head Andy Gill, who was running marketing, as part of restructuring.
Charles Schwab Corp. appears to be making a play to grab more advisory clients as fees fall for asset management and trading.
Advisor managing $1 billion when he was unexpectedly discharged in April has set up independent advisory firm in Ohio using Dynasty operational and Schwab custodial services.
A pair of veteran brokers who Schwab sued two weeks ago to prevent them from calling their former high-net-worth clients have been fired by their new employer, Morgan Stanley.