News, Vision & Voice for the Advisory Community


After Morgan Stanley 'raided' Schwab branch in San Francisco, Schwab fought in FINRA 'court' and lost, but perhaps won on the larger level

The San Francisco-based $2.4-trillion broker still isn't swallowing the loss and sent a clear message that it will battle tirelessly

Author Lisa Shidler September 4, 2014 at 4:40 PM
no description available
Andrew Stoltmann: Schwab has always been the big-eyed doe sitting off on the sidelines.

RIA Compliance

John F Reutemann, Jr.

John F Reutemann, Jr.

September 4, 2014 — 6:57 PM

Please…what purple Kool-aid were these ad visors drinking? They obviously whored themselves out to MS for money. Anyone stupid enough to leave Schwab for MS we should be happy to get rid of! What a frighteningly ignorant step backwards in technology, financial transparency, and God forgive us, actually doing the right thing for the client. JFR

Richard Allison Johnson

Richard Allison Johnson

September 4, 2014 — 8:03 PM

I never even attempted to convince Schwab clients to “follow me” when I left 10 years ago. Not because I was fearful of Schwab, but because my ethics would not allow it. What is wrong with people these days? Doesn’t anyone have any ethics anymore? If you sign a non-compete agreement, then you should abide by its terms. Period, point blank, end of story.



September 4, 2014 — 8:11 PM

I would never work for either of these organizations. Get out while you can.

Robert B Rowe Jr. CIMA GFS

Robert B Rowe Jr. CIMA GFS

September 8, 2014 — 4:02 PM

I find this article interesting from the perspective of; once again, a B/D abusing the mandatory FINRA arbitration system. The fact that it is against another well-funded RIA custodian platform adds to the curiosity.

I and many other FA’s have had similar evidence disclosure abuse problems within FINRA arbitrations, where a B/D’s lawyers simply chose to ignore, or otherwise completely abuse and manipulate the discovery/evidentiary due process. Unfortunately, I and most other advisors forced into the mandatory FINRA arbitrations (due to the U-4) do not possibly have the financial depth to fight the legal trickery and manipulations of the very experienced and well-funded B/D lawyers. Additional information and documentation of the <a rel="nofollow" title="E">SHAM</acronym> of the mandatory FINRA arbitration system may be found at www.RJAvsRBRoweFINRAarb.com </a>

<a rel="nofollow" title="E">

Bob Rowe


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