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Schwab Advisor Services's 'very tight ship' sprung leak that may signal a flood of SEC actions against custodians, leading to potential crack down on RIAs

The $1.6-trillion RIA custodian in San Francisco settles SEC lawsuit in a day by paying a $2.8 million fine in a case meant to be a 'shot across the bow' of custodians and RIAs, say analysts

Author Oisin Breen August 3, 2018 at 12:24 AM
1 Comment
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Rob Farmer: The activity at the heart of this case was the result of Schwab having a robust compliance process designed to protect our customers.

RIA Compliance

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RIA Custodians


Sammy

Sammy

August 3, 2018 — 7:59 PM
One more misdirected enforcement case to mask the lack of real oversight going on in the industry. No one dare go after the real issues that are taking place across the spectrum.

Related Moves

January 11, 2025 at 3:01 AM

Pathstone reclaims by poach Schwab’s family office division unit head, Eddie Brown, weeks after the Lovell Minnick ultrahigh-net-worth roll-up snapped up a $50 billion RIA

Brown's hire is also something of a 'reunion', given his near 15 years at Pathstone, and through family office roles at both Fidelity and Schwab.

November 14, 2024 at 7:23 PM

Ex-PR chief of Schwab Advisor Services reappears at StreetCred while Schwab loses a corporate PR head and gains a new one to 'protect the brand' after a rough 2023

Rob Farmer joins Jimmy Moock, Emma Smith, Will Ruben and Jason Lahita at StreetCred; Andrew Wyse, an ex-Pepsi PR honcho, joins Schwab after Joe Carberry departure in January.

April 20, 2024 at 2:54 AM

A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 AM

See more related moves

Mentioned in this article:

MarketCounsel | HamburgerLaw
Compliance Expert, RIA Set-up Firm, Regulatory Consultant
Top Executive: Brian Hamburger



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