Leave Schwab at your own peril.
It is not just the RIA's that Schwab bullies. The in house Advisers that want to leave the mother ship and start their own RIA, or join an Independent RIA, are scrubbed, and scrutinized and sometimes the company to whom they want to go to, is called and threatened with removal from the Schwab platform.
Many individuals contacted me when they saw this website, but they did not want to go on the record. One man could not land a job for over 18 months, because Schwab contacted the RIA firm he was thinking of moving to. Two other men contacted me and said they too wanted to remain anonymous, but Schwab did everything including filing a U-5, to prevent them from securing employment.
They viciously attack anyone who leaves.
It is not just the Independent RIA's. I guess that makes sense right. A junk yard dog does not discriminate.
Just learned something else today about how Schwab pursues in house financial consultants when they leave. They wait as long as possible and if any accounts have left the former consultants book, they file FINRA arbitration under the assumption the departing consultant took the client. Max pressure. Max pain.