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Schwab Accuses RIA of Using Trade Secrets to Divert Over $85M in Assets
News December 15, 2025 at 10:50 AM
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What You Need To Know
- Schwab has sued Davies Financial Advisors, a California-based RIA with about $288 million in AUM.
- The suit alleges that a former Schwab financial consultant improperly used client information.
- The consultant, who is not a defendant, used LinkedIn to contact clients in breach of an agreement with Schwab, the suit states.
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