Schwab Pursues Texas Broker Who Started His Own RIA

Charles Schwab & Co. for the second time in a week has sued a former broker in an attempt to block him from contacting former clients. The San Francisco-based broker-dealer on Tuesday asked a U.S. District Court judge in Texas’ western district to issue a preliminary injunction against John A. VanEngelenhoven, who had worked at Schwab for 14 years before leaving last September to open a registered investment advisory firm in Austin. If approved, the injunction would be in effect until FINRA arbitrators resolve a complaint filed concurrently by Schwab that seeks damages and a permanent injunction…READ MORE