Financial advisors plan protest against Charles Schwab

Wall Street sign

Wall Street’s big banks are squeezing financial advisors and their clients out, industry veterans are saying.

The New York Post reports that dozens of these advisors are attempting to organize a nationwide protest movement against one of the industry’s most iconic discount brokers, Charles Schwab.

The protesters, led by Michael Kelly, an outspoken former Schwab registered investment adviser, accuses Schwab of engaging in 'questionable' and 'unfair' employee terminations, driven by unbridled greed. Some of this group demonstrated outside a high-profile Schwab conference this month in Washington, DC, holding a sign outside that read: 'Charles Schwab: Learn the Truth About How They Terminate'.

It was a p.r. nightmare for Schwab, say observers. Some 1,500 advisers and top-tier management attended this conference.

'They only do this to the small guys, by the way', Kelly told The Post, referring to his termination by Schwab.

To access the complete New York Post article hit the link below:

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