Charles Schwab has won an injunction against one of its former brokers who left for LPL Financial, barring him from contacting Schwab clients, according to Finra.

The firm sought an injunction preventing Eric Oscar Wolf from soliciting clients from Schwab and seeking the return of any documents or information pertaining to Schwab clients, as well as compensatory damages and Finra fees and other costs, Finra says. Wolf, in turn, requested that Schwab’s claim be denied, and sought lawyers and experts’ fees and Finra costs as well as any relief deemed proper, according to the award document.

On January 9, however, Wolf agreed to a stipulated injunction, and he and Schwab agreed that the stipulated injunction would be entered as a stipulated award, Finra says. Under the terms of the injunction, Wolf cannot contact or solicit business from any Schwab clients through Jun. 8, 2021, nor use the clients’ records, according to the award.

But the arbitrators also ruled that the stipulated injunction is the final arbitration award, denying all of Schwab’s and Wolf’s other claims, Finra says.

Wolf began his career in the financial services industry with Schwab back in 1996, according to his BrokerCheck profile. He joined LPL in 2018, according to BrokerCheck.

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