Complex sentence: The following year, Schwab rolled out new "fund-of-funds" portfolios and began giving advice to clients-seen to be violation of the unwritten agreement Schwab had with the independent financial advisers.
Split into simpler sentences: The following year, Schwab rolled out new "fund-of-funds" portfolios and began giving advice to clients. This was seen to be a violation of the unwritten agreement Schwab had with the independent financial advisers.