Wealth Management
 
WealthManagment.com Daily Memo
Wealth Management Daily Memo

JULY 19, 2024

INDUSTRY


LPL Faces Legal Challenge Over Cash Sweep Program
Alleged LPL customer Daniel Peters is seeking a class action suit, accusing the firm of pocketing most of the interest generated in cash sweep accounts.

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TECHNOLOGY

Global IT Outage Affecting Microsoft Systems Hits Wealth Management

The outage began early Friday morning with a software update from the cybersecurity provider Crowdstrike as the likely culprit. Schwab posted on its website a message warning users of potential issues.

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RESOURCE CENTER
Focus on the Future: Adapting to the Next Generation of Investors
Industry leaders discuss the role of Diversity, Equity and Inclusion in shaping the future of wealth management.
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ALTERNATIVE INVESTMENTS

Abacus Life to Acquire $2B Alts Manager

Dynasty Investment Bank advised Abacus, which launched a wealth management division last year, on the deal with Carlisle Management.

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ETFS

ETF Issuers Stay Active in June: Part 2

ETF managers remained busy in closing out the first half of 2024. Overall, asset mangers launched 50 ETFs in June.

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WEBINAR
Navigating the Tech Evolution: Lessons from Top Buy-Side CTOs
Join our webinar on July 22, 2024, to learn from top buy-side CTOs about navigating tech evolution in wealth management, covering change management, cybersecurity, AI, and more!
Register Now >