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.
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.
According to the brokerage regulator, Laura Casey purchased securities in clients’ brokerage accounts when she could have avoided sales charges by using advisory accounts.
After a rough 2022 with negative growth rates across the board, many independent RIAs rebounded last year, posting median organic growth of 5%, according to Schwab’s RIA Benchmarking report.