Ameriprise Sues LPL Financial Over Alleged Misappropriation of Client Data on July 30, 2024

Jul 30, 2024, 07:11 PM

On July 30, 2024, Ameriprise Financial filed a lawsuit in a U.S. district court against LPL Financial, alleging that LPL improperly handled and misappropriated client data and trade secrets during advisor transitions. Ameriprise claims that LPL harvested and misused confidential client information, violating legal, regulatory, and industry obligations.