BlackRock Inadvertently Exposes 20,000 wealth management FAs‘ on its Website

20,000 Financial advisors, including 12,000 from LPL, had their email addresses, names, and other information exposed in a data leak at BlackRock last week, as first reported by Bloomberg.

The company in a statement said that a limited number of wealth management platforms were impacted by the breach. The exposed advisors for BlackRock and LPL also included classifications based on their performance (club level, chairman‘s club, et al).

The breach was due to human error, and that there was no security breach.

LPL according to Bloomberg had another data breach at a vendor firm, Capital Forensics.

Cybersecurity is among the top concerns for investment managers in 2019.

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Written by

Daniel Enskat

Daniel has written over a dozen books on the global asset management industry and has lectured at universities around the world alongside speakers such as Secretary of State John Kerry, Dr. Mark Mobius, ex-Fed Chairman Alan Greenspan, Professor KC Chan and former Prime Minister Gerhard Schroeder.

He is widely sought after for presentations, discussions and his perspective on the global asset management industry, and in the last two decades has advised hundreds of investment management CEOs on strategy and global expansion.