Cybersecurity Breaches Target Financial Advisors in Recent Months Financial advisory firms have faced a surge in cyberattacks, with three major incidents reported in late 2023, exposing client data and enabling fraudulent trading schemes. LPL Financial Breach (September–October 2023) LPL Financial, the largest U.S. broker-dealer with 32,000 advisors, disclosed a breach on December 26, affecting 53 individuals, including one Maine resident. The company revealed that foreign threat actors compromised advisor accounts to execute a "hack pump-and-dump" scheme, artificially inflating stock prices through unauthorized transactions. LPL contained the incident and reported no ongoing issues, though law enforcement was notified. Ameriprise Financial Phishing Attack (December 2023) Ameriprise Financial, with over 10,000 advisors, reported a breach on December 30 after a phishing email tricked an advisor into exposing client data. The fraudulent email, disguised as a legitimate client communication, may have impacted 598 individuals, including 52 in Maine. While no evidence of data misuse was found, Ameriprise offered credit monitoring and emphasized its security measures, including an online security guarantee. Ashton Thomas Private Wealth Breach (May–September 2023) Scottsdale-based Ashton Thomas Private Wealth, managing $1.7 billion in assets, notified clients of a breach affecting 1,644 individuals, including three in Maine. Unusual activity in firm email accounts exposed sensitive data, such as children’s names, addresses, birthdates, and Social Security numbers. The firm hired forensic experts and offered credit monitoring to affected clients. All three firms reported bolstering security measures following the incidents. The breaches highlight the growing threat of cyberattacks targeting financial advisors and their clients.