Two weeks after it was sued for a program in which it makes money on parked client cash, LPL has been sued again by another client for the same reason. These accounts, known as cash sweeps, have ...

The cash sweep lawsuits continue to pile up, as Ameriprise Financial and LPL Financial were hit again this week with class action suits calling them to task for “paltry” interest rates paid to clients ...

LPL Financial is facing a second lawsuit over its cash sweep program. Douglas Nevitt, a 66-year-old Illinois construction retiree, has filed a suit in California federal court accusing the firm of ...

Merrill Lynch and two units of Wells Fargo have agreed to pay $60 million in combined penalties to settle Securities and Exchange Commission charges that they failed to consider the best interest of ...