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Legal Challenges to Brokers' Cash Practices Mount. New Suits Target LPL, Ameriprise, UBS.

By MarketWatch   |   Aug 26, 2024 at 07:49 AM EST
Legal Challenges to Brokers' Cash Practices Mount. New Suits Target LPL, Ameriprise, UBS.

Ameriprise Financial, LPL Financial, and UBS are facing lawsuits over interest payments on clients' uninvested cash, accused of failing to act in clients' best interest by keeping cash in low-interest accounts despite rate hikes.

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