investor daily logo

iShares data leak exposes 20k advisers

By Reporter
2 minute read

A data leak at wealth giant Blackrock exposed the names and email addresses of around 20,000 advisers.

Investor Daily understands that the asset manager accidentally released information on thousands of independent financial advisers on its website, including information on top performers with designations such as ‘club level’ and ‘chairman’s club’. 

Bloomberg this week reported that the data leak also exposed the personal information of 12,000 advisers from LPL Financial, the largest independent broker in the US. 

“BlackRock inadvertently posted a small number of sales-related documents, which were up for a short period of time, and promptly removed,” the company in a statement. 

“The information related to a very limited number of wealth management platforms impacting approximately 20,000 independent advisers in the US.”

According to Bloomberg, the leak affected advisers who do business with BlackRock’s iShares exchange-traded funds unit.

BlackRock said the leak was caused by human error rather than a security breach.