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Custom Wealth Management Data Breach

Posted on behalf of Arnold Law Firm in

NOTICE: If you received a NOTICE OF DATA BREACH letter from Custom Wealth Management, contact the Arnold Law Firm at (916) 777-7777 to discuss your legal options, or submit a confidential Case Evaluation form here.

On November 7, 2024, Custom Wealth Management (“CWM”) reported a significant cybersecurity incident to the Maine Attorney General’s Office. According to the notice, CWM identified a cybersecurity incident within its network on July 15, 2024. Its subsequent investigation revealed that an unauthorized party had accessed consumers’ private and sensitive personal information (the “Data Breach”). The Data Breach has impacted approximately 2,986 individuals. Recently, CWM began sending data breach notification letters to those affected by the Data Breach. Each notification letter includes complimentary access to credit monitoring and identity restoration services. If you received a data breach notification letter from CWM, it indicates that you were affected by the Data Breach.  Custom Wealth Management is a financial services firm headquartered in Overland Park, Kansas. With approximately 39,701 clients, CWM specializes in providing personalized wealth management solutions. Their services include financial planning, investment management, tax planning, estate planning, and retirement planning, all tailored to meet the unique needs and goals of their clients.

WHAT INFORMATION IS INVOLVED IN THE CUSTOM WEALTH MANAGEMENT DATA BREACH?

The type of compromised information varied among individuals and potentially included:
  • Names, 
  • Social Security numbers,
  • Dates of birth, 
  • Addresses.
This information is called your Personally Identifiable Information (“PII”). It tells others about you and is considered part of your identity. Businesses are required to secure this information or risk facing statutory penalties, among other legal penalties. Stolen PII can be used by identity thieves to engage in fraudulent activity using your identity.  The best way to protect yourself after a data breach is to sign up for credit and identity protection services as soon as possible.  California offers extra protections and legal rights to its residents through the California Consumer Privacy Act (“CCPA”). NOTICE: If you received a NOTICE OF DATA BREACH letter from Custom Wealth Management, contact the Arnold Law Firm at (916) 777-7777 to discuss your legal options, or submit a confidential Case Evaluation form here.

Settlement - $3,767,000

Truck Accident

A 20-year-old man who had been married for just 12 days left home on his way to work. He was driving on Pleasant Grove Road in Sutter County in the early morning when he came upon a slow-moving truck. As he pulled out to pass the truck, the truck driver turned left in front of him. The young man attempted to steer back into his lane but his vehicle struck an un-flagged piece of metal extending from the back of the truck. He died in the resulting crash.

Expert witnesses brought in by the Arnold Law Firm proved that the truck, owned and operated by a hauling firm, should never have been on the highway that morning. Specifically, the rear and side turn signals did not work and the rear-view mirror was in a poor state of adjustment at the time of the collision. As a result, the driver, who had failed to properly inspect the vehicle before setting out that morning, couldn’t see the young man’s vehicle as it attempted to pass.

The poor condition of the truck, its lack of maintenance and the manner in which it was operated were found to be substantial factors in causing the collision that killed the young man. The testimony also established that the man had been making a lawful pass at the lawful speed limit and acted reasonably when he attempted to avoid the collision.

The man’s 20-year-old widow was awarded $3,767,000.77, his parents were awarded $185,131 and the family was reimbursed $11,899 in funeral expenses. Though money is a poor substitute for a young man’s life, this verdict demonstrates that drivers who endanger the lives of others will be held accountable for their actions.