The latest technology news in the wealth management sector from around the world.

Northern Trust, Broadridge
Northern Trust – due to issue third-quarter results on October 22 – said it is expanding its global asset recovery capabilities by using the class action technology of Broadridge Financial Solutions.

Enhancements of the new service include expanded coverage for more than 35 markets and, for the first time, support for β€œopt-in" markets where claimants can choose to take part in litigation before the suit is settled. Clients receive more detail about the lifecycle of their class action cases, such as upcoming filing deadlines, case summary and claim detail reports, and detailed listings of all claim distributions.

The complex details of class-action lawsuits have been a headache for years. And the sizes involved are significant issues that wealth managers must track. In 2024 alone, class action settlements reached $5.2 billion across 135 cases worldwide.

β€œWith the rising complexity and volume of securities class actions, financial institutions must seize every opportunity to protect and recover assets through best-in-class stewardship practices,” Steve Cirami, senior vice president, general manager of US proxy, corporate actions and global class actions at Broadridge, said.