Data Breach Summary
McKay Wealth Management, a financial planning and asset management firm, has disclosed a data breach involving unauthorized access to an employee’s email account. The breach was identified after unusual activity was noticed in the account between June 28, 2024, and September 19, 2024. An investigation confirmed that an unknown actor had gained access to the account, potentially compromising personal information.
The breached email account contained sensitive personal information, including names and Social Security numbers, among other data elements. McKay’s investigation, which was completed by April 6, 2025, identified the scope of the affected data and included a review of the email account for any personal information.
Upon discovering the breach, McKay took immediate action to secure the compromised email account and assess the broader security of its email environment. The company also notified relevant business partners and federal law enforcement authorities. In addition, McKay has reviewed its internal policies and procedures related to data security to ensure future incidents are mitigated.
As a precautionary measure, McKay is offering complimentary credit monitoring services for 24 months to those affected by the breach. Affected individuals are encouraged to enroll in these services, which are being provided through Experian at no cost.
McKay began notifying affected individuals on May 7, 2025, and provided them with details about the breach, including the types of personal information involved and resources to help protect against identity theft. Additionally, McKay has posted a notice about the breach on its website and has notified relevant state regulators, including the three major credit reporting agencies—Equifax, Experian, and TransUnion.
The breached data may have included personal identifiers such as:
Full names
Additional sensitive data related to the affected individuals (specifics on the data sets are not disclosed)
The personal and sensitive information compromised in this breach includes elements that could lead to serious privacy issues for the affected individuals. Those impacted are at an increased risk of identity theft, where their information could be used without their knowledge to commit fraud or other illegal activities.
If your personal information has been breached, it’s important to take immediate and proactive steps to minimize the potential impact and protect yourself from identity theft or fraud. Here are some general actions that you should consider taking:
Monitor Credit Reports: Check your credit reports regularly for suspicious activity.
Place a Fraud Alert or Credit Freeze: Set up a fraud alert or freeze your credit to prevent unauthorized access.
Monitor Financial Accounts: Review bank and credit card statements for unfamiliar transactions.
Watch for Phishing Scams: Be cautious of unsolicited requests for personal information.
Change Passwords: Update passwords for online accounts and use strong, unique ones.
Enable Two-Factor Authentication: Add an extra layer of security to online accounts.
Review Health and Insurance Info: Check for fraudulent charges if health data was exposed.
If you were impacted by the McKay Wealth Management data breach, you may have the right to seek compensation for the potential harm caused. Class Action U is dedicated to helping data breach victims connect with skilled attorneys who specialize in this area of law and can guide you through the legal process.
Individuals whose personal information was exposed may have valid grounds to join a class action lawsuit, allowing them to pursue restitution.
If your data was compromised, you could be entitled to compensation for:
Loss of privacy
Time spent resolving the breach
Out-of-pocket expenses
Emotional distress
By pursuing a class action lawsuit, you not only have the opportunity to recover damages but also help hold McKay Wealth Management accountable, potentially prompting them to strengthen their security measures. Reach out to Class Action U today to find out if you qualify for a data breach class action and learn more about the compensation you may be entitled to.
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