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DriveWealth data security incident

Last updated: 25 September 2026

DriveWealth, a former broker partner of Pearler (2025), recently experienced a data security incident involving personal information relating to some Pearler customers.
Importantly, Pearler’s systems were not breached. Pearler account and holdings were not accessed or affected, and Pearler login details remain secure. If you want to make sure or check anything, please reach out to us via help@pearler.com.
Pearler has contacted the Office of the Australian Information Commissioner (OAIC) regarding this incident and will continue to engage with the OAIC as appropriate.

What we know so far

DriveWealth told us it had found a data breach in part of its systems, and has since confirmed that Pearler customer information was impacted. The sections below outline what information was and was not taken, and we will update this page as those answers come in.

Why DriveWealth has information about you

Pearler partners with a range of institutional partners to help you log in, invest, transfer or track your wealth. Buying certain types of shares means going through a broker like DriveWealth, and up until September 2025 they were who we partnered with. When you opened an investing account with us, we may have passed on the details DriveWealth needed to open and run that account in your name, and it has regulatory obligations to hold that data for six years, even if you haven’t made an investment.
We moved from DriveWealth to Alpaca on 3 September 2025. DriveWealth has not transacted on any Pearler accounts since then and we have not supplied them with any new data since that date. What it kept is the record of the years when it was our broker, and that record is what the data security breach involves.

What was exposed

Not all Pearler customers were affected. This incident only relates to certain customers who held a Pearler investing account while DriveWealth was Pearler’s international broker. The information involved varies between affected customers and may include some or all of the following:

  • Name, email address, phone number and postal address.

  • Tax status (in practice, country of tax residency).

  • Investment profile (the information you gave Pearler when you signed up — a snapshot of your annual income, net worth and liquid net worth).

  • The tax file number (TFN) or date of birth of the secondary account holder, if any (only for some joint accounts).

  • Historic market value snapshot of your US portfolio, if any, but not individual holdings.

  • A cash balance and buying power snapshot, only of what was in your US account, if anything.

If you are affected, the emails you receive from Pearler and DriveWealth will identify the types of personal information involved in your case. As the information affected varies from person to person, we cannot provide individual details on this page.

What was not exposed

DriveWealth’s investigation has determined that the following was not accessed:

  • Pearler login credentials and passwords (we don’t send these to DriveWealth or any partner).

  • Bank account details.

  • Identity document details and images, including passports and driver licences.

  • Individual security positions or trading history.

If you have closed your Pearler account

Some customers opened a Pearler investing account several years ago and have since moved to another provider or closed their Pearler account. If your personal information was involved, we will still contact you using the last email address recorded for your account.
If you believe that email address may be out of date, please contact us at help@pearler.com so we can ensure you receive the relevant information.

What we have done, and what happens next

We have asked DriveWealth to confirm what personal information it continues to hold about Pearler customers, retain only the information it is legally required to keep, and securely delete the rest.
We are contacting every customer identified as affected. If you do not receive an email from us, our current records do not indicate that your personal information was involved.

Steps worth taking now

Your Pearler credentials were not involved, so there is nothing you have to do. But the details that were taken could be used by scammers, so please take the necessary precautions.

  1. Treat unexpected contact with suspicion, including contact that looks like it is from us. We will never call or message you asking for your password, your PIN or a one-time code. If a message asks you to log in, do not use its link. Open the Pearler app yourself.

  2. Have a look over your Pearler account. Check your holdings, your transfers, and whether any contact or bank details have changed without you.

  3. Make sure we can reach you. If your email address or mobile number is out of date, update it, so that real messages from us get through.

  4. Change your Pearler password if you use the same one anywhere else.

  5. If your TFN or date of birth was involved, consider asking Equifax, Experian and Illion for a free ban or alert on your credit file.

  6. Turn on two-factor or passkey authentication if you have not already. An authenticator app is safer than SMS, which can be intercepted.

Where to get help

  • IDCARE (idcare.org) is a free service for Australians worried about identity theft. They are the best first call if something has already gone wrong.

  • Scamwatch (scamwatch.gov.au) is where to report a scam attempt.

  • The Office of the Australian Information Commissioner (oaic.gov.au) explains your privacy rights and how to complain.

  • Or contact us directly at help@pearler.com.

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