Andrew Egber Barred By FINRA, Involved In Wells Fargo Client Disputes

Investors complained about securities broker Andrew Joseph Egber (also known as Andy Joseph Egber), and Financial Industry Regulatory Authority (FINRA) barred him from the securities industry [CRD: 1894585, Bethesda, Maryland, according to disclosures on FINRA BrokerCheck. Evidently, Andrew Egber worked for Steward Partners Investment Solutions LLC from May 27, 2022, to April 18, 2024, Raymond James Financial Services Inc. from January 12, 2018, to May 27, 2022, and Wells Fargo Clearing Services LLC from February 27, 2009, to January 19, 2018. Here’s more on the disciplinary action and customer dispute.

FINRA Barred Egber For Refusing To Cooperate In Investigation

Specifically, on April 26, 2024, FINRA issued AWC: 2024081446201 sanctioning Andrew Egber. Specifically, Egber was barred from associating with any FINRA member in all capacities indefinitely for violating FINRA Rules 8210 and 2010. Notably, FINRA alleged that Egber refused to produce documents and information requested by FINRA in connection with its investigation of allegations made on a Form U5 filed by his employer.

The regulatory action stems from an internal review initiated by Wells Fargo Clearing Services LLC, where Egber was employed. On March 3, 2024, Wells Fargo filed an amendment to Egber's Form U5, indicating they were reviewing allegations of possible theft of client funds by the broker. Subsequently, on March 29, 2024, FINRA requested documents and information from Egber and also asked him to testify. In April 2024, Egber acknowledged receiving FINRA's requests but refused to comply.

Raymond James Financial Services Inc. Investor Accused Andrew Egber Of Unauthorized Transaction

Also, on April 25, 2024, a Raymond James Financial Services Inc. client filed a complaint about Andrew Egber. Mainly, the client alleged that Egber made an outside investment in real estate securities, where funds were not returned to the client. Because of this, the client allegedly sustained damages. As a result, the client requested $135,000 in compensation from Raymond James Financial Services Inc. or Egber.

Egber Disclosed Sales Practice Allegations By Wells Fargo Advisors LLC Client

Evidently, a client of Wells Fargo Advisors LLC contested Andrew Egber’s sales practices, according to a complaint dated February 15, 2024. Allegedly, Egber made an outside investment through a financial advisory with the client’s funds. For allegedly failing to return the funds, the client sought damages from Wells Fargo Advisors LLC or Egber in this matter. Ultimately, the firm settled for $98,736.00 in damages.

Legg Mason Wood Walker Inc. Investor Accused Andrew Egber Of Unsuitable Recommendations

Particularly, on May 2, 2001, a Legg Mason Wood Walker Inc. client filed a complaint about Andrew Egber. Supposedly, Egber made unsuitable recommendations about municipal bonds. Because of this, the client requested $6,300 in compensation from the firm or Egber. The securities firm denied this dispute.

Did You Sustain Losses Because Of Securities Broker Egber?

Did you suffer financially because of Andrew Egber? You could get in touch with Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a potential recovery of your investment losses. Soreide Law Group helps investors throughout the country, works on a contingency fee basis, and advances all costs. Egber and brokerage firms Egber worked for deny accusations of sales practice violations.