Some investors have supposedly experienced damages because of securities broker Andrew David Schell [CRD: 6536347, Colorado Springs, Colorado], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Notably, Schell worked for D.A. Davidson Co. from January 16, 2020, to March 28, 2022, and previously for Merrill Lynch Pierce Fenner Smith Incorporated from September 18, 2015, to January 21, 2020. Continue reading to learn more about Schell's disclosures and the allegations made about him.
Notably, a client of D.A. Davidson Co. lodged a complaint about Andrew Schell. Mainly, the client contended that Schell's trading strategy involving options and stocks in non-discretionary advisory accounts was unsuitable. Furthermore, the client claimed that Schell exercised discretion without proper authorization and violated industry rules. The alleged misconduct occurred from February 4, 2020, to February 15, 2023. Due to these actions, the client purportedly sustained damages amounting to $270,052.09. Ultimately, D.A. Davidson Co. chose to resolve this issue by compensating the client $129,750 in damages.
Also, Andrew Schell faced allegations from a client of D.A. Davidson Co., according to a formal complaint. Allegedly, Schell's stock trading strategy in non-discretionary advisory accounts was unsuitable, and he exercised discretion without the necessary authorization, failing to act in the client's best interest. These incidents reportedly occurred between June 25, 2020, and February 28, 2022. Consequently, the client claimed to have suffered damages of $265,000. The complaint, received on November 18, 2022, was settled by December 22, 2022, with D.A. Davidson Co. agreeing to a settlement amount of $175,000.
Additionally, a client filed a complaint about Andrew Schell with D.A. Davidson Co. The client alleged that Schell exercised discretion in non-discretionary advisory accounts without their written authorization. This purported misconduct took place from December 31, 2020, to February 28, 2022. The products at the center of this dispute were stocks and options. As a result of these actions, the client reportedly sustained damages totaling $36,801. The complaint, received on June 14, 2022, was resolved by June 22, 2022. To settle this matter, D.A. Davidson Co. paid the client $36,801.
Evidently, a client of D.A. Davidson Co. contested Andrew Schell’s sales practices, according to a complaint. Allegedly, Schell exercised discretion in non-discretionary advisory accounts without their written authorization, during the period from February 6, 2020, to February 28, 2022. It appears that Schell caused the client to sustain damages on stocks and options. Therefore, D.A. Davidson Co. opted to settle the matter on May 31, 2022, by compensating the client in the amount of $32,614.
Moreover, a client filed a complaint about Andrew Schell, stemming from his tenure at D.A. Davidson Co. Specifically, the client alleged that Schell exercised discretion in non-discretionary advisory accounts without proper written authorization between February 13, 2020, and February 28, 2022. The complaint, involving stocks and options, led to alleged damages of $21,867. D.A. Davidson Co. resolved this issue by settling with the client for $21,867, on April 18, 2022.
Have you experienced damages due to Andrew Schell ? If this situation resonates with you, consider contacting Soreide Law Group. You can reach them online or call at (888) 760-6552 to discuss the possibility of recovering your investment losses. Soreide Law Group has a track record of retrieving losses for investors nationwide, works on a contingency fee basis, and covers all costs upfront. Please note that Schell and the brokerage firms he worked for deny alleged sales practice violations.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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