Andrew Joseph Egber (also known as Andy Egber), of Rockville, Maryland, a stockbroker registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Egber refused to cooperate with an investigation into whether he misappropriated or “stole money from a customer.” Letter of Acceptance, Waiver, and Consent No. 2024081446201 (April 26, 2024).
According to the AWC, in March 2024, allegations of theft of customer funds by Egber surfaced at Wells Fargo, prompting the company’s internal review. This was noted in an amendment to a Form U5 (Uniform Termination Notice for Securities Industry Registration) filed by Wells Fargo.
On March 29, 2024, FINRA requested Egber to appear for testimony as part of their investigation and provide documents to the regulator. Egber, however, refused to produce the requested information or to testify regarding the matters under investigation. This refusal led FINRA to conclude that Egber violated both FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Egber has been involved in two customer disputes involving his conduct in the securities industry. On May 2, 2001, a customer filed an investment related complaint involving Egber’s conduct in which the customer requested $6,300.00 in damages based upon allegations that Egber made unsuitable recommendations in municipal bonds during the period that Egber was associated with Legg Mason Wood Walker Inc. The securities broker dealer denied this complaint.
Egber is also referenced in a customer initiated investment related complaint filed on February 15, 2024, in which the customer requested damages estimated to exceed $5,000.00 resulting from an investment that Egber allegedly solicited outside the auspices of Wells Fargo Advisors.
Egber was associated with Steward Partners Investment Solutions LLC in Bethesda, Maryland from May 27, 2022, to April 18, 2024; Raymond James Financial Services Inc. in Bethesda, Maryland from January 12, 2018, to May 27, 2022; and Wells Fargo Clearing Services LLC in Rockville, Maryland from February 27, 2009, to January 19, 2018.
