Andres Fernandez: $1.4mm Complaint Against Wealth Enhancement Advisor

A recent investor complaint against Great Neck, New York financial advisor Andres Fernandez (CRD# 5868791) alleges that his conduct resulted in damages. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Charles Schwab broker is currently registered as an investment advisor with Wealth Enhancement Advisory Services.

Mr. Fernandez’s BrokerCheck report discloses one investor complaint. Filed in December 2025, it alleges that as a representative of Wealth Enhancement Advisory Services, he engaged in “various alleged causes of action” in connection with options investments. The pending complaint alleges damages of $1.4 million. In a statement included with the disclosure, Mr. Fernandez defends himself against the allegations, writing: “The Advisor vehemently denies all allegations in this matter and will vigorously defend the against these claims.”

The pending investor complaint does not specify which causes of action are alleged against Mr. Fernandez. For reference, however, many industry rules protect investors against numerous potential forms of misconduct. FINRA Rule 2111, for instance, stipulates that brokers and firms must “have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” Brokers who lack that reasonable basis, or who recommend transactions that aren’t suitable for their customers, are considered to have violated Rule 2111. FINRA Rule 2010, meanwhile, requires FINRA-associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Many types of unethical conduct, including the mismanagement of accounts or the failure to follow a customer’s instructions, may be found to constitute violations of FINRA Rule 2010, provided the alleged activities occur “in the conduct of [the member’s] business.” Brokers who violate these rules may be held liable for damages and/or subject to disciplinary action by securities regulatory authorities.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Andres Fernandez holds 14 years of securities industry experience. Based in Great Neck, New York, he has been registered as an investment advisor with Wealth Enhancement Advisory Services since 2022. His past registrations include Kings Point Capital Management, Charles Schwab & Company, JP Morgan Securities, PNC Investments, Morgan Stanley Smith Barney, and Edward Jones. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He is licensed in New York, Tennessee, and Texas. (Information current as of March 14, 2026.)

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