Andrew Montgomery: Why Was LBMZ Advisor Fired?

Wilmington, Delaware financial advisor Andrew Montgomery (CRD# 5668018) was terminated by his former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the former LBMZ and Zacks Investment Management advisor is currently registered as a broker with Realta Equities.

Mr. Montgomery’s BrokerCheck report discloses his terminations from LBMZ Securities and Zacks Investment Management. Filed in June and July 2026, they state that the firms fired him in connection with allegations that he participated in an outside business activity and a private securities transaction, and that he solicited other individuals to invest in private securities, all of this beyond the scope of his registration with LBMZ Securities and Zacks and without disclosure to or approval from either firm.

In a statement included with the disclosures, Mr. Montgomery responded to the allegations underlying his firing, acknowledging that he invested his funds into “Accrew pursuant to a SAFE.” He wrote further that the investment was separate from Accrew’s Wefunder Regulation Crowdfunding offering and that it didn’t involve any solicitation of outside investors. “Applicant disputes the former firms’ characterization that he solicited investors or engaged in selling away while associated with LBMZ Securities, Inc,” he added. “Applicant further disputes any characterization that he admitted or ‘confirmed’ wrongdoing. The affirmative response to Question 14J(1) is being made to disclose the former firms’ allegations as required and does not constitute an admission that those allegations are true or that Applicant violated any securities law, FINRA rule, or regulation.”

For reference, FINRA Rule 3280 states that brokers like Mr. Montgomery may not undertake private securities transactions—transactions involving investments unapproved by their firm—without first providing written notice to their firm. In cases where they have received or may receive selling compensation for the transaction, they must obtain their firm’s written approval. Private securities transactions can create risks for the investor, given that they involve investments not vetted by the firm. Brokers who recommend private securities transactions may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Andrew Montgomery holds 13 years of securities industry experience. Based in Wilmington, Delaware, he has been registered as a broker with Realta Equities since 2026. His past registrations include Zacks Investment Management, LBMZ Securities, and National Securities. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. (Information current as of September 7, 2026.)

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