Andy Egber: FINRA Bars Ex-Wells Fargo Advisor

Former Bethesda, Maryland financial advisor Andy Egber (CRD# 1894585) was recently sanctioned in connection with allegations of the theft of client funds. Financial Industry Regulatory Authority records show that he was previously registered with Steward Partners Investment Solutions, before which he was registered with Raymond James Financial Services and Wells Fargo Clearing Services.

A Letter of Acceptance, Waiver, and Consent (No. 2024081446201) released in April 2024 describes FINRA’s disciplinary action against Mr. Egber. in March 2024 Wells Fargo disclosed its internal review into “allegations of possible theft of client funds” by Mr. Egber. FINRA subsequently launched its own review, sending Mr. Egber a request to produce information and documents and to appear for on-the-record testimony. However, the Letter states, Mr. Egber informed FINRA via email that he would neither produce the requested documents or information, nor appear for on-the-record testimony “at any time.” FINRA found that his refusal violated FINRA Rules 8210 and 2010. In connection with these findings, it barred him from associating with any FINRA member firm in all capacities.

Mr. Egber’s BrokerCheck report discloses one recent investor complaint against him. Filed in February 2024, it alleges that as a representative of Wells Fargo Advisors, he facilitated an outside investment for which the customers’ funds “were not returned.” The pending complaint alleges unspecified damages.

According to the Financial Industry Regulatory Authority, Andy Egber holds 35 years of securities industry experience. Most recently based in Bethesda, Maryland, he was last registered with Steward Partners Investment Solutions from 2022 until 2024. His registration history includes Raymond James Financial Services (2018-2022), Wells Fargo Clearing Services (2009-2018), UBS Financial Services (2001-2009), and Legg Mason Wood Walker (1989-2001). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He has been barred from acting as a broker or otherwise associating with any FINRA member firm. (Information current as of April 29, 2024.)

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