Andy Martz: $50K Bond Complaint Against LPL Advisor

Southlake, Texas financial advisor Andy Martz (CRD# 5118326) allegedly recommended an investment that was not in his client’s best interest, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with LPL Financial, doing business as WIS Advisors.

Mr. Martz’s BrokerCheck report discloses two investor complaints. The most recent, filed in March 2026, alleges that as a representative of LPL Financial, he violated Regulation Best Interest in connection with corporate bond investments. The complaint reached a settlement of $50,000.

An earlier investor complaint, filed in 2014, alleged that as a representative of JP Morgan Securities, he made misrepresentations in connection with a variable annuity investment. The complaint alleged damages of $26,000 and was denied by the firm.

Investors should be aware of the SEC’s “Regulation Best Interest,” a standard of conduct requiring advisors like Mr. Martz to recommend only investments and investment strategies that are in their clients’ best interests. Both broker-dealer firms and their registered representatives are beholden to a “Care Obligation, per the regulation,” under which they must “have a reasonable basis to believe that each recommendation or series of recommendations made is in the best interest of the particular retail customer and does not place their financial or other interests ahead of the interest of the retail customer.” Regulation BI states additionally that brokers and advisors must inform their customers of any potential conflicts of interests that might consciously or unconsciously result in them providing “advice that is not disinterested,” as FINRA explains. More information about these rules is available via FINRA.

According to the Financial Industry Regulatory Authority, Andrew Martz holds 18 years of securities industry experience. Based in Southlake, Texas, he has been registered as a broker and an investment advisor with LPL Financial since 2025, doing business as WIS Advisors. His past registrations include Western International Securities, JP Morgan Securities, Chase Investment Services, First Investors Corporation, and Laidlaw & Company. 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 holds 35 state licenses. (Information current as of May 10, 2026.)

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