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Andy Rodgers: Mainspring Wealth Advisor Had $134K Investor Complaint
Raymond James financial advisor Andy Rodgers (CRD# 2277643) recently received an investor complaint alleging six-figure losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor in Tukwila, Washington, where he is a representative of Mainspring Wealth Advisors.
Mr. Rodgers’ BrokerCheck report discloses one investor complaint. Filed in May 2022, the complaint alleged that as a representative of Raymond James Financial Services, he failed to uphold his fiduciary duty while he was managing a discretionary account. The complaint alleged damages of $134,953 and was denied by the firm. (When a complaint is denied by the firm that receives it, this denial does not necessarily mean it was meritless. Investors can still pursue recovery through other actions, like FINRA arbitration claims.)
For reference, the fiduciary standard stipulates that investment advisors must put their clients’ interests above their own, make full disclosures regarding any conflicts of interest they have, and operate in good faith and with loyalty to the client. An investment advisor’s fiduciary duty is similar to but distinct from the suitability standard requiring brokers to recommend investments and strategies that are appropriate for a customer’s background and objectives.
According to the Financial Industry Regulatory Authority, Andy Rodgers holds 18 years of securities industry experience. Based in Tukwila, Washington, he has been a broker and an investment advisor with Raymond James since 2012. He is also a representative of Mainspring Wealth Advisors, which offers advisory services through Raymond James. His past registrations include BrokersXPress (Burien, Washington; 2010-2012), Raymond James Financial Services (Seattle, Washington; 2010), AXA Advisors (Bellevue, Washington; 2009-2010), National Securities (Boca Raton, Florida; 1993-1998), Suppes Securities (New York, New York; 1993), and Franklin-Lord (Scottsdale, Arizona; 1992). 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 Combined State Law Examination, or Series 66. He is licensed in Alaska, Arizona, California, Florida, Idaho, Kentucky, Massachusetts, Missouri, Montana, New Jersey, New York, Oregon, Texas, Utah, Virginia, and Washington. (Information current as of August 30, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.