Former Roseville, California financial advisor Phillip Anderson (CRD# 814936) was recently suspended and fined in connection with alleged rule violations....
Read MoreWells Fargo Advisor Andy Hill Receives UIT Complaint
Riverbank financial advisor Andy Hill (CRD# 4606358) is involved in an investor complaint alleging his conduct resulted in damages. Records maintained by the Financial Industry Regulatory Authority show that he is currently registered as a broker and an investment advisor with Wells Fargo Clearing Services, including the firm’s offices in Atwater, Turlock, and Ceres.
Mr. Hill’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2023, alleges that as a representative of Wells Fargo, he “lied about the safety of investments.” The pending complaint, which concerns a unit investment trust (UIT) product, alleges unspecified damages.
An earlier investor complaint, filed in 2009, alleged that he purchased municipal bonds without the customer’s consent while at Wamu Investments. The complaint reached a settlement of $59,599.93.
A third investor complaint, filed in 2008, detailed unspecified allegations stemming from his conduct as a representative of Wamu Investments. The complaint reached a settlement of $17,422.72.
A fourth investor complaint, also filed in 2008, alleged that he misrepresented material facts relating to a variable annuity investment sold in April 2007. The complaint reached a settlement of $1,000.49.
A fifth investor complaint, filed in 2008, alleged unauthorized trading involving municipal bond products in May 2008. The complaint reached a settlement of $22,452.56.
According to the Financial Industry Regulatory Authority, Andy Hill holds 19 years of securities industry experience. Based in Riverbank, California, he has been a broker and an investment advisor with Wells Fargo Clearing Services since 2011. He is also registered with the firm’s offices in Atwater, Ceres, and Turlock, California. His past registrations include Wells Fargo Investments (Turlock, California; 2008-2011), Wamu Investments (Los Banos, California; 2006-2008), Merrill Lynch (Modesto, California; 2004-2006), and Morgan Stanley (Fresno, California; 2003). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; 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 is licensed in California, Kansas, Nevada, and Texas. (Information current as of May 7, 2023.)
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