Haselkorn & Thibaut has opened a formal investigation into the activities of Fabio de Andrade (CRD #4671838), a Kansas City, Missouri-based financial advisor registered with Merrill Lynch. This investigation follows recent disclosures of significant investor complaints, including a pending $24 million claim, that highlight concerns about the recommendations and account management practices of this advisor.
About Fabio de Andrade: Merrill Lynch, Kansas City, Missouri
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Fabio de Andrade has accumulated over 22 years of experience in the securities industry. He has been a broker and investment advisor with Merrill Lynch in Kansas City, Missouri since 2004, and previously worked at NYLife Securities in New York. Mr. de Andrade is licensed in 20 states and has passed multiple securities industry exams, including the Series 7, Series 63, Series 66, SIE, Series 6, and Series 31, signaling a broad qualification base for product recommendations and investment management. However, recent regulatory records highlight several red flags that investors should review carefully.
Complete List of Disclosures and Complaints: Fabio de Andrade (CRD #4671838)
| Date | Nature of Allegation | Firm | Status | Claimed Damages |
|---|---|---|---|---|
| February 2026 | Recommended unsuitable investments in government bonds and mutual funds | Merrill Lynch | Pending | $24,713,303 |
| 2023 | Alleged unauthorized trades in client’s account | Merrill Lynch | Denied by firm | Unspecified |
As of March 2026, the most recent and significant complaint is still pending and alleges eight-figure damages stemming from investments deemed unsuitable for the client’s specific profile.
Key Regulatory Rules for Clients to Know
- FINRA Rule 2111 – Suitability: Requires that financial advisors recommend only those investments appropriate for each client’s needs, risk tolerance, investment objectives, and overall profile. Recommending unsuitable products can result in advisor liability and regulatory action.
- FINRA Rule 2020 – No Manipulation or Fraud: Prohibits brokers from any deceptive, manipulative, or fraudulent behavior in the sale or recommendation of securities.
- FINRA Rule 2010 – Standards of Commercial Honor: Brokers must adhere to high standards of ethical conduct, which includes the avoidance of unauthorized or unsuitable trading.
- FINRA Rule 3260 – Discretionary Trading: Requires written authorization from the client and the broker-dealer for any discretionary accounts or trades. Unauthorized trades are strictly prohibited.
What Do These Complaints Mean for Kansas City Investors?
If you worked with Fabio de Andrade at Merrill Lynch in Kansas City and experienced large losses, it could be critical to examine whether the trades or investment strategies proposed for your account matched your stated investment goals and risk tolerance. Investor complaints like unsuitable recommendations or unauthorized trades can be an early warning sign of larger compliance or supervision issues in an advisor’s practice.
Notably, the $24 million pending complaint stands out both in size and the nature of the allegations—suggesting a potentially systemic mismatch between client goals and recommended products. While every complaint is merely an allegation until resolved, these are not isolated incidents and should encourage all clients (or their heirs) to closely review their account documentation and correspondence for any red flags.
How to Check Fabio de Andrade’s Regulatory Record
For peace of mind, you can independently review the full public regulatory record for Fabio de Andrade using FINRA BrokerCheck. Enter his name or CRD number (4671838) to see disclosure history, exams passed, employment history, and additional client complaints, if any.
Red Flags to Watch Out For
- Multiple investor complaints in a relatively short time period
- Poor communication or reluctance to provide trade confirmations or account statements
- Sudden, significant changes in investment strategy or portfolio composition
- Trading or transactions you do not recognize or did not approve in writing
- Recommendations of complex, unfamiliar, or high-commission products inconsistent with your goals
Your Rights as an Investor
Investors have the right to demand that all trades and investment strategies be fully explained and match the agreed risk profile. If you have suffered significant losses or suspect any irregularities in your account managed by Fabio de Andrade at Merrill Lynch, it is vital to act quickly. There are time limits (statutes of limitations) for bringing claims and recovering losses.
Free Consultation: Haselkorn & Thibaut Is Here to Help
Haselkorn & Thibaut (investmentfraudlawyers.com) is a nationwide securities fraud law firm with over 50 years of combined experience, a 98% success rate, and millions of dollars recovered for investors. If you or a loved one have questions about your investment losses with Fabio de Andrade or Merrill Lynch in Kansas City, Missouri, our attorneys are available to review your potential case at no cost – no recovery, no fee.
Take action for your financial future. Call Haselkorn & Thibaut at 1 888-885-7162 today or complete our quick confidential form for a free consultation. Let our experience work for you and give you the answers and advocacy you deserve.
