Andrew Egber (CRD #1894585) – Former Maryland Financial Advisor Investigation and Complaints Overview
Haselkorn & Thibaut, a national investor rights law firm, has formally opened an independent investigation into the actions and regulatory history of financial advisor Andrew Egber of Maryland, with a focus on his disclosed conduct at Wells Fargo Clearing Services, LLC, as well as his time at Steward Partners Investment Solutions, LLC and Raymond James Financial Services, Inc. If you or someone you know invested with Andrew Egber or have concerns about your accounts, speaking to an experienced attorney is highly recommended. Call Haselkorn & Thibaut at 1-888-885-7162 for your free, confidential consultation today. There is no recovery, no fee.
Who is Andrew Egber?
Andrew Joseph Egber (CRD #1894585) is a former financial advisor whose career includes registrations with:
- Steward Partners Investment Solutions, LLC (2022–2024)
- Raymond James Financial Services, Inc. (2018–2022)
- Wells Fargo Clearing Services, LLC (2009–2018)
The majority of reported misconduct, including regulatory actions and criminal charges, stems from Egber’s tenure in Maryland, principally while he was affiliated with Wells Fargo Clearing Services, LLC.
What Were the Allegations Against Andrew Egber?
Authorities allege that between 2015 and 2018, Andrew Egber orchestrated a real estate investment scheme targeting elderly clients. He reportedly convinced clients to liquidate their long-term retirement assets and invest in opportunities that were, in reality, not as presented. According to prosecutors, investors were instructed to write personal checks directly to Egber, who then misappropriated those funds for his own use.
Egber pled guilty to the following in February 2024:
- Two counts of felony theft over $100,000
- One count of exploitation of a vulnerable adult
- One count of securities fraud
As a result, Egber was sentenced to 18 months in jail, followed by five years of probation, and ordered to pay $545,831 in restitution to victims. FINRA (the Financial Industry Regulatory Authority) also permanently barred Egber from the securities industry after he refused to cooperate with its investigation.
Summary Table: Key Facts – Andrew Egber (Maryland)
| Name | Andrew Joseph Egber |
| CRD | 1894585 |
| Relevant Broker-Dealers |
Steward Partners Investment Solutions, LLC Raymond James Financial Services, Inc. Wells Fargo Clearing Services, LLC |
| Alleged Misconduct | Theft, securities fraud, exploitation of vulnerable adult – primarily during employment at Wells Fargo Clearing Services, LLC in Maryland |
| Criminal Disposition | Pled guilty; serving 18 months jail, 5-year probation, $545,831 restitution ordered |
| FINRA Action | Permanently barred from industry |
What Complaints or Cases Are Publicly Disclosed for Andrew Egber?
Investors understandably want to know: Has Egber faced civil lawsuits, regulatory discipline, or formal complaints in connection with these issues? As of April 2024, public sources (including FINRA BrokerCheck) and statewide regulator databases show the following:
- Customer Complaints / Civil Litigation: No reported customer arbitration cases, lawsuits, or civil-court disputes directly involving Egber.
- Regulatory Actions: No formal disciplinary actions, suspensions, fines, or state securities orders outside the FINRA industry bar for failure to cooperate in the investigation.
- Criminal Charge and Guilty Plea: The most significant action remains the 2024 criminal proceedings, guilty plea, and sentencing in Maryland (plus a pending federal case in Minnesota regarding aggravated identity theft – Egber has pled not guilty in the latter).
- SEC/State Filings: No SEC actions, cease-and-desist, or public state enforcement matters apart from the criminal proceedings.
- Bankruptcy/Financial Issues: No bankruptcy disclosures.
Potential Red Flags for Investors
While customer arbitrations or regulatory censures have not yet been reported in the public domain, several key red flags have emerged, of which investors should be mindful:
- Criminal Conviction: Guilty plea to theft, securities fraud, and exploitation of vulnerable clients.
- FINRA Bar: Permanent industry ban for failing to provide documents and information demanded by FINRA.
- Outside Investment Solicitation: Prosecutors allege misconduct involving solicitation of investments not approved by Wells Fargo (“selling away”).
- Misappropriation of Client Funds: Alleged unauthorized use of elderly clients’ funds for personal purposes.
Important Note for Impacted Investors: Even if you do not see a formal complaint on Egber’s BrokerCheck profile, this does not mean you have no claim. In cases involving criminal activity or regulatory bars, a broker’s former firms may still retain liability if they failed to reasonably supervise or prevent unauthorized sales or transfers.
Can Investors Seek Recovery?
Absolutely. If you suffered losses with Andrew Egber—whether at Wells Fargo Clearing Services, LLC, Raymond James Financial Services, Inc., or Steward Partners Investment Solutions, LLC—you may be eligible to pursue compensation through FINRA arbitration, especially if there was a lack of supervision or unauthorized transactions. Some potential bases for recovery include:
- Fraud and misrepresentation
- Unsuitable or high-risk investment recommendations
- Selling away/private securities transactions
- Failure to supervise by the firm
What Makes Haselkorn & Thibaut Different?
Haselkorn & Thibaut (investmentfraudlawyers.com) is a national law firm focused solely on representing investors in claims against broker-dealers and investment advisors, with over 50 years of combined experience, a 98% success rate, and millions recovered for clients. There are zero out-of-pocket legal fees unless you recover compensation. Every consultation is free and confidential.
What Should I Do Next?
Not sure if you have a case? You may be entitled to recover your losses even if you never filed a formal complaint. The process is discreet and there is no charge unless recovery is achieved. Contact Haselkorn & Thibaut at 1-888-885-7162 for your free, no-obligation case evaluation today.
Prompt action preserves your rights. If you are concerned about investments with Andrew Egber or any of his associated broker-dealers—including Wells Fargo Clearing Services, LLC, Raymond James Financial Services, Inc., or Steward Partners Investment Solutions, LLC—take proactive steps to understand your options. Let experienced counsel guide you every step of the way.
