Were you a victim of investment losses due to recommendations by D.A. Davidson & Co. broker Andrew Schell (CRD# 6536347)?. He was registered with D.A. Davidson & Co. in Colorado Springs, Colorado, from 2020 to 2022, when he was terminated regarding, “Prior to the RR’s termination, clients alleged poor performance, a failure to follow instructions and made claims for damages. Upon review of the allegations, the Firm identified that the RR failed to timely report customer complaints, communicated with customers through prohibited methods, and it was alleged that he exercised discretion in some non-discretionary advisory accounts without customers’ written authorization.” He was previously registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Colorado Springs, Colorado, from 2015 to 2020.
Andrew Schell Customer Complaints
He has been the subject of 19 customer complaints between 2022 and 2023, according to his CRD report:
July 2023. “Client alleged Registered Representative’s trading strategy in non-discretionary advisory accounts was unsuitable, that he exercised discretion without proper authorization, and that he violated the Care Obligation. 2/4/2020- 2/15/2023.” The customer sought $270,052.09 in damages, and the case was settled for $129,750. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
November 2022. “Client alleged Registered Representative’s trading strategy in non-discretionary advisory accounts was unsuitable, that he exercised discretion without authorization, and did not act in the client’s best interest. 6/25/2020 – 02/28/2022.” The customer sought $265,000 in damages, and the case was settled for $175,000. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
June 2022. “Clients alleged Registered Representative exercised discretion in non-discretionary advisory accounts without their written authorization. 12/31/2020- 2/28/2022.” The case was settled for $36,801. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
May 2022. “Clients alleged Registered Representative exercised discretion in non-discretionary advisory account without their written authorization. 2/6/2020 – 2/28/2022.” The case was settled for $32,614. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
April 2022. “Client allleged RR exercised discretion in non-discretionary advisory account without their written authorization. 12/31/2020 – 02/28/2022.” The case was settled for $23,998. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
April 2022. “Client alleged RR exercised discretion in non-discretionary advisory accounts without their written authorization. 02/13/2020 – 02/28/2022.” The case was settled for $21,867. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
March 2022. “Client alleged RR exercised discretion in non-discretionary accounts without their written authorization. 08/24/2020 – 02/18/2022.” The case was settled for $25,104. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
March 2022. “Client alleged Registered Representative exercised discretion in non-discretionary advisory account without their written authorization. 2/11/2020 – 2/28/2022.” The case was settled for $40,566. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
March 2022. “Client alleged Registered Representative exercised discretion in non-discretionary advisory accounts without their written authorization. 1/8/2021 – 2/28/2022.” The case was settled for $18,910. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
March 2022. “Client alleged Registered Representative exercised discretion in non-discretionary advisory accounts without their written authorization. 1/7/2021 – 2/28/2022.” The case was settled for $29,036. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
March 2022. “Client alleged Registered Representative exercised discretion in non-discretionary advisory account without their written authorization. 10/21/2020 – 2/28/2022.” The case was settled for $58,722. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
March 2022. “Client alleged Registered Representative exercised discretion in non-discretionary advisory account without their written authorization. 2/4/2020 – 2/28/2022.” The case was settled for $19,829. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
March 2022. “Client alleged Registered Representative exercised discretion in non-discretionary advisory accounts without their written authorization. 2/5/2020 – 2/28/2022.” The case was settled for $50,737. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
March 2022. “Client alleged Registered Representative exercised discretion in non-discretionary advisory accounts without their written authorization. 4/22/2020 – 2/28/2022.” The case was settled for $40,287. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
February 2022. “Client expressed disappointment in losses and account performance and made a claim for damages. 1/13/2021 – 02/07/2022.” The case was settled for $18,330.86. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
February 2022. “Third Party expressed disappointment in losses and account performance and made a claim for damages. It was later determined that the client was aware of and authorized the complaint. 1/22/2021 – 2/7/2022.” The case was settled for $12,141.29. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
January 2022. “Client expressed frustration that his request to liquidate his account was not followed and caused additional losses. It was later determined that the RR took discretion in a non-discrectionary advisory account with certain activity. 12/272021 – 01/27/2022.” The case was settled for $18,088. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
January 2022. “Client expressed disappointment in losses and account performance. 2/10/2021 – 1/19/2022.” The case was settled for $43,818.07. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
January 2022. “Third Party expressed disappointment in losses and account performance. It was later determined that the client was aware of and authorized the complaint. 1/15/2001 – 1/19/2022.” The case was settled for $25,842.34. The complaint took place while he was registered with D.A. Davidson & Co., and it was regarding common and preferred stocks and options losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, D.A. Davidson & Co. may be liable for investment or other losses suffered by Andrew Schell’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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