DID DANIEL LEMUEL ANDREWS CAUSE YOU INVESTMENT LOSSES?
About Daniel Andrews of Creative Planning?
Daniel Andrews (CRD #4209537) , located in Pittsburgh, Pennsylvania, has over 20 years of experience in the financial industry. He worked for four different firms, including Merrill Lynch, TD Ameritrade, and CCO Investment Services. His last registration ended in March 2015, and he is currently an Investment Adviser Representative at Creative Planning, LLC, since October 2016
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Daniel Andrews Customer Complaints and Reviews
Daniel Andrews’ record contains one customer dispute:
- Customer Complaint (TD Ameritrade, 2008):
- Allegation: The client claimed unauthorized trade and misrepresentation related to a mutual fund purchase (Reserve Fund Interstate Tax Ex FD).
- Damages Sought: $761,999.99.
- Resolution: The complaint was denied on December 10, 2008. Internal reviews determined that the transactions were authorized by the client.
- Outcome: No settlement was paid, and the case was closed without further action.
Allegations Against Daniel Andrews
- The allegation involves a customer dispute while Mr. Andrews was employed at TD Ameritrade in 2008:
- Nature of Allegation: The client alleged misrepresentation and unauthorized trading of mutual fund transactions.
- Outcome: After internal investigation, it was determined that the client authorized the trades. The dispute was denied without any financial settlement.
- Impact on Record: While the case was resolved without action, one may wish to understand Mr. Andrews’ communication process during complex transactions.
Daniel Andrews Employment History
Mr. Andrews has passed three securities exams: two general industry/product exams (Series 7 and Securities Industry Essentials) and one multi-state securities law exam (Series 66). He holds the Certified Financial Planner designation.
- Employment Highlights:
- Creative Planning, LLC (2016 – Present)
- CCO Investment Services Corp. (2014 – 2015)
- TD Ameritrade (2008 – 2013)
- Merrill Lynch (2001 – 2008)
Investment Advisors Owe Clients The Highest Level Of Care
Investment advisors are held to a fiduciary standard, requiring them to act in their clients’ best interests. This includes providing full disclosure about nature, mechanics, and risks of any investment product or strategy to ensure clients make informed decisions. Advisors must avoid conflicts of interest and disclose them if they arise.
The duty of care obligates advisors to thoroughly understand their clients’ financial situations, investment goals, and risk tolerance, ensuring that all recommendations are suitable. Failure to uphold these duties can lead to financial harm for clients and significant repercussions for the advisor. Transparency and prioritization of client interests are essential pillars of fiduciary responsibility.
Option Trading Can Be Extremely Risky
Option trading can be highly risky, particularly when it involves complex strategies or high leverage. Options give investors the right, but not the obligation, to buy or sell an underlying asset at a predetermined price within a set period. While options can be used to hedge risks, they can also amplify losses, especially for inexperienced investors. Investment advisors who engage in options trading on behalf of clients must carefully consider the client’s risk tolerance and ensure they fully understand the potential outcomes.
speculative strategies. Certain approaches, such as selling uncovered options, can result in unlimited losses if the market moves against the position. Similarly, strategies like straddles and strangles depend on high market volatility; a lack of movement can lead to substantial losses.
For instance, a short straddle strategy involves selling both a call and a put option at the same strike price, betting on low volatility. If the stock price moves significantly in either direction, losses can be catastrophic. Clients should carefully evaluate their risk tolerance and ensure they fully understand the strategies employed in their accounts. Transparency from advisors about risks is critical for protecting client interests.
Daniel Andrews Red Flags & Your Rights As An Investor
Of course, Daniel Andrews did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Creative Planning on alert to review carefully the activity and performance of their accounts and question whether Daniel Andrews has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Creative Planning also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Creative Planning Due To Daniel Andrews
If you have questions about Creative Planning and/or Daniel Andrews and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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