Securities Arbitration Lawyers BlogUtah Broker Thomas E. Andrews Permanently Barred by FINRA
Misappropriation of funds, breach of fiduciary duty, and mismanagement are just a few of the allegations cited
Silver Law Group is investigating Thomas Edward Andrews, a broker who was employed by LPL Financial in Salt Lake City, Utah. Andrews began his career in the financial services industry in October 2002. In 2015, he was terminated after the firm received allegations from clients that he was misappropriating funds, engaging in unauthorized borrowing, mismanaging investments and that he committed breach of fiduciary duty from 2011 through 2015, among others.
He was subsequently suspended and permanently barred by the FINRA after he failed to respond to requests for information regarding his termination and the allegations. According to his BrokerCheck Report, in November 2015, clients of Andrews filed a complaint claiming that he had formed fictitious trusts, provided forged application materials for annuity products and accepted funds from them payable to these trusts.