Last Updated: August 2025 – Colorado Springs, CO
Here’s what you need to know about Colorado Springs, CO, stockbroker Andrew David Schell:
- Name: Andrew David Schell
- CRD Number: 6536347
- Current Status: Not currently registered with FINRA
- Most Recent Employer: D.A. Davidson & Co. (Jan 2020 – Mar 2022)
- Previously Registered With: Merrill Lynch, Pierce, Fenner & Smith Inc. (Sep 2015 – Jan 2020)
- Function: Stockbroker / Financial Advisor
- Exams Passed: SIE (2018), Series 7 (2015), Series 66 (2015)
- Discharged by a Prior Employer: Yes
- Nineteen prior customer disputes settled for a total of more than: $800,000
If you’ve sustained damages from Mr. Schell, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Andrew Schell As Your Stockbroker?
Between 2020 and 2022, numerous customers of D.A. Davidson & Co. filed complaints alleging that Andrew Schell engaged in unsuitable trading strategies, unauthorized discretion in non-discretionary accounts, and failure to act in clients’ best interest.
- Number of Disputes: 19 customer complaints
- Damages Alleged: Ranged from tens of thousands to over $270,000 per case
- Settlements: Cases were resolved with payments ranging from about $12,000 to $175,000
Termination: On February 28, 2022, D.A. Davidson discharged Schell, citing failure to follow client instructions, prohibited communications, failure to timely report complaints, and unauthorized discretion
Allegations of Broker Misconduct Against Andrew David Schell
- Unsuitable Trading Strategies – Clients alleged trading strategies in advisory accounts were inconsistent with their risk tolerance and objectives. This implicates FINRA Rule 2111 (Suitability) and Reg BI’s Care Obligation.
- Unauthorized Discretion in Non-Discretionary Accounts – Multiple clients accused Schell of executing trades without proper written authorization, a direct violation of FINRA Rule 3260 (Discretionary Accounts).
- Failure to Act in Clients’ Best Interests – Complaints asserted Schell did not act with the care and diligence required, violating Regulation Best Interest (Exchange Act Rule 15l-1).
- Failure to Disclose Complaints & Prohibited Communications – D.A. Davidson reported that Schell did not timely report complaints and communicated with clients through prohibited channels, potentially violating FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) and Rule 3110 (Supervision).
Other Cases Involving Unauthorized Trading
Discretionary vs. Non-Discretionary Accounts
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Andrew David Schell, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.