Andrew Galy Allegedly Recommended Unsuitable Investments and Investment Strategy

Andrew Galy (CRD #: 1915564), a broker registered with Cambridge Investment Research, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on October 1, 2022. Investors may have also engaged his services through Cambridge Investment Research Advisors. Read on if you have questions about his conduct as a broker.

Investor Dispute

On July 29, 2022, an investor alleged that Andrew Galy gave unsuitable investment recommendations that were inconsistent with the client’s overall financial profile. The client further alleges that Andrew Galey recommended an investment strategy “almost entirely” comprised of high-risk, speculative, and illiquid investments. The client seeks $75,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments or investment strategies. Brokers must consult the investor characteristics described in their profile, such as their age, risk tolerance, and overall financial situation.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Tax Lien

On September 6, 2016, Andrew Galy was subject to a $99,527 tax lien.

Background Information

Andrew Galy has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 53 – Municipal Securities Principal Examination
• Series 4 – Registered Options Principal Examination
• Series 24 – General Securities Principal Examination

Andrew Galy is a registered broker in 16 states and a registered investment adviser in Louisiana and Texas.

He has also worked for the following firms:

• AXA Advisors (CRD#:6627)
• ING Financial Partners (CRD#:2882)
• FBT Investments (CRD#:104463)
• FBT Advisors (CRD#:112690)
• Sisung Securities Corporation (CRD#:25752)
• Invest Financial Corporation (CRD#:12984)
• American Fronteer Financial Corporation (CRD#:1398)
• Dickinson & Company (CRD#:689)
• F.N. Wolf & Company (CRD#:13051)

Kurta Law Can Help

If you worked with Andrew Galy and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.