Victim of Financial Fraud? Call Now

Andrew Melikidse Permitted to Resign by Osaic Wealth

Andrew Melikidse (CRD #: 2353534), a broker registered with LPL Financial, was permitted to resign by Osaic Wealth. This is according to his BrokerCheck record, accessed on January 12, 2024. Keep reading if you have questions regarding his conduct as a broker. 

On December 7, 2023, Osaic Wealth permitted Andrew Melikidse to resign. This followed allegations that he failed to comply with firm policies and procedures, including not promptly blottering transactions. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Failing to follow firm policies may violate this rule. 

Previous Investor Dispute

On April 1, 2021, an investor alleged that Andrew Melikidse recommended a REIT and a Business Development Company that were unsuitable. 


Business Development Companies (BDCs) extend loans to small and medium-sized companies that are in distress. While BDCs charge high interest rates that can translate to big returns for investors, the possibility of the company defaulting on the loan and other risks can make BDCs unsuitable for many investors.


A real estate investment trust (REIT) allows investors to pool their funds together in a portfolio of real estate and earn returns without the responsibility of managing the properties themselves. However, the lack of liquidity associated with REITs may make them unsuitable for some investors. Non-traded REITs are especially risky and come with even higher risks. 

Background Information 

Andrew Melikidse has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 
  • Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in nine states and is a registered investment adviser in California. 

During his 30 years of experience, he has registered with seven firms: 

  • LPL Financial (CRD #: 6413) 
  • Osaic Wealth (CRD #: 23131) 
  • SagePoint Financial (CRD #: 133763) 
  • SunAmerica Securities (CRD #: 20068) 
  • WM Financial Services (CRD #: 599) 
  • Great Western Financial Securities (CRD #: 14229) 
  • Pruco Securities Corporation (CRD #: 5685) 

Kurta Law Can Help 

If you have worked with Andrew Melikidse and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.