Andrew Jay Lowe Suspended By FINRA For Alleged Unsuitable Mutual Fund Recommendations

The law firm of Oakes & Fosher is presently investigating the possible misconduct of former securities broker Andrew Jay Lowe. According to his publicly available FINRA BrokerCheck report, Andrew Jay Lowe has been the subject of a recent FINRA sanction.

Andrew Jay Lowe was an Alabama based securities broker. He worked in the securities industry for fifteen years. During that time, he was registered with five different securities firms. He is not currently working as a registered securities broker in any fashion.

His Registrations

• A.G. Edwards & Sons (2003-2008)


• Wachovia Securities (2008-2009)


• Sterne Agee Financial Services (2009-2014)


• Berthel, Fisher & Company Financial Services (2014-2017)


• Dempsey Lord Smith (2017-2018)

The Allegations

Andrew Jay Lowe was officially sanctioned by FINRA in June 2018. The findings in this matter state that Lowe engaged in the unsuitable trading of Class A mutual fund shares. The customers in this case incurred unnecessary sales charges due to their need for constant liquidation of the product. Andrew Jay Lowe was allegedly well aware that the customers in this case had short-term investment goals and had plans to liquidate most or all of the investment within a year in order to meet their financial needs. Due to the allegations against him, Andrew Jay Lowe was fined $20,000 in fees and forced to repay $36,180 in disgorgement. He was also suspended by FINRA from acting as a securities broker in any fashion for a period of nine months.

What Does This Mean?

These sales charges were not appropriate for investors seeking short-term investments. The customers should have been invested in what are known as Class C mutual fund shares. If these customers had invested these customers in Class C shares as opposed to Class A, it would have been far more financially beneficial to them. This is just by the nature of Class C mutual fund shares being more suited to short-term investment goals.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker misconduct. The truth is that investors who have lost money in this fashion could actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Andrew Jay Lowe, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.