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Former Allstate Financial Services Broker Andrew Durham Suspended by FINRA After Allegations of Forgery

Andrew Durham (CRD#: 6541868) is a previously registered Broker.

 

Broker’s Background

 

He entered the securities industry in 2017 and previously worked for Allstate Financial Services, LLC.

 

Allegations Of Conduct Leading To Investment Loss

 

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in November 2021, FINRA sanctioned Andrew Durham, levying a civil and administrative penalty/fine of $5,000, and suspending him from all capacities for a period of four months beginning November 15, 2021 and ending March 14, 2022. The FINRA sanction states, “Without admitting or denying the findings, Durham consented to the sanctions and to the entry of findings that he forged a customer’s signature on a life insurance application submitted to his member firm’s insurance affiliate. The findings stated that Durham completed and submitted an application for a life insurance policy issued by the firm’s insurance affiliate, with a face value of $50,000, for a customer. For premium payments, Durham input his personal bank account information but falsely indicated the bank account belonged to the customer. Durham created a fake email address for the customer and forged the customer’s electronic signature on the policy application, which was then approved by the insurance affiliate. Durham never possessed the customer’s permission or authority to sign the policy application on the customer’s behalf.”

 

For a copy of the FINRA sanction, click here.

 

In addition, Andrew Durham has been the subject of one previous disclosure, including the following:

 

  • July 2012–Andrew Durham’s bankruptcy was discharged.

 

For a copy of Andrew Durham’s FINRA BrokerCheck, click here.

 

We Help Investors Recover Investment Losses

 

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

 

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.

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