Steward Partners Investment Solutions Review – Complaints, Regulatory History & Lawsuit Investigations
The White Law Group is investigating potential FINRA arbitration claims involving Steward Partners Investment Solutions, LLC (CRD#: 1254). Based in Bethesda, Maryland, the firm has faced recent regulatory sanctions related to supervisory failures. Below is an overview of the firm’s regulatory history, misconduct findings, and what this means for investors.
Steward Partners Investment Solutions Overview
Steward Partners Investment Solutions is a registered broker-dealer and investment advisory firm that offers wealth management and investment services. While the firm promotes a boutique, client-focused approach, its regulatory history reveals serious deficiencies in supervision and compliance.
According to FINRA BrokerCheck, Steward Partners has faced disciplinary actions for supervisory lapses that raised significant risks for investors.
FINRA Sanctions Against Steward Partners (2024)
FINRA Fine – June 2024
In July 2024, FINRA fined Steward Partners Investment Solutions $225,000 and issued a censure for supervisory failures tied to Automated Clearing House (ACH) transfers. According to FINRA, between December 2019 and June 2020, the firm failed to reasonably supervise nearly 300 unauthorized third-party transfers, which led to the theft of more than $300,000 from a senior customer’s account.
The perpetrators used account information linked to a checking feature to transfer funds to external banks and pay credit card bills. Although Steward Partners eventually self-reported the activity, FINRA found that its supervisory systems were inadequate to detect or prevent the fraud. The firm resolved the matter without admitting or denying the regulator’s findings.
Data breach (2024)
In September 2024, Steward Partners Management Holdings, LLC reported a data breach that exposed sensitive customer information. The company filed a notice with the Massachusetts Attorney General’s office and sent notification letters to affected individuals.
Broker Misconduct: Andrew Egber
One of Steward Partners’ former advisors, Andrew (Andy Joseph) Egber (CRD#: 1894585), was permanently barred by FINRA in 2024 after refusing to cooperate in an investigation tied to allegations of misappropriating client funds. Egber also faced a $500,000 fine and a permanent bar from the Maryland Securities Division for fraudulent investment recommendations.
Arbitrations & Lawsuits
The White Law Group is investigating potential claims against Steward Partners for failure to properly supervise its representatives. Investors who suffered losses due to unsuitable recommendations, unauthorized trading, or fraudulent outside investments may be entitled to pursue damages through FINRA arbitration.
Broker Due Diligence & Supervisory Rules
Brokerage firms are required under FINRA Rule 3110 (Supervision) and Rule 2111 (Suitability) to:
- Maintain supervisory systems that ensure compliance with securities laws.
- Conduct due diligence before recommending investments to ensure they are suitable based on the client’s financial profile and risk tolerance.
- Review and address customer complaints promptly.
Failure to meet these obligations may result in liability for negligent supervision in FINRA arbitration claims.
Class Action vs. Individual FINRA Arbitration
For investors with significant losses (often over $100,000), individual FINRA arbitration is usually more effective than joining a class action. Class actions may be appropriate for smaller claims but generally result in lower recoveries per investor.
Nationwide Securities Fraud Attorneys
The White Law Group represents investors across the country in FINRA arbitration claims against broker-dealers, including Steward Partners. Our firm has handled more than 800 FINRA cases involving securities fraud, broker negligence, and investment losses.
FAQs – Steward Partners Complaints & Lawsuits
1. What were the FINRA sanctions against Steward Partners in 2024?
FINRA sanctioned the firm for failing to supervise its average price account, for incomplete order memoranda, and for allowing unauthorized discretionary trading. The firm was censured and fined.
2. How do I check if my Steward Partners broker has complaints?
You can review your broker’s record on FINRA’s free BrokerCheck database, which lists customer complaints, regulatory actions, and employment history.
3. Can I recover losses from Steward Partners?
Yes. Investors may be able to pursue recovery through a FINRA arbitration claim if the firm failed to supervise its brokers or recommended unsuitable or fraudulent investments.
4. Is a class action or FINRA arbitration better for Steward Partners claims?
For larger losses, individual FINRA arbitration typically offers a faster and more direct path to recovery than class actions.
Free Consultation
If you have suffered investment losses with Steward Partners Investment Solutions or a former broker such as Andrew Egber, call The White Law Group at 888-637-5510 for a free consultation. You may also visit us online at whitesecuritieslaw.com for more information.
Last modified: September 23, 2025
