Our firm is investigating Edward Jones financial advisor Andrew J. Minehart (CRD# 3174525) of Elgin, Illinois for potential investment-related misconduct.
Financial Advisor’s Career History
Based on his FINRA BrokerCheck report, Andrew J. Minehart has been registered in the securities industry since 1999 and has been associated with Edward D. Jones & Co., L.P. (Edward Jones) since December 1998 (employment history). He is reported as working from an Edward Jones branch office located at 2445 Westfield Dr., Suite 101, Elgin, IL 60124, and his registrations reflect Edward Jones as his sole reported firm in the BrokerCheck report.
Andrew J. Minehart Fraud Allegations and Investor Complaints Explained
Pending FINRA arbitration alleging unsuitable pension recommendation (Docket/Case No. 25-00669)
FINRA BrokerCheck reflects one pending customer dispute reported as a FINRA arbitration. The dispute was filed on March 31, 2025, and the complaint was received on April 1, 2025. The claimant alleges that, in 2022, he decided to retire and take a lump sum from his pension based on the registered representative’s recommendation. The claimant further alleges the recommendation was unsuitable and not in his best interest because it relied on an erroneous assumption that the claimant could receive both (i) a lump sum distribution and (ii) annuitized monthly payments. The claimant asserts the representative later realized the claimant was not receiving annuitized monthly payments.
BrokerCheck lists the product type as “No Product.” Alleged damages are shown as $0.00, but the report also states the damages were not specified and are believed to be in excess of $5,000.00. The matter is pending.
Disclosure summary (as reflected on BrokerCheck)
- Customer Dispute (Pending) — FINRA arbitration (Case No. 25-00669); Filed: 03/31/2025; Complaint received: 04/01/2025; allegation of unsuitable pension distribution guidance with asserted damages believed > $5,000; Status: Pending.
To obtain a copy of Andrew J. Minehart’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) generally requires a broker to have a reasonable basis to believe a recommendation is suitable for the customer based on the customer’s investment profile (including objectives, risk tolerance, time horizon, and other relevant factors). In a dispute alleging unsuitable retirement/pension guidance, suitability is often evaluated by whether the advisor reasonably understood the investor’s retirement income needs and the pension plan’s distribution options before recommending a lump-sum election.
FINRA Rule 2090 (Know Your Customer) focuses on a member’s obligation to use reasonable diligence to know the essential facts concerning each customer and the authority of each person acting on behalf of the customer. Where a claim alleges an advisor made an assumption about a client receiving both lump-sum and annuitized payments, Rule 2090 can be implicated if the advisor failed to verify essential facts about the customer’s pension options and constraints before making a recommendation.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) broadly requires brokers to observe high standards of commercial honor and just and equitable principles of trade. In practice, Rule 2010 is often cited alongside more specific rules when an investor alleges conduct such as careless or misleading guidance that results in a harmful financial decision—especially when the investor claims the recommendation was not in the customer’s best interest or was based on a material misunderstanding of the transaction’s mechanics.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker misconduct and investment fraud. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.