The Certified Financial Planner Board of Standards has imposed an interim suspension on a former Charles Schwab advisor after learning that he had been barred by the Financial Industry Regulatory Authority (Finra).
Andrew D. Slocum of Snowmass, Colo., worked for Schwab from October 2016 to October 2019, according to his BrokerCheck profile. He was permanently barred by Finra from associating with any Finra member in any capacities on August 24, 2020.
According to BrokerCheck, Slocum was fired in September 2019 by Schwab for sending a blank form to a client for signature and then completing and submitting the form for processing. It was further alleged that he had discussed a private security transaction with clients and prospective clients without first obtaining Schwab compliance approval.
Slocum failed to respond to Finra's requests “for the production of information and documents” on May 21, 2020, and June 15, 2020, according to Finra.
Due to his failure to request termination of his suspension within three months of the date of the notice of suspension, Slocum was automatically barred from association with any Finra member in all capacities, Finra said.
Slocum also worked for Merrill Lynch, Pierce, Fenner & Smith Inc. from August 1999 to October 2016.
The CFP Board’s automatic interim suspension order stipulates that Slocum’s right to use the CFP certification marks is suspended pending the CFP Board’s completed investigation and possible further disciplinary proceedings.