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Andrew W. Davitt

Shareholder
Chair, Securities & Investments Professional Liability Practice
2000 Market Street, Suite 2300
Philadelphia, PA 19103
(215) 575-2679
(215) 575-0856 - Fax
awdavitt@mdwcg.com

As the chair of the firm's Securities and Investment Professional Liability Practice Group, in addition to handling cases and securities clients, Andrew coordinates and oversees the activities of a dedicated group of lawyers throughout the firm's offices. Andrew has successfully represented investment firms, professionals, registered investment advisors, financial planners and insurance agents in matters involving business disputes, customer complaints, regulatory inquiries/investigations, mediations, arbitrations and litigation. He has significant experience representing clients in various forums including litigation, arbitration, mediation, internal investigations, regulatory examinations and investigations.
 
Andrew and his group members represent the interests of FINRA member broker-dealers, registered representatives, certified financial planners, RIAs, insurance agents and brokers, and other securities and insurance industry professionals throughout the United States. As well, he is called upon by investment firms to conduct investigations and conduct seminars and presentations on timely business and investment topics. This team also counsels and represents brokers and firms on employment issues and litigation.
 
Andrew's background includes licensure as an insurance agent in the states of Pennsylvania and New Jersey, licensure as a real estate agent in Pennsylvania, and licensed with various states and with FINRA as a Registered Representative. He has experience as a broker with FINRA and New York Stock Exchange member investment firms as well as an independent FINRA member broker-dealer.

In addition to his Series 63 and Series 7 licensure, he was licensed as an Associated Registered Investment Adviser. Andrew's work background also includes his position as Professional Liability Specialist with a major insurance company handling professional liability matters such as accountant malpractice, tax-shelter/limited partnership matters and miscellaneous professional liability litigation (directors and officers, legal malpractice, coverage).
 
As a lecturer and guest speaker, Andrew has made presentations for various organizations and broker-dealers in relation to securities business and practices, directors and officers, and investment related matters. He has also authored numerous articles for brokerage firms, the Delaware Valley Society of Financial Planners, Defense Digest, and other publications and organizations. He also serves as a securities arbitrator for FINRA and previously served on the Board of Directors for the Delaware Valley Society of the FPA, which services New Jersey, Delaware and Pennsylvania. He has served as outside counsel to the Delaware Valley Society of the FPA.
 
Andrew is a Certified Litigation Management Professional with the Claims and Litigation Management Alliance (CLM) and is an instructor in the CLM Claims College.  He is also a member of the Professional Liability Underwriting Society (PLUS).

Andrew graduated from Mansfield University in 1980 and completed his juris doctor in 1987 at the University of Baltimore School of Law.

Classes/Seminars Taught

  • Investment Professionals' Fiduciary and Other Duties and Obligations When Dealing With Public Investors and The Aging of America and the Impact of Investments and Financial Planning, Kalos Financial Annual National Conference, Atlanta, GA, June 7, 2018

  • Best Practices for Investment Professionals, Concorde Investment Services National Conference, Detroit, Michigan, June 5, 2018

  • Financial Industry Trends Update 2017, Chubb Insurance Financial Lines, September 2017

  • Insurance Agent / Broker E&O – Claims Prevention and Defense, Zurich Insurance, New York, NY, February 2017

  • School of Professional Lines, CLM Claims College, Baltimore, September 2016 

  • Are Stock Brokers Fiduciaries? Depends on Who You Speak With - The Department of Labor Fiduciary Rule, 10th Annual Errors & Omissions Insurance ExecuSummit, June 7, 2016

  • School of Professional Lines, CLM Annual Claims College, September 7-10, 2014

  • Brokers and Financial Advisors Transitioning, Legal Obstacles and Issues, Featured Speaker, Financial Services Institute (FSI) National Conference, 2013

  • The New FINRA Rules and the Effect on Future Claims, featured speaker, 6th Annual National E&O Insurance ExecuSummit, June 2012

  • Mile High Compliance Workshop, Speaker, Denver, Colorado

  • CE and Practice Management Conference, Featured Speaker, MML Investor Services, Inc., 2008

  • Variable Annuity Due Diligence and Sales Practices: C.Y.A. Equity Index Annuities

  • Compliance Boot Camp

  • Selling and Servicing Senior Citizens

  • Compliance Best Practices Boot Camp

  • Best Practices Boot Camp: Tales from the Trenches...The Perspective of Outside Legal Counsel

  • Investment Professionals Annual Firm Compliance Workshop

  • Practice Management & Compliance Boot Camp 101...The Perspective of In-House and Outside Counsel

  • Best Practices Boot Camp: Scared Straight! Tales from the Trenches

  • The Basics and Recent Developments in the Financial Institution Arenas

  • Mutual Fund Sales Practices

  • Regulatory Environment and Overview

  • Financial Institutions and Broker/Dealers; Claims and Underwriting in the USA

  • Arbitration, Litigation & Compliance Management in the Financial Services Industry

  • Tales From the Trenches and Perspectives of Outside Counsel: Investment Best Practices Securities 101

  • Investments Professionals Best Practices Boot Camp 101

  • Broker/Dealer Issues

  • Securities Arbitrator Training and Education

  • Handling of Securities Claims

  • Analyzing Securities Matters

  • Scared Straight

  • When Your Client Is No Longer Your Friend

  • Customer Complaints and Regulatory Inquiries

  • "CYA" Covering Your Assets, Surviving the Bear Market

  • Mediating a Securities Case

  • Business and Risk Management

  • Various speaking engagements for broker-dealers, RIAs, FPAs representatives and other organizations

Published Works

  • "Selling Investments to and Advising Senior Citizens," Co-Author with Rachael Luken, Esquire

  • "Senior Citizens: Seller Be Warned Versus Buyer Beware!"

  • "Agents Beware!"

  • "Managing Client Expectations and Customer Complaints"

  • "Investment Tidbits"

  • "Bobbing, Weaving and Keeping Your Business Alive: The Ever Changing Regulatory Environment Rules"

  • "Regulators Scrutinize Variable Annuity Sales and Switching," Co-Author with Adam Bronstein, Esq.

  • "Risk Management for the Professional Advisors: New Changes in the Tax Law"

  • "Professional Liability Errors and Omissions Insurance: The Dilemma Financial Planners Insurance and ...to 'Go Naked' or Cover Your Assets When Your Client Is No Longer Your Friend"

  • "Regulators on the Prowl"

  • "Ideas for Financial Planning, Investment and Insurance Professionals to Protect and Defend Against Customer Complaints, Regulatory Inquiries and Litigation"

  • "Twelve Simple Ways for Investment and Insurance Professionals to Protect Themselves and Defend against Customer Complaints"

  • "Securities Arbitration Program to Undergo Overhaul"

  • Various Articles, Pennsylvania Institute of CPA's Journal, Claim of the Month

Certification

  • Certified Litigation Management Professional with the Claims and Litigation Management Alliance (CLM)

Pro Bono Activities

  • Volunteer, Philabundance

  • Volunteer, Philadelphia Distance Run

  • Volunteer, Habitat for Humanity

Education

  • University of Baltimore School of Law, Baltimore, MD (J.D., 1987)

  • Mansfield State College, Mansfield, PA (B.A., 1980)

  • Drexel University, Philadelphia, PA

  • St. Joseph's University, Philadelphia, PA

    MBA Candidate Classes 

Law Alerts September 16, 2019
  Key Issues for Regulatory Examinations for State-Registered Advisers Prepared by John P. Quinn, Esq. The North American Securities Administrators Association (NASAA), the voluntary association of state securities regulators, recently..., The material in this law alert has been prepared for our readers by Marshall Dennehey Warner Coleman & Goggin. It is solely intended to provide information on recent legal developments, and is not intended to provide legal advice for a specific...
Law Alerts August 11, 2017
DOL Proposes Another Delay For Implementation of the Fiduciary Rule: What It Means to RIAs Prepared by John P. Quinn, Esq. On Wednesday, August 9, 2017, the Department of Labor (DOL) announced in a court filing that it will delay the effective...,   The material in this law alert has been prepared for our readers by Marshall Dennehey Warner Coleman & Goggin. It is solely intended to provide information on recent legal developments, and is not intended to provide legal advice for a...
Law Alerts March 20, 2015
Recent Litigation Victories In a recent FINRA arbitration, Stanley Abel v. Janney Montgomery Scott, FINRA Arbitration No. 14-00018, Sam Cohen (Philadelphia, PA) obtained a directed verdict on behalf of his clients, Janney Montgomery Scott LLC, and..., The material in this law alert has been prepared for our readers by Marshall Dennehey Warner Coleman & Goggin. It is solely intended to provide information on recent legal developments, and is not intended to provide legal advice for a specific...
Defense Digest Article December 17, 2013
By Andrew W. Davitt, Esq.* The Marshall Dennehey Securities and Investment Professional Liability Practice Group is devoted to handling virtually all litigation-related issues facing securities and investment professionals. This group services a..., Defense Digest, Vol. 19, No. 4, December 2013 Defense Digest is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent legal developments of interest to our readers. This publication is not intended to provide...
August 11, 2016
Attorneys James H. Cole, Andrew W. Davitt, Eric A. Fitzgerald, Edward J. McGinn, Jr. and Matthew S. Schorr, all shareholders at civil defense litigation firm Marshall Dennehey Warner Coleman & Goggin, will serve as faculty at the Claims and Litigation Management Alliance's (CLM) 2016 Claims...
June 16, 2016
Andrew W. Davitt, chair of the Securities and Investments Practice Group in the Philadelphia office of Marshall Dennehey Warner Coleman & Goggin, was a featured speaker at the 10th Annual Errors & Omissions Insurance ExecuSummit, held June 7 – 8 in Uncasville, CT. Mr. Davitt and fellow...
August 24, 2015
Attorneys James H. Cole, Andrew W. Davitt, Eric A. Fitzgerald, Edward J. McGinn, Jr. and Matthew S. Schorr, all shareholders at civil defense litigation firm Marshall Dennehey Warner Coleman & Goggin, will serve as faculty at the Claims and Litigation Management Alliance's (CLM) annual Claims...
September 2, 2014
Marshall Dennehey shareholders Eric A. Fitzgerald, Andrew W. Davitt and Matthew S. Schorr will serve as faculty at the CLM's annual Claims College, to be held September 7-10, 2014, at the Philadelphia Marriott Downtown, in Philadelphia, Pennsylvania. Eric A. Fitzgerald, CPCU, CLU, will address the...

Education

  • University of Baltimore School of Law (J.D., 1987)
  • Mansfield University (B.A., 1980)

Bar Admissions

  • Pennsylvania, 1988
  • New Jersey, 1990
  • District of Columbia, 1991
  • U.S. District Court Eastern District of Pennsylvania
  • U.S. District Court Middle District of Pennsylvania
  • U.S. District Court Western District of Pennsylvania

Associations & Memberships

  • Delaware Valley Society of Financial Planning Association (FPA) Counsel and Past Board of Directors, Member
  • District of Columbia Bar
  • FINRA Arbitrator
  • National Society of Compliance Professionals
  • PLUS
  • New Jersey Bar Association
  • Pennsylvania Bar Association
  • Pennsylvania Securities Commission Attorney Advisory Committee, Member
  • Philadelphia Bar Association, Securities Regulation Committee
  • Securities Industry
  • The Financial Industry Regulatory Authority (FINRA), Arbitrator

Honors & Awards

  • AV® Preeminent™ by Martindale-Hubbell®

    The 2016 Martindale Hubbell rated attorney list is issued by Internet Brands, Inc. A description of the selection methodology can be found here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.


  • Pennsylvania Super Lawyer, 2007

    The 2016 Super Lawyers list is issued by Thompson Reuters. A description of the selection methodology can be found here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.


Year Joined Organization: 1992

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