Sandro Olivos: Wells Fargo Advisor Faces NorthStar Complaint

A recent investor complaint against Key Biscayne, Florida financial advisor Sandro Olivos (CRD# 3228574) alleges that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Wells Fargo Clearing Services.

Mr. Olivos’ BrokerCheck report discloses one investor complaint. Filed in March 2024, it alleges that as a representative of Ocean Financial Services, he misrepresented the risks associated with an unsuitable investment in NorthStar Financial Services. The pending complaint alleges damages of $100,000.

In a statement included with the complaint’s disclosure, Ocean Financial Services defended itself and Mr. Olivos against the allegations. “The firm believes the claim is without merit,” it wrote, “that Mr. Olivos acted appropriately and will defend the claim in the appropriate arbitration forum.”

Investors should be aware that the “misrepresentation” of material facts concerning investments is prohibited by FINRA rules. The most relevant rule may be FINRA Rule 2020, which stipulates that no broker shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Brokers who provide investors with inaccurate or otherwise misleading information may be held liable for damages in the event of losses.

According to the Financial Industry Regulatory Authority, Sandro Olivos holds 17 years of securities industry experience. Based in Key Biscayne, Florida, he has been registered as a broker with Wells Fargo Clearing Services since February 2024. His registration history includes JP Morgan Securities (Pinecrest, Florida; 2019-2023), Ocean Financial Services (Miami, Florida; 2013-2019), Activa Capital Markets (Miami, Florida; 2009-2012), and HSBC Securities (2005-2008). His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Florida and Georgia. (Information current as of February 19, 2025.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.