- November 9, 2021
- Cetera Advisors LLC
Sarah Komischke (CRD#: 5076489), also known as Xiao Qin Komischke is a dually registered Broker and Investment Advisor at Cetera Investment Services, LLC in New York, NY.
She entered the securities industry in 2006 and previously worked for CommunityAmerica Financial Solutions, LLC; Raymond James Financial Services Advisors, Inc.; Raymond James Financial Services, Inc.; Chase Investment Services Corp.; UBS Financial Services, Inc.; UBS International, Inc.; Merrill Lynch, Pierce, Fenner & Smith, Inc.; and AXA Advisors, LLC..
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2021, a customer dispute was filed against Sarah Komischke. The allegation states, “Claimant alleges FA recommended unsuitable investment in an offshore product whose issuer is no longer solvent and is under liquidation order. Allegation Activity Dates: 2/17/2015 – 12/31/2018.” Damages of $500,000 are requested, and the customer dispute remains pending.
In addition, Sarah Komischke has been the subject of one customer complaints, including one that remain pending, including the following:
- September 2021–”CLAIMANT ALLEGES THAT FA RECOMMENDED AN UNSUITABLE INVESTMENT IN AN OFFSHORE FIXED ANNUITY WHOSE ISSUER IS NO LONGER SOLVENT AND IS UNDER LIQUIDATION ORDER AND THAT THE FA MISREPRESENTED THAT THE INVESTMENT WAS A CD.” Damages of $60,000 are requested, and the customer dispute remains pending.
For a copy of Sarah Komischke’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the financial advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The investment products developed by Northstar Financial Solutions (Bermuda) Ltd. may have carried a greater risk than the prospectus suggested, making them inappropriate for broker-dealer firms to offer to some investors; in fact, it’s alleged that the company website included a disclaimer that some investments may not meet U.S. securities regulations. In addition, it could be argued that Northstar Financial Solutions (Bermuda) Ltd.’s relationship with Greg Lindberg’s Global Growth, Northstar’s parent company, should have raised red flags through broker-dealers’ due diligence practices, as Lindberg was convicted of public corruption and bribery. This could leave broker-dealers open to potential liability when it comes to covering investors’ losses with Northstar Financial Solutions (Bermuda) Ltd. investment products via class action through FINRA arbitration.
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