Last Updated: March 9, 2025
If you’ve suffered investment losses while working with Sandro Mariano Olivos, call 800-950-6553 or complete our online form to schedule your no-obligation case evaluation.
Investors who worked with Sandro Mariano Olivos (CRD# 3228574) and experienced losses in offshore investments may have recovery options through FINRA arbitration. Recently registered with Wells Fargo Clearing Services in Key Biscayne, Florida, Olivos’s FINRA BrokerCheck report reveals a pending customer dispute that investors should be aware of.
Current Status and Pending Customer Dispute
Sandro Mariano Olivos is currently employed with Wells Fargo Clearing Services, LLC (CRD# 19616) since February 21, 2024, where he works as both a registered representative and banker at their Key Biscayne, Florida branch. His sudden move to Wells Fargo follows a brief stint at PNC Private Bank from March to December 2023.
Of significant concern is the pending FINRA arbitration case (Case #24-00540) filed on March 11, 2024, alleging:
- Misrepresentation of risks associated with NorthStar Financial Services investments
- Unsuitable investment recommendations in offshore investment trusts
- Claimed damages of $100,000
This arbitration focuses on Olivos’s activities during his time at Ocean Financial Services, LLC, where he worked from June 2013 to July 2019. While Ocean Financial Services maintains the claim is without merit, the allegations raise serious questions about Olivos’s investment recommendations and risk disclosures to clients.
Understanding Offshore Investment Trust Misconduct
The pending arbitration against Olivos involves offshore investment trusts, which carry unique and often elevated risks compared to domestic investments. These specialized vehicles can present several compliance and suitability issues:
1. Heightened Risk Factors
Offshore investment trusts typically involve:
- Limited regulatory oversight compared to domestic investments
- Reduced transparency in operations and financial reporting
- Potential exposure to foreign political, economic, and currency risks
- Complex tax implications that may not be fully disclosed to investors
- Higher fees and expenses that can erode returns
2. Suitability Concerns
FINRA Rule 2111 requires that financial advisors have reasonable grounds for believing their recommendations are suitable based on a client’s:
- Investment objectives and time horizon
- Risk tolerance and financial situation
- Investment experience and knowledge
- Tax status and needs
Offshore investments are typically only suitable for sophisticated investors with substantial assets, high risk tolerance, and specific diversification or tax planning needs. Recommending such investments to average retail investors may constitute a violation of suitability obligations.
3. Required Risk Disclosures
Financial advisors recommending offshore investments must fully and accurately disclose all material risks, including:
- The speculative nature of the investment
- Potential for significant or complete loss of principal
- Liquidity restrictions and limitations on redemptions
- Complex fee structures that may not be immediately apparent
- Regulatory and tax compliance requirements
- Potential conflicts of interest
The allegation that Olivos misrepresented risks associated with NorthStar Financial Services investments suggests potential failures in these critical disclosure obligations.
Professional Background and Employment History
Sandro Olivos has worked at multiple financial institutions throughout his career:
- Wells Fargo Clearing Services, LLC (February 2024 – Present)
- PNC Private Bank (March 2023 – December 2023)
- P. Morgan Securities LLC (November 2019 – March 2023)
- Ocean Financial Services, LLC (June 2013 – July 2019)
- Activa Capital Markets, Inc. (December 2009 – April 2012)
- HSBC Securities (USA) Inc. (January 2005 – May 2008)
- HSBC Brokerage (USA) Inc. (March 2003 – January 2005)
His frequent moves between firms, including three different employers in just the past 15 months, raise questions about stability and potential issues at previous employers. This pattern of movement, sometimes called “broker migration,” can be a red flag for investors.
Licensing and Professional Qualifications
Olivos currently holds licenses in Florida and Georgia and is registered with 11 Self-Regulatory Organizations. His examination history shows:
- Securities Industry Essentials Examination (SIE) – October 1, 2018
- General Securities Representative Examination (Series 7) – August 15, 2004
- Investment Company Products/Variable Contracts Representative Examination (Series 6) – March 25, 2003
- Uniform Securities Agent State Law Examination (Series 63) – July 18, 2003
Notably, Olivos has not passed any principal/supervisory exams, which would be required for supervising other financial advisors or managing a branch office.
NorthStar Financial Services: Background on the Investment
The pending arbitration focuses specifically on investments in NorthStar Financial Services, a company that has faced significant regulatory scrutiny. NorthStar Financial Services Group and its affiliates, including Bermuda-based entities, have been the subject of multiple investor complaints and regulatory actions.
In 2021, NorthStar’s Bermuda affiliate faced liquidity issues that prevented investors from accessing their funds. The Securities and Exchange Commission (SEC) and state regulators have investigated sales practices related to NorthStar products, particularly focusing on:
- Misrepresentations of safety and liquidity
- Inadequate disclosure of offshore risks
- Unsuitable recommendations to retail investors
- Failure to conduct proper due diligence by the recommending advisors
These offshore products were often marketed to investors seeking higher returns in a low-interest environment, but many advisors allegedly failed to adequately explain the elevated risks compared to domestic fixed-income investments.
Warning Signs for Investors
If you invested with Sandro Olivos, particularly in offshore investment trusts or NorthStar Financial Services products, watch for these potential warning signs of misconduct:
- Promised returns that seemed significantly higher than comparable investments
- Minimal discussion of risks during the sales process
- Limited documentation regarding the specific features and risks of the investment
- Difficulty accessing your investment funds or receiving complete information
- Investment performance substantially different from what was initially described
- Unexpected fees or expenses appearing in statements
- Pressure to invest quickly without adequate time for due diligence
Recovery Options for Investors
If you believe you were misled about the risks of investments recommended by Sandro Olivos, several potential recovery paths exist:
1. FINRA Arbitration
The most common method for recovering investment losses is through FINRA arbitration. This process offers several advantages:
- Typically faster than court litigation, often concluding within 12-18 months
- Lower costs than traditional litigation
- Industry expertise among arbitrators
- Binding decisions that are difficult to appeal
FINRA arbitration is particularly appropriate for claims involving:
- Unsuitable investment recommendations
- Misrepresentation or omission of material facts
- Failure to perform adequate due diligence on recommended investments
- Breach of fiduciary duty
2. Regulatory Complaints
Filing complaints with regulatory authorities can support your arbitration case and help protect other investors:
- FINRA – The Financial Industry Regulatory Authority oversees brokers and brokerage firms
- SEC – The Securities and Exchange Commission regulates securities markets
- State Regulators – Florida Office of Financial Regulation (where Olivos is currently registered)
While regulatory complaints typically don’t result in direct monetary recovery, they create an official record of your allegations and may lead to investigations that support your arbitration claim.
3. Claims Against Multiple Parties
In many investment fraud cases, multiple parties may share responsibility:
- The Individual Broker (Sandro Olivos)
- Current Firm (Wells Fargo Clearing Services)
- Former Firms (Ocean Financial Services, where the alleged misconduct occurred)
- Product Issuers (NorthStar Financial Services)
An experienced securities attorney can help determine which parties may be liable for your losses.
Time Limitations for Filing Claims
Investors should be aware of important time limitations for investment fraud claims:
- FINRA arbitration claims typically must be filed within six years of the events giving rise to the dispute
- State securities law claims often have shorter statutes of limitations, typically 2-3 years
- The discovery of the fraud or misconduct may extend some deadlines under certain circumstances
Given that Olivos worked at Ocean Financial Services from 2013 to 2019, the window for filing claims based on investments made during that period may be closing. Affected investors should consult with a securities attorney promptly to determine if their claims remain viable.
Steps to Take If You Invested with Sandro Olivos
If you invested with Sandro Olivos, particularly in offshore investments or NorthStar Financial Services products, consider these important steps:
- Gather Documentation – Collect all account statements, communications, marketing materials, and notes from meetings
- Review Investment Performance – Compare actual returns and access to funds against what was promised
- Request Your Complete Client File from his current and former firms
- Consult a Securities Attorney experienced in FINRA arbitration and offshore investment cases
- Act Promptly before applicable statutes of limitations expire
Why Experience Matters in Offshore Investment Cases
Recovering losses from offshore investment misconduct requires specialized experience. These cases involve:
- Complex international regulatory frameworks
- Sophisticated analysis of disclosure obligations
- Understanding of cross-border tax implications
- Knowledge of how arbitration panels view offshore products
Our attorneys have successfully represented investors in numerous cases involving offshore investment trusts and have specific experience with NorthStar Financial Services products. We understand how these investments were marketed and the specific disclosure failures that often occurred.
Free Consultation with an Investment Fraud Attorney
Our firm specializes in representing investors who have suffered losses due to broker misconduct and unsuitable investment recommendations. We understand the complex nature of offshore investment fraud and have successfully represented clients in FINRA arbitration proceedings against major financial institutions.
If you invested with Sandro Mariano Olivos at Ocean Financial Services, J.P. Morgan Securities, or now at Wells Fargo, contact us today for a free, confidential consultation. Our securities attorneys work on a contingency fee basis, meaning you pay nothing unless we recover money for you.
Don’t let the statute of limitations expire on your potential claims. Call 800-950-6553 or complete our online form to schedule your no-obligation case evaluation.
Disclaimer: The allegations referenced in this article are taken from FINRA BrokerCheck records and have not been proven in arbitration or litigation. All individuals are presumed innocent until proven otherwise. This article is for informational purposes only and does not constitute legal advice.
