SagePoint Financial

Broker Troy Baily in Sagepoint Financial, INC. Firm Has Customer Complaint

November 21, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Troy Baily (Baily), previously associated with Sagepoint Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Baily recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on September 18, 2025.

Applicant is alleged to have concentrated the complainant’s account in illiquid alternative investments.

There are Recent Customer Complaints with Broker Grant Birkley in Firm Sagepoint Financial, INC.

August 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Grant Birkley (Birkley), previously associated with Sagepoint Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Birkley recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,600,000.00 on June 23, 2023.

Rep is alleged to have aided and participated in client purchase of unapproved investment

Broker Cynthia Komarek in Sagepoint Financial, INC. Firm Has Customer Complaint

August 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Cynthia Komarek (Komarek), previously associated with Sagepoint Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Komarek recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,600,000.00 on June 23, 2023.

FP is alleged to have aided and participated in claimant purchase of unapproved investment

Broker James Mackellar in Sagepoint Financial, INC. Firm Has Customer Complaint

August 9, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Mackellar (Mackellar), previously associated with Sagepoint Financial, INC., has at least one disclosable event. These events include one regulatory event, alleging that Mackellar recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 01, 2024.

Without admitting or denying the findings, Mackellar consented to the sanction and to the entry of findings that he refused to provide information or documents requested by FINRA in connection with its investigation into a complaint. The findings stated that the complaint was submitted to FINRA concerning Mackellar’s alleged OBAs involving a customer’s estate and his indirect beneficial interest in that customer’s accounts.

Broker Russell Jones in Sagepoint Financial, INC. Firm Has Customer Complaint

May 4, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Russell Jones (Jones), previously associated with Sagepoint Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Jones recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $25,000.00 on May 13, 2024.

It is alleged that unsuitable investments were recommended and that disclosures of risks were not adequate

Broker Frederic Ohara in Sagepoint Financial, INC. Firm Has Customer Complaint

April 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Frederic Ohara (Ohara), previously associated with Sagepoint Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Ohara recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on February 26, 2025.

Trustee alleges the client was misled when she purchased a variable universal life insurance policy in February 1999.

There are Recent Customer Complaints with Broker Kalomira Zangoulos in Firm Sagepoint Financial, Inc.

February 8, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kalomira Zangoulos (Zangoulos), previously associated with Sagepoint Financial, Inc., has at least one disclosable event. These events include one tax lien, alleging that Zangoulos recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on June 28, 2024.

Without admitting or denying the findings, Zangoulos consented to the sanctions and to the entry of findings that she falsified a personal bank account statement she submitted to her member firm pursuant to a heightened supervision plan (HSP). The findings stated that when Zangoulos associated with the firm, it conditioned her continued association on compliance with an HSP requiring her to, among other things, periodically submit copies of her personal bank account statements to the firm. Pursuant to the HSP, Zangoulos provided the firm an account statement for her personal bank account that she had altered to remove certain transactions, including charges for insufficient funds and a cash withdrawal at a casino. Zangoulos never informed the firm that she had altered the statement.

Timothy Vanlohuizen Has Complaints Over Alternative Investments

April 13, 2020 | by Staff Attorney

Advisor Timothy Vanlohuizen (Vanlohuizen), currently employed by SagePoint Financial, Inc. (SagePoint Financial) has been subject to at least seven customer complaints during the course of his career. According to a BrokerCheck report the customer complaints concern alternative investments such as direct participation products (DPPs) like non-traded real estate investment trusts (REITs), oil & gas programs, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

In February 2020 a customer complained that Vanlohuizen violated the securities laws by alleging that Vanlohuizen engaged in sales practice violations related to recommending unsuitable investments. The claim seeks $100,000 and is currently pending.

In May 2019 a customer complained that Vanlohuizen violated the securities laws by alleging that Vanlohuizen engaged in sales practice violations related to recommending negligence, unsuitable investments, misrepresentations, and breach of fiduciary duty related to oil and gas investments and precious metals. The claim seeks $350,000 and is currently pending.

DDPs include products such as non-traded REITs, oil and gas offerings, equipment leasing products, and other alternative investments. These alternative investments virtually never profit investors and are almost always unsuitable for investors because of their high fee and cost structure. Brokers selling these products are paid additional commission in order to hype these inferior quality investments providing a perverse incentives to create an artificial market for the investments. Continue Reading

SagePoint Advisor Paul Mauro Subject to Multiple Investment Complaints

September 18, 2019 | by Staff Attorney

The law offices of Gana Weinstein LLP are investigating broker Paul Mauro (Mauro), currently associated with SagePoint Financial, Inc. (SagePoint Financial) out of Westborough, Massachusetts. According to a BrokerCheck report, Mauro has been subject to at least nine customer disputes, two regulatory actions, and one criminal matter during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), the customer complaints against Mauro concern allegations of unsuitable investment recommendations and misrepresentations.

In February 2018, as a result of Mauro’s disclosure incidents, the State of Massachusetts Securities Division placed conditions on Mauro’s registrations in Massachusetts and required him to be placed under heightened supervision by his brokerage firm.

In December 2018 a customer alleged that in 2017 Mauro unsuitably purchased variable annuity causing $6,630 in damages. The claim was denied.

In June 2017 a customer filed a complaint alleging that Mauro made unsuitable recommendations causing $86,000 in damages. The claim was denied.

Alberto Sanchez Barred From the Securities Industry Over Undisclosed Activity

July 2, 2019 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that advisor Alberto Sanchez (Sanchez) engaged in undisclosed outside business activities (OBAs) that were not approved by his brokerage firm. Sanchez, formerly registered with SagePoint Financial, Inc. (SagePoint Financial) and MML Investors Services, LLC (MML Investors) out of Fort Lauderdale, Florida was barred from the financial industry according to records kept by The Financial Industry Regulatory Authority (FINRA). In addition, Sanchez disclosed at least two customer complaints.

In June 2019 FINRA found that Sanchez consented to the sanctions and findings that he did not provide documents as requested by FINRA in connection with an investigation concerning his involvement in a potential undisclosed outside business activity. Accordingly, Sanchez was automatically barred from the securities industry.

At this time it is unclear what OBA Sanchez engaged in that FINRA was investigating and whether or not that activity also involved private securities transactions. Sanchez’s public disclosures state that he was involved in a number of OBAs including rental property business, an insurance business, Creative Financial Network, and Health Insurance. It is unclear if these OBAs were the subject of FINRA’s investigation.