Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Andrew Melikidse [CRD: 2353534, Studio City, California]. Melikidse worked for Osaic Wealth Inc. from September 1, 2023, to December 12, 2023, before his resignation. Prior to this, he worked for WM Financial Services Inc. and SagePoint Financial Inc. Below, investors can learn more about the client disputes and allegations involving Melikidse.
On December 7, 2023, Osaic Wealth Inc. permitted Andrew Melikidse to resign, citing allegations that he failed to timely blotter transactions, a violation of the firm's procedures and policies.
On June 22, 2022, a client initiated FINRA Arbitration No. 21-00868, accusing Andrew Melikidse of recommending unsuitable investments in business development companies (BDCs) and real estate investment trusts (REITs). This case settled, with the client receiving $75,000 in compensation.
On May 4, 2005, a client of WM Financial Services Inc. made a complaint about Andrew Melikidse, accusing him of unsuitable recommendations related to variable annuities. The case was settled with the client receiving $9,271.99 in damages.
If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney. Melikidse and the brokerage firms he worked for deny accusations of sales practice violations. Soreide Law Group has experience representing investors throughout the country and handles cases on a contingency basis.
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