Andrew Pandis, Cetera Broker, Allegedly Concentrated Assets
Andrew Pandis (CRD# 2928410), a broker registered with Cetera, recommended an unsuitable and over-concentrated alternative investment, according to an investor dispute. MDF Law is investigating the Forest Hills, New York-based financial professional for similar conduct. If you have concerns about your portfolio, call us for a free and confidential consultation with an attorney.
More information about the allegations against Mr. Pandis follows below. The information herein is based on a January 14, 2025 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.
Pending Disputes Seek 6-Figures
Between 2023 and 2024, four parties of investors filed disputes involving Mr. Pandis. These claims include allegations that he recommended an unsuitable alternative investment, over-concentrated a customer’s assets, provided insufficient disclosures, and made inappropriate recommendations. The disputes, which are still pending, seek $795,000 in cumulative damages.
Firm Settled Past Dispute
The above-described investor disputes are not the only ones in Mr. Pandis’ record. On August 28, 2023, another investor lodged a dispute alleging that he breached contract. In this case, his firm settled the allegations for $7,281.05.
What Is Over-Concentration?
The allegations outlined in the disputes involving Mr. Pandis include a few common forms of investment fraud. An unsuitable investment, for instance, describes a product that’s inappropriate for a customer’s profile. This includes their investment experience, goals, risk tolerance, and more. Concentration, alternatively referred to as over-concentration, describes the investment of a substantial amount of the client’s assets in a single security or asset class. As FINRA has explained, concentration is akin to putting too many eggs in one basket. It exposes investors to potentially significant losses in the event of a downturn in the security or asset class.
Flushing Financial Solutions Representative
A bio of Mr. Pandis appears on the website for Flushing Financial Solutions, which offers securities through Cetera. “With his banking and investment knowledge, Andrew is able to provide financial guidance to all of his clients and team members,” the bio reads. “He is dedicated to the financial well-being of his clients and closely monitors the financial market trends in order to quickly inform clients of a potential impact to their portfolio.”
FINRA: Andrew Pandis Based in New York City
Mr. Pandis started working as a broker in 1997, when he registered with Sauceda & Granville Securities’ office in Denver, Colorado. He went on to work with a number of firms over the following years, including Olde Discount Corporation and Infinex Investments. He joined his current member firm, Cetera, in 2017, and is still based at its office in New York City. Boasting 26 years of experience as a broker, he has completed three industry exams, including the Series 7 and the Series 63.
Call MDF Law for a Free Consultation Today
If you have lost money on investments recommended by Andrew Pandis, you may have recovery options. The broker fraud attorneys at MDF Law have a lengthy track record of advocacy for investors, securing substantial recoveries through the FINRA arbitration process. We take cases on a contingency basis—clients only pay if they win—and provide free consultations nationwide. Call 800-767-8040 to speak with a lawyer today.