Skip to main content

Exit WCAG Theme

Switch to Non-ADA Website

Accessibility Options

Select Text Sizes

Select Text Color

Website Accessibility Information Close Options
Close Menu
Carlson Law, P.A. Motto
  • Free Consultation
  • ~

Andrew Topka: $297K Complaint Against Blue Oak Group Advisor

Johns Island, South Carolina financial advisor Andrew Topka (CRD# 5070107) recently received an investor complaint alleging his investment advice resulted in six-figure damages. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Kalos Capital broker is currently an investment advisor with The Blue Oak Group.

Mr. Topka’s BrokerCheck report discloses multiple investor complaints against him. The most recent, filed in February 2022, alleges that as a representative of Kalos Capital, he sold unsuitable securities, omitted material facts, breached his fiduciary duty, and failed in his supervisory obligations. The pending complaint alleges damages of $297,500.

An earlier complaint, filed in 2020, alleged that he recommended an investment in GPB Capital that was “worthless.” In 2021 the complaint reached a settlement of $14,500.

A third investor complaint, filed in 2020, alleged he breached his fiduciary duty, over-concentrated the account in alternative investments, and recommended unsuitable securities. In 2021 the complaint reached a settlement of $152,923.

A third investor complaint, filed in 2020, alleged he failed to conduct reasonable due diligence and recommended unsuitable investments in GPB Capital Holdings. In 2021 the complaint reached a settlement of $45,128.

A fifth complaint, filed in 2013, alleged he recommended investments that “did not perform as expected” while a representative of Berthel Fisher & Company. The complaint reached a settlement of $52,000.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Andrew Topka holds 16 years of securities industry experience. Based in Johns Island, South Carolina, he has been an investment advisor with The Blue Oak Group since 2018. He is also registered with the firm’s office in Southborough, Massachusetts. His past registrations include Kalos Capital (Mount Pleasant, South Carolina; 2014-2018), Berthel Fisher & Company Financial Services (Charleston, South Carolina; 2006-2014), and Merrill Lynch (Charleston, South Carolina; 2006). His credentials include the passage of three securities industry qualifying examinations: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is not currently licensed as a broker. (Information current as of July 26, 2022.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Latest Blog Posts

Franklin BSP Realty Trust/Benefit Street Partners Realty Trust Losses

On October 18th, 2021, the non-traded, publicly registered real estate investment trust (REIT) Franklin BSP Realty Trust completed its merger with the publicly traded REIT Capstead Mortgage Corporation. At the...

Read More

Sierra Income: Was Non-Traded BDC Investment Too Risky?

In March 2022 Sierra Income Corp., previously a non-traded business development company (BDC), marked the completion of its merger with Barings BDC Inc., a publicly traded BDC. The successful merger...

Read More

Hospitality Investors Trust Bankruptcy: Investors May Have Options

Hospitality Investors Trust is a publicly registered, non-traded real estate investment trust whose initial offering became effective in 2014 and which declared bankruptcy in 2021. According to the REIT’s website,...

Read More

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Skip footer and go back to main navigation