Gustavo Sanchez: $10mm Complaint Against Ex-Arkadios Advisor

Lake Mary, Florida financial advisor Gustavo Sanchez (CRD# 5946258) recently received an investor complaint alleging that his conduct resulted in eight-figure damages. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Arkadios Capital broker is currently registered as an investment advisor with Zafiro.

Mr. Sanchez’s BrokerCheck report discloses two investor complaints. The most recent, filed in September 2026, alleges that as a representative of Arkadios Capital and Arkadios Wealth Advisors, he breached his fiduciary duty. The pending complaint alleges damages of $10 million.

A second disclosure on his BrokerCheck report concerns a disciplinary action against him by the Florida Office of Financial Regulation. Filed in 2021, it stemmed from allegations that he rendered investment advice from a location in Florida without being registered by the Office as an associated person of an investment adviser. He was issued a fine of $10,000.

A third disclosure concerns his termination from Raymond James & Associates. Filed in 2020, it states that the firm fired him in connection with allegations that he “violated the Firm’s selling away and private securities transactions policies by attempting to facilitate a private securities transaction between Firm clients without the Firm’s written approval and providing notice in a manner that did not follow the Firm’s policy.” He also allegedly “failed to follow the Firm’s directive to cease related activity during the internal investigation, and violated the Firm’s gifts policy by attempting to effect the acceptance of a gift of the client’s securities without Firm approval.”

A second investor complaint, filed in 2018, alleged that as a representative of UBS Financial Services, he over-concentrated the customers’ accounts in unsuitable Puerto Rico bonds, which were allegedly misrepresented. The complaint reached a settlement of $70,000.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Gustavo Sanchez holds 14 years of securities industry experience. Based in Lake Mary, Florida, he has been registered as an investment advisor with Zafiro since 2024. His past registrations include Arkadios Capital, Raymond James & Associates, UBS Financial Services, and Lincoln Financial Securities. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Combined State Law Examination, or Series 66. (Information current as of October 26, 2026.)

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