Sharon Sykes: $500K Complaint Against ELE Advisor

Southfield, Michigan financial advisor Sharon Sykes (CRD# 1334948) recently received an investor complaint alleging that her conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that she is registered as a broker with ELE Wealth Solutions and an investment advisor with ELE Advisory Services.

Ms. Sykes’s BrokerCheck report discloses one investor complaint. Filed in June 2026, it alleges that as a representative of ELE Wealth Solutions, she recommended and sold insurance policies that the customer could not afford; it also alleges that the customer’s “accounts were converted to cash when there was no need for liquidity.” The pending complaint alleges damages of $500,000.

Investors should be aware that Rule 15l-1(a)(1) of the Securities Exchange Act of 1934, also known as Regulation Best Interest, requires advisors like Ms. Sykes to recommend only investments and strategies that are in their clients’ best interests. The rule states specifically that firms and their representatives must “act in the best interest of the retail customer at the time the recommendation is made, without placing the financial or other interest of the broker, dealer, or natural person who is an associated person of a broker or dealer making the recommendation ahead of the interest of the retail customer.” This rule is similar to FINRA’s suitability rule, which requires brokers to recommend investments that are in line with their customers’ background and objectives. They must conduct reasonable diligence to determine whether the investment is suitable for some investors, whether it is suitable for the specific investor, and, in cases where the advisor exercises discretion over trading in a customer’s account, they must conduct reasonable diligence to determine that a series of transactions is not unsuitable or excessive.

According to the Financial Industry Regulatory Authority, Sharon Sykes holds 31 years of securities industry experience. Based in Southfield, Michigan, she has been registered as a broker and an investment advisor with ELE Wealth Solutions and ELE Advisory Services, respectively, since 2020. Her past registrations include Innovation Partners, IP Financial Advisory Services, 1ST Consumer Advisory Group, Nepsis Capital Management, Kovack Securities, Jonathan Roberts Financial Group, Southern Capital Securities, FSC Securities, Andover Securities, Royal Alliance Associates, USLife Equity Sales, and First American National Securities. Her credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative, or Series 6; and the Uniform Securities Agent State Law Examination, or Series 63. She holds 37 state licenses. (Information current as of August 13, 2026.)

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.