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Tom Endersbe: SagePoint Denies $70K REIT/BDC Complaint
St. Louis Park, Minnesota financial advisor Tom Endersbe (CRD# 1407028) allegedly recommended an unsuitable real estate investment trust, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with SagePoint Financial, as well as the owner of Comprehensive Financial Solutions.
Mr. Endersbe’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in February 2023, alleged that as a representative of SagePoint Financial, he recommended unsuitable investments in an REIT and business development companies. The complaint alleged damages of $70,000 and was denied by the firm.
An earlier investor complaint, filed in 2003, alleged that as a representative of American Express Financial Advisors, he failed to disclose a sales charge associated with the purchase of B-share mutual funds. The complaint reached a settlement of $4,175.50.
A third investor complaint, filed in 2002, alleged that he made unsuitable changes to the investor’s portfolio and failed to disclose charges that would be incurred by early redemptions. The complaint alleged damages of $275,493 and was denied by the firm, American Express Financial Advisors.
According to the Financial Industry Regulatory Authority, Tom Endersbe holds 37 years of securities industry experience. Based in St. Louis Park and Elk River, Minnesota, he has been registered as a broker and an investment advisor with SagePoint Financial since 2009 and 2010, respectively. He is the owner of Comprehensive Financial Solutions. His past registrations include Ameriprise Financial Services (Edina, Minnesota; 1989-2009), IDS Life Insurance Company (Minneapolis, Minnesota; 1989-2006), American Express Financial Advisors (1985-1989), and IDS Financial Services (1985-1986). His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He currently holds 59 state licenses. (Information current as of March 26, 2023.)
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