Our firm is investigating Cetera Investment Services LLC and Cetera Investment Advisers LLC financial advisor Christine Maushardt (CRD# 5520504) of Pearl River, New York for potential investment-related misconduct.
Financial Advisor’s Career History
According to her FINRA BrokerCheck report, Christine Maushardt has been registered with Cetera Investment Advisers LLC (investment adviser representative) and Cetera Investment Services LLC (registered representative) since June 2019.
Prior to joining Cetera, Maushardt was registered with Foresters Financial Services, Inc. from August 2008 through June 2019, and with Foresters Advisory Services, LLC from December 2016 through June 2019.
Christine Maushardt Fraud Allegations and Investor Complaints Explained
FINRA’s BrokerCheck discloses one customer dispute for Maushardt.
Pending FINRA Arbitration Alleging “Not in Best Interest” Variable Annuity Sale
A customer alleges she was sold a variable annuity that was not in her best interest, with alleged damages of $40,000. The arbitration was filed in FINRA with case number 25-01935, with a filing date of 09/15/2025 and a complaint received date of 10/01/2025. The matter is listed as pending.
Disclosure Summary (for context)
- Customer Dispute (Pending – FINRA Arbitration): Customer alleges sale of a variable annuity not in her best interest; alleged damages: $40,000; FINRA Case #25-01935; filed 09/15/2025; complaint received 10/01/2025.
Maushardt’s BrokerCheck report reflects this as the only disclosed customer dispute event currently reported.
To obtain a copy of Christine Maushardt’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) generally requires that a broker have a reasonable basis to believe a recommendation is suitable for the customer, based on the customer’s investment profile (such as risk tolerance, objectives, liquidity needs, time horizon, and other relevant factors). In a dispute alleging an annuity was sold “not in the customer’s best interest,” suitability issues may arise if the product’s costs, surrender period, and risk characteristics were inconsistent with the customer’s needs or if material downsides were not adequately considered.
FINRA Rule 2330 (Members’ Responsibilities Regarding Deferred Variable Annuities) sets specific expectations around variable annuity transactions, including how firms and associated persons handle suitability review and supervisory practices for these products. In a variable annuity complaint like the one disclosed here, the rule can be implicated where the recommendation did not appropriately account for the customer’s profile or where the review process failed to identify red flags tied to the annuity’s complexity, costs, or surrender features.
FINRA Rule 3110 (Supervision) requires firms to establish and maintain a system to supervise the activities of associated persons to ensure compliance with securities laws and FINRA rules. Where a customer alleges harm from an unsuitable annuity recommendation, supervision may be a key issue—particularly whether the firm’s policies, product oversight, and review mechanisms were reasonably designed and effectively implemented to prevent or catch problematic sales practices.
Losing your savings to a dishonest broker or advisor can be devastating, but you do not have to face it alone. Robert Wayne Pearce and his team have spent over four decades helping investors who were misled or defrauded by Wall Street firms. The Law Offices of Robert Wayne Pearce, P.A. takes cases nationwide on a contingency fee basis. You pay nothing unless we recover your losses. Call (800) 732-2889 or email pearce@rwpearce.com today for a free and confidential consultation.