Our firm is investigating Cetera Investment Services LLC broker and Cetera Investment Advisers LLC investment adviser Enric Sifa (CRD# 6584332) of Poulsbo, Washington for potential investment-related misconduct.
Financial Advisor’s Career History
Enric Sifa is currently registered with Cetera Investment Services LLC as a broker, with that registration effective May 30, 2025, and with Cetera Investment Advisers LLC as an investment adviser representative, effective October 22, 2025, both from a Poulsbo, Washington office.
His prior registration history listed in BrokerCheck shows the following firms and dates:
- AXA Advisors, LLC — March 2016 to July 2017
- NYLIFE Securities LLC — September 2017 to January 2022
- Ameriprise Financial Services, LLC — January 2022 to February 2025
- Cetera Investment Services LLC — since May 2025
- Cetera Investment Advisers LLC — since October 2025
Enric Sifa Fraud Allegations and Investor Complaints Explained
BrokerCheck reflects one final customer dispute disclosure and one pending financial disclosure for Mr. Sifa. The customer dispute arose from conduct alleged to have occurred while he was associated with NYLIFE Securities LLC. According to the disclosure, the customer alleged she was misled into purchasing a variable universal life insurance policy in June 2018 and sought the return of premiums paid. The complaint was received on April 2, 2021, alleged damages of $16,000, and was settled on May 18, 2021 for $16,000, with no individual contribution by Mr. Sifa.
Customer Dispute Disclosure
The settled customer complaint states that:
- Employing firm at the time of the alleged conduct: NYLIFE Securities LLC
- Allegation: customer was misled into purchasing a variable universal life insurance policy in June 2018
- Product type: Insurance
- Date complaint received: April 2, 2021
- Alleged damages: $16,000
- Disposition: Settled
- Status date: May 18, 2021
- Settlement amount: $16,000
- Individual contribution amount: $0
- Complaint format: written complaint, not arbitration or civil litigation
Other Reported Disclosure Events
BrokerCheck also shows a separate pending financial disclosure. It is reported as a compromise with Navy Federal Credit Union dated March 11, 2025, with an original amount owed of $16,443. The disclosure states that the matter is pending and that a payment plan is in process.
Disclosure Summary for Context
For quick reference, the disclosures reported in BrokerCheck are:
- Customer Dispute — final; settled; allegation that customer was misled into purchasing a variable universal life insurance policy; settlement amount $16,000.
- Financial Disclosure — pending; compromise with Navy Federal Credit Union; original amount owed $16,443; payment plan reportedly in process.
Investors evaluating these disclosures should consider the nature of the alleged misrepresentation, the insurance product involved, the damages claimed, and the fact that BrokerCheck reflects both a settled customer complaint and a separate pending financial event. To obtain a copy of Enric Sifa’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2090 is the Know Your Customer rule. It requires brokers to use reasonable diligence to understand the essential facts concerning each customer and each account they handle. In the context of the complaint reported on Mr. Sifa’s BrokerCheck record, an allegation that a customer was misled into purchasing a variable universal life insurance policy can raise Rule 2090 concerns if the recommendation was made without a sufficient understanding of the customer’s needs, objectives, liquidity concerns, or tolerance for the policy’s long-term costs and features.
FINRA Rule 2111 is the suitability rule. It requires a broker to have a reasonable basis to believe that a recommendation is suitable for the customer based on that customer’s investment profile. Here, the reported complaint involved a variable universal life insurance policy, alleged damages of $16,000, and a settlement in the same amount. If the product was recommended despite being inconsistent with the customer’s financial situation or goals, the allegations could implicate Rule 2111.
FINRA Rule 2010 requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Allegations that a customer was misled into buying a financial product can implicate Rule 2010 because misleading statements, omissions of material information, or unfair sales practices are inconsistent with the ethical standards FINRA expects of registered representatives. Although a settlement is not itself a finding of wrongdoing, the nature of the allegation is the type of conduct often analyzed under Rule 2010.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker misconduct and investment fraud. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.