Current Investigations

Central American Retiree Suffers Six-Figure Loss After Truist Investment Services Unsuitably Recommends Northstar Financial Services (Bermuda)

Published on: September 27, 2021 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Arbitration Hearing Will Take Place in Boca Raton, Florida

An elderly Venezuelan investor is seeking six figures in damages from Truist Investment Services (aka SunTrust Investment Services) over losses he suffered in Northstar Financial Services (Bermuda). The claimant contends that the firm overconcentrated his account by heavily investing his life savings in this off-shore entity, which is now undergoing liquidations proceedings after filing for bankruptcy.

This is one of a number of FINRA arbitration claims that our Northstar Financial Services (Bermuda) attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) have filed against Truist Investment Services and other US-based brokerage firms for unsuitably marketing Northstar (Bermuda).

Tokyo Investors File $500K Northstar Financial Services (Bermuda) Arbitration Claim Against UnionBanc Investment Services

Published on: September 2, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Northstar Bermuda Hearing Will Take Place in San Francisco, California

Two claimants from Tokyo, Japan are pursuing up to $500K in damages from UnionBanc Investment Services, LLC. The investors, who are related, contend that their UnionBanc broker overconcentrated all of their assets in Northstar Financial Services (Bermuda) and caused them significant six-figure investment losses.

Our investor fraud attorneys are representing these Japanese investors in their FINRA arbitration claim. A panel of three arbitrators will hear their case in San Francisco, California.

As July 26th Hearing Date Approaches, SSEK Law Firm Continues To Investigate Northstar Financial Services (Bermuda)

Published on: July 20, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Investors’ Best Recourse For Financial Recovery is to Work With Experienced FINRA Attorneys

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) continues to zealously go after the brokerage firms whose registered representatives unsuitably recommended and sold Northstar Financial Services (Bermuda) products to their customers.

Already, we’ve filed several Financial Industry Regulatory Authority (FINRA) arbitration claims against broker-dealers on behalf of investors.

SSEK Investigates Claims That Charles Schwab Recommended Advisory Firms Market Vida Longevity Fund To Customers

Published on: July 19, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Charles Schwab Should Have Known RIAs Were Promoting the Fund

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is looking into losses suffered by Vida Longevity Fund, LP investors. Many investors were recommended this open-ended hedge fund by Creative Planning, Pin Oak Investment Advisors, or other registered investment advisors (RIAs) that Charles Schwab Corporation referred them to.

While it is not uncommon for Schwab to recommend RIAs to clients, the broker-dealer either knew or should have known that these firms were marketing the Fund to customers.

J.P. Morgan Securities’ Recommendation of Old Mutual Bermuda Causes Mexican Investor To Suffer Six-Figure Loss

Published on: July 14, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Old Mutual Investor Seeks Up To $500K in Damages

An investor from Mexico has filed a Financial Industry Regulatory Authority (FINRA) arbitration case against J.P. Morgan Securities over the losses she suffered in Old Mutual (Bermuda). The off-shore entity is owned by Greg Lindberg’s Global Bankers, which also owns Northstar Financial Services (Bermuda).

The latter is already the subject of many FINRA arbitration claims against the broker-dealers and their registered representatives that unsuitably recommended products from that off-shore entity to its customers.

David Lerner Associates Unsuitably Recommended Energy Resources 12 and Energy 11 To Disabled Widower

Published on: July 13, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Family of Senior Investor Pursues Up to $500K in Damages on His Behalf

The family of a Connecticut widower has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against David Lerner Associates after the older investor suffered a six-figure loss in Energy 11 and Energy Resources 12, which are sold exclusively by the brokerage firm to its customers.

The claimant, who suffers from diminished capacity and is not fluent in English, is an unsophisticated investor who should never have been invested in these oil and gas-related investments. Yet for whatever reason, a David Lerner Associates broker unsuitably recommended both of these financial products.

Northstar Financial Services (Bermuda) Investors Seek Up to $500K in Damages from SunTrust Bank Division, Truist Investment Services

Published on: May 28, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Colombian Claimants Allege Negligence, Misrepresentations, and Failure to Supervise

Two investors from Bogota, Colombia are pursuing a Financial Industry Regulatory Authority (FINRA) arbitration claim against Truist Investment Services for the losses they suffered in Northstar Financial Services (Bermuda). The claimants, who are from the same family, had looked to the brokerage firm, which is affiliated with SunTrust Bank, to keep their assets safe.

As longtime SunTrust Bank clients with an account in Florida, the investors were not interested in taking on any undue risk and were mostly invested in bank products, including money markets. Yet, Truist Investment Services recommended that the claimants invest more than $125K in Northstar Financial Services (Bermuda).

Ex-Customer Of Unionbanc Investment Services Broker Asako Thompson Files $500K Northstar Financial Services (Bermuda) Fraud Claim

Published on: May 18, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Japanese Investor’s Savings Were Overconcentrated in Offshore CD

An investor who lives in Japan has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Unionbanc Investment Services and its California-based broker, Asako Kanekiyo Thompson.

The claimant suffered losses in an offshore certificate of deposit (CD) from Northstar Financial Services (Bermuda) that was recommended to him by Thompson. BrokerCheck reports that Thompson has been a Unionbanc Investment Services investment advisor and broker for 16 years.

Northstar Financial Services (Bermuda) Investor Seeks Up to $5M in Damages from Hancock Whitney Investment Services

Published on: April 28, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Central American Retiree Worked with Louisiana-based Financial Advisor Robin Platt

In his Financial Industry Regulatory Authority (FINRA) arbitration claim against Hancock Whitney Investment Services, Inc., a senior investor in Central America is seeking up to $5M in damages. The senior investor suffered losses when he invested $1.25M in Northstar Financial Services (Bermuda) at the recommendation of Hancock Whitney Investment Services broker, Robin Platt.

The claimant, a longtime Hancock Whitney Bank client, had mostly invested in bank products and kept his money in checking/savings accounts. In 2016, Platt recommended the Bermuda-based investment, which would go on to make up the majority of the retiree’s portfolio.

Retirees Seek Up to $500K in Northstar Financial Services (Bermuda) Claim Against J.P. Morgan Securities

Published on: April 26, 2021 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Arbitration Claim Was Brought by Mexican Investors Who Trusted US Broker-Dealer To Keep Their Assets Safe

A retired couple from Mexico is requesting up to $500K plus interest and costs from J.P. Morgan Securities, LLC over losses they suffered from investing in a Northstar Financial Services (Bermuda) variable annuity.

Because the carrier, Northstar Bermuda, is located off-shore in Bermuda, the policy that the investors purchased was not protected in the same way as those sold by US-based carriers. Now, the claimants are alleging the following: