National investment loss lawyers KlaymanToskes is investigating Sandro M. Olivos (CRD# 3228574) and Ocean Financial Services after the former broker/financial advisor was named in an investor complaint alleging $80,000 in damages due to misrepresented risks of investments in Northstar Financial Services (Bermuda).
The customer also alleged that the unsuitable Northstar investments resulted in an over-concentration in his portfolio and that Olivos failed to disclose high commissions in the account. The complaint was settled in favor of the investor in the amount of $45,000.
Investors that suffered losses in Northstar (Bermuda) at Ocean Financial Services with Sandro Olivos and/or any other financial advisor are encouraged to contact attorney Lawrence L. Klayman, Esq., for a free consultation to discuss recovery options at 888-997-9956 or lklayman@klaymantoskes.com. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Northstar Financial Services (Bermuda), founded in the 1990’s, was a Segregated Accounts Company regulated by the Bermuda Monetary Authority that promoted its fixed and variable annuity products as offering segregated account protection, generous liquidity terms and a variety of commitment periods, as well as the benefits of a Bermuda trust structure.
The SEC’s Regulation Best Interest (Reg BI) requires brokerage firms and their financial advisors to make recommendations with their client’s best interest in mind, based upon the client’s needs, age, and investment objectives.
While Northstar and its entities are now defunct, investors can recover their losses by pursuing FINRA arbitration against the brokers who sold these investments. Many investors in Northstar were foreign nationals, including individuals from Mexico, South America, China, and Japan.
KlaymanToskes has assisted investors throughout the world in recovering their investment losses. Our firm can help you determine if your Northstar investment loss is due to a securities violation such as unsuitability, misrepresentation, a breach of fiduciary duty, failure to supervise, and/or negligence.
The following are investment entities of Northstar (Bermuda) that investors may have been recommended by their firm or broker/advisor:
Omnia, Ltd. – Also doing business as Beechwood Bermuda, Beechwood Omnia, Old Mutual
Products: Guaranteed Rate Plan
Guaranteed Index Plan
Universal Investment Plan
PB Investment Holdings – Variable and fixed rate annuity products
PB Life and Annuity – Insurance/annuity products
If you suffered losses in Northstar (Bermuda) and/or any of its related entities, contact attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com for a free consultation to discuss recovery options. We do not collect attorney’s fees unless we obtain a financial recovery for you.
See Our Related Blog: “Attention Beechwood Bermuda Investors: Cetera Investment Services Brokers Named in Over $5M in Customer Complaints”
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com