Articles Tagged with Ocean Financial Services

Global VIP and Global Advantage Select Were Unsuitable For Claimants

Two older investors from Venezuela have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Ocean Financial Services over losses they sustained in Northstar Financial Services (Bermuda). They are requesting about $385K, plus interests and costs, after the broker-dealer unsuitably recommended Northstar (Bermuda)’s Global Advantage Select and Global VIP. 

Shepherd Smith Edwards and Kantas, LLP and Sonn Law Group, PA jointly represent this couple. A FINRA arbitration panel will hear their Northstar Financial Services (Bermuda) investment claim in Boca Raton, Florida. 

Latin American Investor Pursuing Up to $500K in Northstar Financial Services (Bermuda) Damages 

An older Latin American investor who was unsuitably recommended and sold a Northstar Financial Services (Bermuda) product is requesting up to $500K in damages from Ocean Financial Services. The claimant, who initially just had accounts at Ocean Bank, was advised to invest her money beyond checking and bank accounts. 

This would result in Ocean Financial Services overconcentrating a huge chunk of assets belonging to her and her mother in Northstar Financial Services (Bermuda), which is now defunct. Not only that, but the firm should have never recommended these products to this investor after 2015, which is when she moved to the United States. 

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