Northstar Financial Services (Bermuda) Investment Losses with Former Raymond James Financial Services, Inc. Broker Libertad Contreras

Northstar Financial Services (Bermuda) Ltd.

Former Raymond James Financial Services, Inc. broker Libertad Contreras (CRD# 4649349) is accused of Northstar Financial Services (Bermuda) investment losses. He has been registered with Flourish Financial LLC in New York, New York, since 2019. Previously, he was registered with Raymond James Financial Services Advisors, Inc. in New York, New York from January to February 2018, when he was terminated regarding, “Raymond James Financial Services, Inc. provided the following summary of the allegations on Form U5: “[Ms. Ortiz] was under internal investigation related to her attempt to correct an error made related to an offshore trust rate misquote without engaging management. In addition, the Firm was investigation emails sent by [Ms. Ortiz] soliciting the purchase of offshore trusts to multiple clients. A review of the emails suggested that the verbiage used to solicit the offshore trust was not fair and balanced.”

He was also registered with Raymond James Financial Services, Inc. in New York, New York, from 2004 to 2018.

Libertad Contreras Customer Complaints

He has been the subject of one customer complaint, according to his CRD report:

January 2023. “Ms. Ortiz Contreras sold the client an investment in Northstar Financial Services (Bermuda) Ltd in 2015 while registered with Raymond James. Ms. Ortiz Contreras separated from Raymond James in 2018. The customer’s investment was subsequently renewed in 2019-2020. Former client alleges purchasing a Northstar Financial Services (Bermuda) Ltd investment for which Raymond James and the UN Federal Credit Union failed to conduct adequate due diligence or monitoring of the investment.” The customer sought $400,000 in damages, and the case was settled for $120,000. The complaint took place while he was registered with Raymond James Financial Services, Inc., and it was regarding fixed annuities. 

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Raymond James Financial Services, Inc. may be liable for investment or other losses suffered by Libertad Contreras’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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