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Investigation of Truist Investment Services, Inc. Broker Stephen Berrocal Who Allegedly Recommended Northstar GIC

Posted on Thursday, June 3rd, 2021 at 6:49 pm    

Truist Investment Services

There are options for clients of Truist Investment Services, Inc. broker Stephen Berrocal (CRD# 3071400) who suffered investment losses due to investments in Northstar GIC.

Berrocal has been registered with Truist Investment Services, Inc. in Coral Gables, Florida since 2013. 

Berrocal has been the subject of two customer complaints between 2020 and 2021, according to his CRD report:

March 2021. “Client alleges unsuitable recommendations.” The customer is seeking $626,111.68 in damages and the case is currently pending. The complaint was regarding GIC, a global long-term investor with well over $100 billion in assets in over 40 countries worldwide. 

September 2020. “Client alleges unsuitable recommendations.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint was regarding GIC investment losses.

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, Truist Investment Services, Inc. may be liable for investment or other losses suffered by Berrocal’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.