{"id":93811,"date":"2021-04-27T17:19:00","date_gmt":"2021-04-27T14:07:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-retirees-seek-up-to-500k-in-northstar-financial-services-bermuda-claim-against-j-p-morgan-securities\/"},"modified":"2021-04-28T02:00:17","modified_gmt":"2021-04-28T06:00:17","slug":"pensionados-exigen-hasta-500000-a-traves-de-demanda-de-northstar-financial-services-bermudas-contra-j-p-morgan-securities","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/pensionados-exigen-hasta-500000-a-traves-de-demanda-de-northstar-financial-services-bermudas-contra-j-p-morgan-securities\/","title":{"rendered":"Retirees Seek Up to $500K in Northstar Financial Services (Bermuda) Claim Against J.P. Morgan Securities"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">HOUSTON<\/span>, <span class=\"xn-chron\">April 27, 2021<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; A retired couple from <span class=\"xn-location\">Mexico<\/span> is requesting up to <span class=\"xn-money\">$500K<\/span> plus interest and costs from J.P. Morgan Securities, LLC over losses they suffered from investing in a Northstar Financial Services (<span class=\"xn-location\">Bermuda<\/span>) variable annuity.\u00a0Because the carrier, Northstar Bermuda, is located off-shore in <span class=\"xn-location\">Bermuda<\/span>, the policy that the investors purchased was not protected in the same way as those sold by US-based carriers. <\/p>\n<div id=\"prni_dvprnejpgbe2eleft\" style=\"WIDTH: 100%; TEXT-ALIGN: left\" dir=\"ltr\"><img decoding=\"async\" id=\"prnejpgbe2eleft\" title=\"Shepherd Smith Edwards &amp; Kantas LLP.\" border=\"0\" alt=\"Shepherd Smith Edwards &amp; Kantas LLP.\" align=\"middle\" imagelabel=\"General\" src=\"https:\/\/mma.prnewswire.com\/media\/334439\/shepherd_smith_edwards___kantas_llp_logo.jpg \"\/><\/div>\n<p>Now, the claimants are alleging the following:\u00a0misrepresentations &amp; omissions, unsuitable recommendations, failure to supervise, breach of contract, overconcentration, negligence &amp; gross negligence, and breach of fiduciary duty, and other violations that resulted in their significant investment losses.<\/p>\n<p>Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are representing these Mexican investors in their case against J.P. Morgan Securities. The Financial Industry Regulatory Authority (FINRA) arbitration hearing will take place in <span class=\"xn-location\">Houston<\/span>, Texas.\u00a0<\/p>\n<p>These senior investors specifically travelled to <span class=\"xn-location\">Texas<\/span> to set up a US bank account. They wanted protection for their assets from <span class=\"xn-location\">Mexico&#8217;s<\/span> fluctuating currency that was being negatively affected by government and economic instability.\u00a0<\/p>\n<p>While it was reasonable for their J.P. Morgan Securities broker to recommend that they invest in a\u00a0variable annuity\u00a0\u2014 typically a safe and suitable investment for most retail investors seeking principal protection \u2014 it was unsuitable to recommend a variable annuity from Northstar Bermuda.\u00a0<\/p>\n<p>The fact that this was an offshore carrier automatically exposed the claimants to undue risk.\u00a0<\/p>\n<p>According to SSEK Law Firm attorney,\u00a0Luis J. Acevedo-Bengoechea, &#8220;People from <span class=\"xn-location\">Latin America<\/span> bring their assets to invest in the US seeking stability. It is reprehensible that a licensed financial advisor would then recommend a product that is held off-shore when reasonable US investments were available.&#8221;<\/p>\n<p>Northstar Financial Services (<span class=\"xn-location\">Bermuda<\/span>) has offered variable- and fixed-rate annuity investment products to investors, many of whom were drawn to these products because of the tax benefits offered in Bermuda.\u00a0<\/p>\n<p>SSEK Law Firm is looking into similar complaints brought by customers of Ocean Financial Services,\u00a0Bankoh Investment Services, J.P. Morgan Securities, Truist Investment Services and other broker-dealers who may have unsuitably recommended these products to their customers.\u00a0<\/p>\n<p>Contact:<\/p>\n<p><span class=\"xn-person\">Kirk Smith<\/span><\/p>\n<p><a target=\"_blank\" href=\"mailto:ksmith@sseklaw.com\" rel=\"nofollow\">ksmith@sseklaw.com<\/a><\/p>\n<p>Toll Free: 800-259-9010<\/p>\n<p>Mexico Toll Free: 800-283-3403<\/p>\n<p>WhatsApp International (Text Only): 713-224-2400<\/p>\n<p>Logo &#8211; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3142352-1&amp;h=3401485886&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F334439%2Fshepherd_smith_edwards___kantas_llp_logo.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F334439%2Fshepherd_smith_edwards___kantas_llp_logo.jpg\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/334439\/shepherd_smith_edwards___kantas_llp_logo.jpg<\/a> <\/p>\n<p>SOURCE  Shepherd Smith Edwards &amp; Kantas LLP<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">HOUSTON<\/span>, <span class=\"xn-chron\">April 27, 2021<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; A retired couple from <span class=\"xn-location\">Mexico<\/span> is requesting up to <span class=\"xn-money\">$500K<\/span> plus interest and costs from J.P. Morgan Securities, LLC over losses they suffered from investing in a Northstar Financial Services (<span class=\"xn-location\">Bermuda<\/span>) variable annuity.\u00a0Because the carrier, Northstar Bermuda, is located off-shore in <span class=\"xn-location\">Bermuda<\/span>, the policy that the investors&#8230;<\/p>\n","protected":false},"author":1,"featured_media":93812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-93811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/93811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=93811"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/93811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/93812"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=93811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=93811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=93811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}