Alberto Valdes Faces $500,000 Northstar (Bermuda) Dispute
Alberto Valdes (CRD #: 4378138), a broker registered with CitiGroup Global Markets, is involved in an investor dispute, according to his BrokerCheck record, accessed on October 19, 2021. The investor is seeking six figures. Investors should know that this is not the only dispute on Alberto Valdes’ record.
Investor Dispute: Northstar Financial Services (Bermuda)
On September 15, 2021, an investor alleged that Alberto Valdes recommended an unsuitable investment in an offshore product called Northstar Financial Services (Bermuda). Northstar Financial Services (Bermuda) was recently ordered to liquidate and is no longer solvent. Many Northstar (Bermuda) investors have suffered major losses.
The investor is seeking $500,000; the dispute is pending.
Did Alberto Valdes Violate FINRA Rule 2111?
Investors who purchase unsuitable investments based on their broker recommendation may be entitled to recover losses through FINRA arbitration. FINRA Rule 2111 prohibits brokers from recommending investments that do not fit their investor’s needs. Suitable investments take the investor’s financial goals, risk tolerance, age, and investing experience into consideration. Brokers who recommended Northstar (Bermuda) may have earned significant commissions.
Investor Dispute: Death Benefit
On August 18, 2017, investors alleged that Alberto Valdes did not fully explain the death benefit feature of an annuity. This dispute was denied, but firms can deny disputes without a third-party review. Investors can still recover losses through FINRA arbitration following a denial.
Alberto Valdes Background Information
Alberto Valdes has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 6 Investment Company Products/Variable Contracts Representative Examination
He is a registered broker in five states and is a registered investment adviser in Florida.
Alberto Valdes has worked with the following firms:
- CitiGroup Global Markets (CRD #: 7059)
- Raymond James Financial Services Advisors (CRD #: 149018)
- Raymond James Financial Services (CRD #: 6694)
- Wells Fargo Advisors (CRD #: 19616)
- Chase Investment Services (CRD #: 25574)
- Investacorp Advisory Services (CRD #: 109011)
- Investacorp (CRD #: 7684)
- Banc of America Investment Services (CRD #: 16361)
- Northwestern Mutual Investment (CRD #: 2881)
Kurta Law Can Help
If you lost money while working with Alberto Valdes, please contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.