Libertad Ortiz Contreras Named in Dispute Seeking Six-Figure Damages

Libertad Ortiz Contreras (CRD #: 4649349), a broker registered with Flourish Financial, is involved in a pending dispute, according to her BrokerCheck record, accessed on March 21, 2023. Keep reading if you want to know more about her alleged conduct as a broker.

Investor Dispute

On January 31, 2023, an investor named Libertad Ortiz Contreras in a dispute alleging that Raymond James Financial Services and the UN Federal Credit Union failed to conduct adequate due diligence and/or monitoring of an investment in Northstar Financial Services. Libertad Ortiz Contreras allegedly sold the client this investment in 2015.

The client seeks $400,000 in damages in this pending dispute.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must take into account an investor’s tax status, risk tolerance, and other characteristics described in their profile.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Termination from Raymond James Financial Services

On February 2, 2018, Libertad Ortiz Contreras was fired from Raymond James Financial Services for allegedly attempting to correct a misquote of an offshore trust rate without the firm’s knowledge. The firm allegedly also investigated emails sent to clients to solicit the purchase of offshore trusts, which allegedly contained language that was not fair or balanced.

FINRA Rule 2210

FINRA Rule 2210 defines how firms and brokers can communicate with the public (e.g., in advertising). All communications with the public are required to be fair, balanced, and free from any false or misleading statements.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Libertad Ortiz Contreras has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 99TO – Operations Professional Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Libertad Ortiz Contreras is a registered broker in all 50 states as well as the District of Columbia, Puerto Rico, and the Virgin Islands.

She has also worked for the following firms:

• Raymond James Financial Services Advisors (CRD#:149018)
• Raymond James Financial Services (CRD#:6694)
• Financial Network Investment Corporation (CRD#:13572)

Kurta Law Can Help

If you worked with Libertad Ortiz Contreras and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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.