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Stephen Berrocal Subject of a Million-Dollar Dispute

Stephen Berrocal (CRD #: 3071400), a broker registered with Truist Investment Services, is the subject of a million-dollar dispute, according to his BrokerCheck record, accessed on December 29, 2022. Certain investors have alleged Berrocal recommended shares of Northstar Financial Services (Bermuda), which has since entered liquidation.

Investment Disputes

On October 12, 2022, an investor alleged Stephen Berrocal recommended unsuitable investments. The investor is seeking $1,000,000. 

According to allegations filed on September 7, 2022, Stephen Berrocal recommended an unsuitable investment, resulting in a $100,000 loss. 

There are also disputes from 2021 and 2020. 

  • According to allegations filed on October 5, 2021, Stephen Berrocal’s unsuitable investments resulted in a $500,000 loss. This dispute is pending. 
  • On April 26, 2021, an investor alleged that Stephen Berrocal recommended unsuitable investments. The dispute settled for $155,000.
  • On March 17, 2021, an investor alleged that Berrocal recommended unsuitable investments. The dispute settled for $225,000.
  • On September 9, 2020, an investor alleged that Berrocal recommended unsuitable investments. The investor sought $500,000, the dispute settled for $150,000.

Background Information

Stephen Berrocal 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 eight states and a registered investment adviser in Florida.

Berrocal has registered with the following firms:

  • Truist Investment Services (CRD #: 17499)
  • Truist Advisory Services (CRD #: 283390)
  • SunTrust Investment Services (CRD #: 17499)
  • J.P. Morgan Securities (CRD #: 79)
  • Chase Investment Services Corp (CRD #: 25574)
  • Wells Fargo Advisors (CRD #: 19616)
  • A.G. Edwards & Sons (CRD #: 4)
  • Sterling Financial Investment Group (CRD #: 41506)

Kurta Law Can Help 

If you worked with Stephen Berrocal and you have concerns about the suitability of your Northstar (Bermuda), contact Kurta Law today. Call 212-658-1502 or email jkurta@kurtalawfirm.com.

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.