Finra Panel Orders Truist To Pay Client $2.7M Over Northstar Annuity Sales
March 24, 2026 by FA Staff
An arbitration panel has ordered Atlanta broker-dealer Truist Financial to pay an investor more $2.7 million for his investment in a defunct Bermuda insurance firm that sold annuity products and that was linked to a Florida insurance mogul who has pleaded guilty to fraud.
Several other big broker-dealers, including Raymond James, JPMorgan and Cetera, also had reps recommend the investments, according to the plaintiffs’ attorneys, and one law firm alone told Financial Advisor it has settled more than 20 cases related to Northstar Financial Services (Bermuda), whcih eventually went bankrupt. Many of the investors were from Latin America.
Originally Posted at Financial Advisor on Mar 24, 2026 by FA Staff.
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