Santiago Torres: Did Truist Advisor Misappropriate Funds?

Wyomissing, Pennsylvania financial advisor Santiago Torres (CRD# 5644622) recently received an investor complaint alleging that he misappropriated customer funds. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Truist Investment Services and Truist Advisory Services, respectively.

Mr. Torres’ BrokerCheck report discloses one investor complaint. Filed in August 2024, it alleges that as a representative of Truist Investment Services, he “misappropriated various family member’s funds” in connection with a fixed annuity and a certificate of deposit. The pending complaint alleges unspecified damages.

Truist Investment Services’ website includes a profile of Mr. Torres that describes his background and experience. “He’s spent more than 14 years in the private client space working with affluent families and business owners focusing on providing a comprehensive approach to wealth management and planning,” it states. “During Santiago’s time off, he enjoys the outdoors and traveling with his family. He also enjoys coaching his two young boys who play baseball and soccer throughout the year. Santiago enjoys volunteering and helping the his [sic] communities through the Truist Lighthouse Project.”

According to the Financial Industry Regulatory Authority, Santiago Torres holds 14 years of securities industry experience. Based in Wyomissing, Pennsylvania, he has been registered as a broker and an investment advisor with Truist Investment Services and Truist Advisory Services, respectively, since 2021. His past registrations include BB&T Securities, BB&T Investment Services, PNC Investments, and Chase Investment Services. His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 45 state licenses. (Information current as of August 25, 2024.)

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