Mahany Ortiz: Ex-Raymond James Advisor Faces $400K Northstar Complaint

New York City financial advisor Mahany Ortiz (CRD# 4649349) is involved in an investor complaint alleging that she recommended an investment in Northstar Financial Services that resulted in six-figure losses. Records provided by the Financial Industry Regulatory Authority show that she is currently registered as a broker with Flourish Financial, having previously been registered with Raymond James Financial Services.

Ms. Ortiz’s BrokerCheck report discloses one investor complaint. The most recent, filed in January 2023, alleges that as a representative of Raymond James Financial Services, she sold an investment in a Northstar Financial Services fixed annuity for which the firm and the UN Federal Credit Union did not “conduct adequate due diligence or monitoring.” The pending complaint alleges damages of $400,000.

A second disclosure on Ms. Ortiz’s BrokerCheck report concerns her termination from Raymond James Financial Services. Filed in February 2018, the disclosure states that she was fired in connection with allegations that she “was under internal investigation related to her attempt to correct an error made related to an offshore trust rate misquote without engaging management.” The disclosure states further that the firm was examining emails she sent “soliciting the purchase of offshore trusts to multiple clients,” and that a “review of the emails suggested that the verbiage used to solicit the offshore trust was not fair and balanced.”

According to the Financial Industry Regulatory Authority, Mahany Ortiz holds Mahany Ortiz holds 18 years of securities industry experience. Based in New York, New York, she has been a broker with Flourish Financial since April 2019. Her past registrations include Raymond James Financial Services (New York, New York; 2004-2018) and Financial Network Investment Corporation (El Segundo, California; 2003-2004). Her credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. She currently holds 53 state licenses. (Information current as of May 3, 2023.)

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