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Business Profile

Financial Planning Consultants

North Star Investment Management Corporation

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Financial Planning Consultants.

Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 1 complaint closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:07/20/2024

    Type:Order Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I am writing to file a formal complaint against North Star Investment Management, ****************************, and the law firm ***************** I believe they have violated their fiduciary duties and engaged in unethical and potentially illegal activities regarding the management of my trust and personal finances.Background:Trust Establishment: In 1985, *************************, *******/****** became involved in the establishment of the **************************************** Trust #1. Conflict of Interest: UnAuthorized ******* ********* invested Mismanagement and Abuse: In 1991, ************************* sent me to **************************** in *******, **, after expulsion from ****************. During my time there, I experienced severe abuse, brainwashing, and was subjected to inhumane treatment.Fiduciary Breach: ****** and his associates have consistently refused my requests for performance reports & forensic audits of my trust, failing to act in my best interest and violating fiduciary duties, including the duty of loyalty, care, & disclosure.Details of the Complaint:Financial Mismanagement: My trust has been mismanaged, with investments made that do not align with my best interests. Notably, a significant portion of my assets was allocated to the North Star ********************** (NSOIX), which has underperformed compared to standard benchmarks like the ****** and S&P 500.Lack of Transparency: Despite repeated requests, I have been denied access to detailed performance reports, fee breakdowns, and an independent audit of the trust's investments.Unethical Behavior: The trustees and their legal advisors have engaged in unethical behavior, refusing to disclose critical information and manipulating my financial resources to prevent me from seeking legal recourse.Emotional and Financial Harm: Their actions have caused me significant emotional distress and financial harm. I am currently homeless, broke, and unable to access my funds to cover basic living expenses, or secure legal representation.

North Star Investment Management Corporation is NOT a BBB Accredited Business.

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