OBSI today announced the refusal of Sentinel Financial Management Corp. (Sentinel Financial) to compensate an investor $128,799 for losses caused by an advisor working for Sentinel recommending unsuitable investments.
“Sentinel Financial is responsible for the financial harm caused by one of its advisors,” said Ombudsman Sarah Bradley. “It’s rare for any firm to refuse our recommendation to compensate an investor when warranted. But this marks the fourth time Sentinel has refused an OBSI recommendation in the past two years. To date, Sentinel has refused to pay almost $450,000 in compensation to investors.”