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CLIENT'S ATTORNEY ALLEGES THEY WERE MISLED INTO PURCHASING AN ANNUITY IN AUGUST 2004. THE ATTORNEY FURTHER ALLEGES THE CLIENTS WERE TREATED UNFAIRLY AND HAVE BEEN TAKEN ADVANTAGE OF FINANCIALLY.
Damage Amount Requested
$8,321.26
Broker Comment
THE CUSTOMER NAMED THE BROKER ON THE COMPLAINT ALTHOUGH HIS ASSOCIATE CONDUCTED THE BUSINESS. ALL DOCUMENTS APPEARS TO BE IN GOOD ORDER; TRADE APPEARS SUITABLE; FULL AND FAIR DISCLOSURE APPEARS TO HAVE BEEN MADE.
10/13/2004
Customer Dispute
Denied
Allegations
CLIENT'S DAUGHTER ALLEGES VARIABLE ANNUITY TRANSACTIONS ARE UNSUITABLE AND THAT THE REGISTERED REPRESENTATIVE HAS CHURNED THE ACCOUNT CAUSING SURRENDER PENALTIES. FURTHER, THE REGISTERED REPRESENTATIVE FAILED TO PROVIDE APPLICABLE BREAKPOINT OPPORTUNITIES.
Damage Amount Requested
$250,000.00
Broker Comment
ALL DOCUMENTS APPEARS TO BE IN GOOD ORDER. TRANSACTIONS APPEAR TO BE SUITABLE. THE INVESTIGATION DID NOT SUPPORT THE ALLEGATION OF CHURNING NOR THAT ANY BREAKPOINTS WERE MISSED.
11/18/2002
Customer Dispute
Denied
Allegations
CLIENT ALLEGES THE AUGUST 2000 PURCHASE OF A VARIABLE ANNUITY HAS EXPERIENCED LOSSES DUE TO IMPROPER ALLOCATION
Damage Amount Requested
$51,306.92
Broker Comment
BASED ON OUR INVESTIGATION, ALL DOCUMENTS APPEAR TO BE IN GOOD ORDER; FULL AND FAIR DISCLOSURE APPEAR TO HAVE BEEN MADE.
4/29/2002
Customer Dispute
Denied
Allegations
MISREPRESENTATION OF FUND
Damage Amount Requested
$13,788.00
Broker Comment
CUSTOMERS WHERE FULLY DISCLOSED ON ALL A, B & C SHARE OPTIONS WHEN PURCHASING MUTUAL FUNDS. THEY DON'T REMEMBER THE BACK END DISCLSOURE.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.