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ON 10/1/98 THE CLIENT PURCASED $80,000 15 YEAR LASALLE DEPOSIT NOTE. THE CLIENT STATES UBELHOR INVESTED AGAINST
HER WISHES AND DID NOT DISCUSS THE 15 YEAR MATURITY ON THE NOTE. THE CLIENT STATES SHE INSTRUCTED UBELHOR TO
INVEST IN PRODUCT WHERE HER PRINCIPLE WOULD STAY THE SAME. THE NOTE WAS TRANSFERRED OUT OF EDJ ON 9/6/00.
Damage Amount Requested
$5,000.00
Broker Comment
UBELHOR STATES THE CLIENT EXPRESSED AN NEED FOR STEADY INCOME. HE STATES HE THOROUGHLY EXPLAINED THE MARKET
VALUE MAY FLUCTUATE, THE NOTE COULD BE SOLD ON ANY BUSINESS DAY, THE CALL DATE AND MATURITY DATE.
UBELHOR FURTHER STATES HE USED VISUAL AIDS TO ASSIST THE CLIENT IN UNDERSTANDING THESE CONCEPTS.
THE CLIENT RECEIVED A TRADE CONFIRMATION, A DISCLOSURE DOCUMENT AND MONTHLY CUSTOMER STATEMENTS
WHICH PROVIDE INFORMATION REGARDING THE INVESTMENT. CLAIM DENIED.
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IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
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.