CLIENTS CLAIM THE IR RECOMMENDED THEY INVEST FUNDS IN ANNUITIES WHICH WERE "INAPPROPRIATE INVESTMENTS" (IN 2000). CLIENT CLAIM THEY RECENTLY READ AN ARTICLE WHICH INDICATES ANNUITIES ARE NOT SUITABLE INVESTMENTS FOR IRA ACCOUNTS. IN ADDITION, CLIENTS STATE THE IR INFORMED THEM THEY WOULD DOUBLE OR TRIPLE THEIR MONEY AND DID NOT PROPERLY INFORM THEM OF THE COMMISSIONS OR THE EXPENSES ASSOCIATED WITH THE INVESTMENTS. CLIENT IS REQUESTING A LIQUIDATON OF THE ANNUITIES WITH NO CONTINGENT DEFERRED SALES CHARGE APPLIED (APPROXIMATELY $5,418.00).

$5,000.00

ACCORDING TO OUR RECORDS, THE ANNUITIES IN QUESTION WERE PURCHASED IN AUGUST 2000. ALTHOUGH THE IR HAS INDICATED HE DOES NOT RECALL SPECIFICS OF HIS CONVERSATIONS AT THE TIME OF PURCHASE, HE IS CONFIDENT HE DID NOT INFORM THE CLIENT THAT THE FUNDS WOULD DOUBLE IN TWO YEARS. AT THE TIME OF THE PURCHASES, THE CLIENT RECEIVED THE APPROPRIATE PROSPECTUSES. A PROSPECTUS PROVIDES SPECIFIC INFORMATION RELATED TO THE ANNUITIES TO INCLUDE THE EXPENSES AS WELL AS SALES CHARGES. SINCE THE PURCHASES, THE CLIENT HAS RECEIVED STATEMENTS FROM EDWARD JONES AS WELL AS THE ANNUITY COMPANY(IES). THESE STATEMENTS PROVIDE INFORMATION REGARDING THE ANNUITIES INCLUDING THE APPROXIMATE VALUES AS WELL AS SUB-ACCOUNT ALLOCATIONS. BASED ON OUR REVIEW, IT DOES NOT APPEAR THE INVESTMENTS ARE OUTSIDE THE SCOPE OF THE OBJECTIVES OF THE ACCOUNT. FURTHERMORE, IT IS OUR OPINION, ALL OF THE TRANSACTIONS WERE COMPLETED WITH THE CLIENT'S KNOWLEDGE AND AUTHORIZATION. THEREFORE, WE ARE RESPECTFULLY DENYING THE CLIENT'S REQUEST FOR A WAIVER AND/OR REIMBURSEMENT OF THE CONTINGENT DEFERRED SALES CHARGES ASSOCIATED WITH THE LIQUIDATION OF THE ANNUITIES. CLAIM DENIED.