CLAIMANT, A RESIDENT OF FLORIDA, ALLEGES UNSUITABLE RECOMMENDATIONS WERE MADE TO HIM TO PURCHASE EQUITY AND BOND BASED MUTUAL FUNDS IN 1989. CLAIMANT SEEKS COMPENSATORY DAMAGES OF $98,342.

$98,342.00

$17,500.00

WACHOVIA MADE A BUSINESS DECISION TO RESOLVE THE MATTER FOR $17,500.00. EVEN THOUGH THIS COMPLAINT WAS SETTLED BY WELLS FARGO/WACHOVIA, I STRONGLY BELIEVE THE CLAIMS WERE WITHOUT MERIT AND I DENY THE ALLEGATIONS. THIS SETTLEMENT DOES NOT REFLECT ANY ACKNOWLEDGEMENT OR ADMISSION OF ANY LIABILITY OR MISCONDUCT ON MY PART WHATSOEVER. FURTHERMORE, I WAS NOT EVEN THE FA OF RECORD OR EVEN EMPLOYED BY WACHOVIA IN 1989 WHEN THE ALLEGED UNSUITABLE INVESTMENTS WERE PURCHASED. I MET THE CLIENT SOMETIME AFTER 2000 AND HAD NUMEROUS DETAILED CONVERSATIONS REGARDING THESE SPECIFIC INVESTMENTS. THE CASE WAS SETTLED BY WELLS FARGO TO AVOID THE POTENTIAL COST AND UNCERTAINTIES OF THE ARBITRATION FORUM. MOST IMPORTANT, I WAS NOT ASK TO CONTRIBUTE PERSONALLY TO THE SETTLEMENT OF THIS CASE.

FLORIDA RESIDENTS WRITE THAT HE ASKED FINANCIAL ADVISOR TO SELL HIS "AUCTION ISSUE" HOLDINGS, BUT DID NOT WANT TO TAKE ANY LOSSES, HE WRITES THAT FA DID NOT SELL THE SECURITIES. (04/12/2005). **ARBITRATION ALLEGATIONS: CLAIMANTS, RESIDENTS OF FLORIDA, ALLEGE FA MADE UNSUITABLE RECOMMENDATIONS OF BONDS AND MUTUAL FUNDS IN THEIR ACCOUNTS BEGINNING IN 2003. CLAIMANTS SEEK COMPENSATORY DAMAGES OF $200,000.

$200,000.00

$14,750.00

THE ALLEGATION MADE BY THE CLIENT IS WITHOUT MERIT. WHILE I SERVICED HIS ACCOUNT, THE CLIENT NEVER OWNED OR PURCHASED ANY AUCTION RATE SECURITIES IN HIS PORTFOLIO. THE CLIENT DID ASK FOR BIDS ON SOME OF HIS BONDS, WHICH I GAVE HIM THE PRICE THE SAME DAY. THE CLIENT INSTRUCTED ME NOT TO SELL THE BONDS AS THEY WERE SELLING AT A LOWER PRICE THAN HE PAID AND HE DID NOT WANT TO TAKE THE LOSS. THROUGHOUT OUR RELATIONSHIP, I HAD DOZENS OF PHONE CONVERSATIONS WITH HIM AND NEVER DID HE INSTRUCT ME TO SELL THE BONDS. WHILE I'M SYMPATHETIC TO THE CLIENTS SITUATION, I CANNOT CONTROL MARKET CONDITIONS AND VOLATILITY ON INVESTMENT THAT WERE PURCHASED OVER THREE YEARS AGO. FURTHERMORE, HIS INVESTMENT OBJECTIVE ON HIS ACCOUNT AND RISK TOLERANCE MATCHED HIS CURRENT HOLDINGS IN HIS PORTFOLIO.

FLORIDA STATE RESIDENT VERBALLY STATED HE BELIEVED HIS FA PURCHASED THREE TRUST PREFERREDS AND TWO CLOSED-END FUNDS STARTING IN 03/07 AND ENDING IN 06/07 THAT HE DID NOT AUTHORIZE. CUSTOMER STATED HIS UNREALIZED LOSSED ARE BELIEVED TO BE APPROXIMATELY $27,300.

$27,310.24

$23,650.00

VERBAL COMPLAINT THAT IN THE INTEREST OF CLIENT RELATIONS AND TO AVOID LITIGATION, AND WITHOUT ADMITTING LIABILITY, THE FIRM ELECTED TO SETTLE THIS MATTER. MR. FETTERMAN VEHEMENTLY DENIES ANY ALLEGATIONS BY CLIENT REGARDING UNAUTHORIZED TRADES IN CLIENT'S ACCOUNT. MR. FETTERMAN HAD DETAILED CONVERSATIONS WITH CLIENT CONCERNING THE THREE PREFERRED STOCKS, TWO CLOSED-END FUNDS AND OTHER INVESTMENTS THAT HE AGREED TO PURCHASE. IN FACT, CLIENT RECEIVED CONFIRMATION STATEMENTS AND MONTHLY ACCOUNT STATEMENTS REFLECTING EACH AND EVERY TRADE IN HIS ACCOUNT. COINCIDENTALLY, CLIENT ONLY ALLEGED THAT THE TRANSACTIONS WERE "UNAUTHORIZED" AFTER THE INVESTMENTS LOST VALUE AND MONTHS AFTER THE PURPORTED "UNAUTHORIZED" TRADES WERE MADE. IN ADDITION, MR. FETTERMAN IS CONFIDENT THAT CLIENT VIEWS HIS WACHOVIA ACCOUNT ONLINE, AND AS WELL AWARE OF THE TRANSACTIONS. MR. FETTERMAN WAS NOT CONSULTED AND DID NOT CONSENT TO THE SETTLEMENT WITH CLIENT. ACCORDINGLY, MR. FETTERMAN IS NOT CONTRIBUTING ANY MONIES TO WACHOVIA'S SETTLEMENT WITH CLIENT, AS HE BELIEVES THE CLAIM IS FRIVOLOUS.