Client alleged financial advisor told her the investment would provide stability during the ups and downs of the market, but she has lost money with the recent market down turn. (10/1/2018-10/29/2018)

Client was provided many investment options to align to her stated investment objective, including but not limited to mutual funds, insurance, a managed portfolio and laddered CD's. The client elected a mutual fund understanding the fund would provide income, but the value would fluctuate with the market. After receiving an inheritance, a recommendation to diversify was presented to the client, but the client elected to make an additional purchase to the same mutual fund. The lack of diversification and short term market volatility resulted in the client formalizing a complaint regarding the decline in value.

CUSTOMER ALLEGED THAT RECOMMENDATION OF A VARIABLE ANNUITY ON 6/26/2000 WAS UNSUITABLE BASED UPON HER AGE. REQUESTED "...RESITUTION OR PARTIAL RECOVERY OF LOSSES...". LETTER RECEIVED 10/13/03 ALLEGED REQUESTS FOR FULL SURRENDER AND 2 LATER REQUESTS FOR REALLOCATION TO MORE CONVSERVATIVE PORTFOLIO WERE DENIED.

$19,929.00

INVESTIGATION REVEALED RECOMMENDATION CONSISTENT WITH CUSTOMER'S STATED OBJECTIVES. AFTER 30 DAY FREE-LOOK PERIOD EXPIRED CUSTOMER CAME IN TO DISCUSS HER SON'S DISSATISFACTION THAT SHE HAD MADE INVESTMENT AND THE POSSIBILITY OF A PARTIAL SURRENDER. CUSTOMER DECIDED SHE DID NOT WANT TO PAY SURRENDER CHARGES. 2ND REQUEST FOR ASSISTANCE ON PORTFOLIO MADE DURING THE 6 MONTH DCA OPTION THAT CUSTOMER ELECTED AND SIGNED WHICH SPECIFIED NO REALLOCATION ALLOWED DURING DCA PERIOD.

CHARGED 1-484 PC-PETTY THEFT.

MISDEMEANOR

THE CHARGE WAS DISMISSED ON 10/15/1980 WHEN I AGREED TO ATTEND THE REQUIRED COURT APPOINTED COUNSELING. COUNSELING APPOINTED BY THE COURT, WHICH I DID.