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CUSTOMER ALLEGES THAT MR. MCBRIDE RECOMMENDED INVESTMENTS THAT WERE NOT SUITABLE FOR HER AGE AND HER NEEDS.
Damage Amount Requested
$15,000.00
Broker Comment
THE ACCOUNT WAS INVESTED IN ACCORDANCE WITH THE CUSTOMER'S OBJECTIVE OF INCOME. THE CLIENT WANTED AND AGREED TO ASSUME ADDITIONAL RISK FOR INCREASED INCOME. CLIENT RECEIVED SUBSTANTIAL INCOME FROM THE MUTUAL FUNDS DURING THIS TIME PERIOD. INCLUDING THIS INCOME WITH THE MUTUAL FUND PROCEEDS, THE CLIENT INCURRED A NET GAIN NOT A LOSS FROM THE SALE.
MERRILL LYNCH HAS DENIED THIS CLAIM AND HAS HEARD NOTHING FURTHER FROM THE CUSTOMER ANS IS THEREFORE CLOSING ITS FILE.
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.