Rhode Island client complains that the fees associated with their accounts were not fully disclosed and were higher than stated between 2009 and 2020. Clients further complain that investments made in a hedge fund and an annuity were not suitable.

$10,000,000.00

$100,000.00

This matter was settled in the interest of client relations and to avoid potentially lengthy and costly litigation. RR Comment: The client has alleged that certain investments were not suitable and associated expenses were not disclosed. The Financial Advisor maintains that the particulars of the investments were discussed at length, approved and reviewed by the board on many occasions. A settlement was reached for 1% of the claim to avoid a lengthy and costly litigation process. The client still maintains a relationship with the firm today.

CUSTOMER CLAIMS UNSUITABLE AND UNAUTHORIZED TRADING OCCURED BETWEEN 1998 AND 2002 AT PREDECESSOR FIRM TUCKER ANTHONY.

RBC DAIN RAUSCHER

Permitted to Resign

POSSIBLE VIOLATION OF FIRM POLICIES WITH RESPECT TO REPORTING ACTIVITY OUTSIDE THE FIRM