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CLIENT STATES SHE AUTHORIZED SYKORA TO PURCHASE MUTUAL FUNDS IN HER ACCOUNT
AND WAS SURPRISED WHEN STOCKS (IN ADDITIONAL TO MUTUAL FUNDS) WERE PURCHASED.
CLIENT FURTHER STATES WHEN SHE QUESTIONED SYKORA REGARDING THE STOCK
PURCHASES SHE WAS INFORMED SHE NEEDED DIVERSIFICATION. CLIENT STATES SYKORA
MADE INVESTMENTS IN UNSUITABLE STOCKS AND ALSO MAKES ALLEGATIONS OF CHURNING.
Damage Amount Requested
$5,000.00
Broker Comment
ACCORDING TO SYKORA, HE MET WITH THE CLIENT PRIOR TO THE ROLLOVER OF HER 401K PLAN AT WHICH TIME HE PROVIDED HER WITH A PROPOSED PORTFOLIO ANALYSIS WHICH INCLUDED THE MUTUAL FUND WHICH WERE ALREADY HELD IN THE ACCOUNT AS WELL AS THE PROPSED MUTUAL FUNDS AND STOCKS. SYKORA HAS INDICATED HE PROVIDED THE EDWARD JONES OPINION FOR THE STOCKS HE WAS SUGGESTING AN DISCUSSED THE COMMISSIONS AND/OR SALES CHARGES ASSOCIATED WITH THE TRANSACTIONS. ACCORDING TO OUR RECORDS, THE STOCKS WERE PURCHASED IN APRIL, 2000. AT THE TIME OF THE TRANSACTIONS, THE CLIENT WOULD HAVE RECEIVED TRADE CONFIRMATION AS WELL AS THE APPROPRIATE MUTUAL FUND PROSPECTUSES. IN ADDITION, SHE HAS RECEIVED CUSTOMER STATEMENTS. IT IS OUR OPINION THE TRANSACTIONS WERE AUTHORIZED. THE INVESTMENTS PURCHASED IN THE ACCOUNT APPEAR TO BE IN LINE WITH THE STATED INVESTMENT OBJECTIVES. FURTHERMORE, WE FIND NO EVIDENCE OF CHURNING. CLIAM DENIED.
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IA
Investment Adviser
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Disclosures
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.
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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.