Sandlapper Wealth Management, LLC

Discharged

Barred from FINRA.

FINRA

Without admitting or denying the findings, Kim consented to the sanction and to the entry of findings that he made unsuitable recommendations to numerous senior customers, who were retiring or had retired that they concentrate their retirement assets and liquid net worth in speculative and illiquid securities. The findings stated that many of the customers had little or no investment experience other than their 401(k) and pension plans and had never purchased the alternative investments recommended by Kim. Kim's recommendations were unsuitable for these customers because the speculative and illiquid nature of these investments were inconsistent with the customers' moderate or conservative investment objectives and risk tolerances. In addition, Kim's recommendations resulted in an undue concentration of the customers' retirement assets and liquid net worth in speculative and illiquid investments. Kim failed to disclose to his customers the risks associated with these products, including that the securities were speculative and illiquid. As a result of these recommendation, Kim's customers suffered substantial losses. The findings also stated that in order to circumvent the member firm's procedures, Kim entered inaccurate and inflated net worth, liquid net worth and investment experience figures for certain customers on their new account forms and other documents so that they appeared eligible to purchase certain speculative investments. The firm's procedures limited the amount of a customer's net worth that could be concentrated in alternative investments.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All capacities

Indefinite

6/26/2018

WRONGFUL CONDUCT; BREACH OF FIDUCIARY DUTY; BREACH OF STATEMENT OF CLAIM ALLEGED WRONGFUL CONDUCT, BREACH OF FIDUCIARY DUTY, BREACH OF WRITTEN CONTRACT; VIOLATION OF STATE & FEDERAL SECURITIES LAWS IN CONNECTION WITH INVESTMENTS PURCHASED FROM 2010-2013.

$200,000.00

$60,000.00

STATEMENT OF CLAIM ALLEGED BREACH OF FIDUCIARY DUTY, BREACH OF WRITTEN CONTRACT, BREACH OF ORAL CONTRACT, FINANCIAL ABUSE, VIOLATIONS OF STATE AND FEDERAL SECURITIES LAWS IN CONNECTION WITH INVESTMENTS PURCHASED FROM 2006-2014.

$300,000.00

$60,000.00

BREACH OF FIDUCIARY DUTY, UNSUITABLE INVESTMENTS, BREACH OF CONTRACT, VIOLATIONS STATE AND FED SECURITIES LAWS WITH RESPECT TO DPPS, STRUCTURED PRODUCTS, MUTUAL FUND INVESTMENTS MADE FROM 2001-2014.

$150,000.00

$20,000.00

WRONGFUL CONDUCT, BREACH OF FIDUCIARY DUTY, BREACH OF ORAL & WRITTEN CONTRACT, VIOLATION OF STATE & FEDERAL SECURITIES LAWS, VIOLATION OF FINRA RULES OF FAIR PRACTICE AND NYSE RULES IN CONNECTION WITH DPPS, THIRD PARTY INVESTMENTS, STRUCTURED PRODUCTS AND MUTUAL FUNDS PURCHASED FROM 2008-2015.

$300,000.00

$42,500.00

WRONGFUL CONDUCT; BREACH OF FIDUCIARY DUTY; BREACH OR ORAL/WRITTEN CONTRACT; VIOLATION OF STATE & FEDERAL SECURITIES LAWS; VIOLATION OF FINRA RULES OF FAIR PRACTICE & NYSE RULES IN CONNECTION WITH INVESTMENTS PURCHASED FROM 2008-2015.

$150,000.00

$50,000.00

BREACH OF FIDUCIARY DUTY, UNSUITABLE INVESTMENTS, BREACH OF CONTRACT, VIOL STATE AND FED SECURITIES LAWS IN CONNECTION WITH DPPS, STRUCTURED PRODUCTS AND MUTUALS FUNDS PURCHASED FROM 2010 TO 2014.

$550,000.00

$175,000.00

BREACH OF FIDUCIARY DUTY, UNSUITABLE INVESTMENTS, BREACH OF CONTRACT, VIOL STATE AND FED SECURITIES LAWS IN CONNECTION WITH DDDPS, STRUCTURED PRODUCTS AND MUTUAL FUNDS.

$280,000.00

$65,700.00

WRONGFUL CONDUCT, BREACH OF FIDUCIARY DUTY, BREACH OF ORAL CONTRACT, BREACH OF WRITTEN CONTRACT,

$1,000,000.00

BREACH OF FIDUCIARY DUTY, UNSUITABLE INVESTMENTS, BREACH OF CONTRACT, VIOL STATE AND FED SECURITIES LAWS

$350,000.00

$27,500.00

THE REPRESENTATIVE NOR THE FIRM CAN CONFIRM ANY OF THE INFORMATION CONTAINED HEREIN AS NEITHER THE REP NOR THE FIRM HAS RECEIVED ANY DOCUMENTATION PERTAINING TO THIS ARBITRATION

CLAIM ALLEGED BREACH OF FIDUCIARY DUTY, BREACH OF WRITTEN CONTRACT, BREACH OF ORAL CONTRACT, VIOLATIONS OF STATE AND FEDERAL SECURITIES LAWS IN CONNECTION WITH DIRECT INVESTMENTS, C SHARE MUTUAL FUNDS, STRUCTURED NOTES AND ANNUITIES PURCHASED FROM 2008-2011.

$220,000.00

$185,000.00

THE FIRM NOR THE REP CAN CONFIRM THE ACCURACY OF THE INFORMATION REPORTED IN THIS FILING BECAUSE WE ARE NOT IN POSSESSON OF THE STATEMENT OF CLAIM.

CLAIMANTS ALLEGED WRONGFUL CONDUCT, BREACH OF FIDUCIARY DUTY, BREACH OF WRITTEN CONTRACT, BREACH OF ORAL CONTRACT, IN CONNECTIONS WITH INVESTMENTS PURCHASED FROM 2008-2013.

$450,000.00

$245,000.00

THE FIRM NOR THE REP CAN CINFIRM THE ACCURACY OF THE INFORMATION REPORTED IN THIS FILING BECAUSE WE ARE NOT IN POSSESSION OF THE STATEMENT OF CLAIM, DESPITE NUERMOUS ATTEMPTS TO SECURE A COPY.

BREACH OF FIDUCIARY DUTY; BREACH OF WRITTEN CONTRACT; BREACH OF ORAL CONTRACT; VIOLATION OF STATE AND FEDERAL SECURITIES LAWS IN CONNECTIONS WITH INVESTMENTS PURCHASED IN 2009-2012.

$450,000.00

$115,000.00

THE FIRM NOR THE REP CAN CONFIRM THE ACCURACY OF THE INFORMATION REPORTED IN THIS FILING BECAUSE WE ARE NOT IN POSSESSON OF THE STATEMENT OF CLAIM, DESPITE NUMEROUS ATTEMPTS TO SECURE A COPY.

Negligence; Suitability; Negligent Misrepresentation; Fraud; Financial Elder Abuse

$500,000.00

$1,345,000.00

WITHOUT ADMITTING OR DENYING THE ALLEGATIONS OR WRONG DOING, THE PARTIES SETTLED THE MATTER TO AVOID FURTHER TIME AND COSTS ASSOCIATED WITH THIS MATTER.

CLAIM ALLEGED UNSUITABLE INVESTMENTS, BREACH OF FIDUCIARY DUTY, MISREPRESENTATION AND OMISSIONS IN CONNECTION WITH INVESTMENTS PURCHASED FROM 2012-2014.

$100,000.00

$90,000.00

NEGLIGENCE; SUNSUITABILITY; MISREPRESENTATION & OMMISSION; STATEMENT OF CLAIM ALLEGED FRAUD; VIOL OF CA SEC LAWS; BREACH OF FINRA RULES; BREACH OF CONTRACT; LOSS OF INVESTMENT PROPERTY IN CONNECTION WITH DPP/REIT INVESTMENTS PURCHASED IN 2008-2009.

$500,000.00

$80,443.00

UNSUITABLE INVESTMENTS AND MISREPRESENTATIONS IN CONNECTION WITH DPP/REITS, VARIABLE ANNUITY, MUTUAL FUNDS AND STRUCTURED NOTE INVESTMENTS PURCHASED IN 2007-2008.

$1,800,000.00

$690,000.00

REGISTERED REPRESENTATIVE DENIES ANY AND ALL ALLEGATIONS OF WRONGDOING HOWEVER THE PARTIES INVOLVED RESOLVED THE DISPUTE TO AVOID FURTHER EXPENSES AND INCONVENIENCE.

UNSUITABLE INVESTMENTS, POOR SERVICE

This item does not meet the reporting requirements of 14I(3)(a) and should be removed from Broker Check, nor does a rescission of investment with $0.00 meet any of the reporting requirements under 14I(2)(b) regarding settlements and is an unfair public report on the registered representative.

UNSUITABLE AND MISREPRESENTED TRANSACTIONS IN DPPS PURCHASED 2007.

$175,000.00

$67,500.00

RECOMMENDATIONS WERE SUITABLE IN CONSIDERATION OF THE CLIENT'S INVESTMENT OBJECTIVES. FIRM AND REGISTRANT DENY ALL ALLEGATIONS AND WILL DEFEND THE TRANSACTIONS. WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, THE PARTIES SETTLED THE MATTER TO AVOID FURTHER TIME AND COSTS. REGISTRANT DID NOT CONTRIBUTE TO SETTLEMENT.

COMPLAINT LETTER ALLEGED INAPPROPRIATE INVESTMENTS, UNSUITABLE RECOMMENDATION AND MISREPRESENTATION RELATED TO INVESTMENTS MADE IN 2008-2011. CLIENT IS SEEKING DAMAGES FOR MARKET LOSSES.

$117,075.04

$35,000.00

IN ORDER TO AVOID FURTHER COSTS ASSOCIATED WITH THIS MATTER, WITHOUT ADMITTING OR DENYING THE ALLEGATIONS SET FORTH IN THE CLAIM, THE PARTIES SETTLED THE MATTER. REGISTRANT DI NOT CONTRIBUTE TO SETTLEMENT.

CLAIM ALLEGED: (1) VIOLATIONS OF STATE AND FEDERAL SECURITIES LAWS (2) NEGLIGENCE (3) UNSUITABLE INVESTMENT (4)BREACH OF FIDUCIARY DUTY IN CONNECTION WITH A DPP INVESTMENT PURCHASED IN 2008.

$72,500.00

$30,000.00

RECOMMENDATIONS WERE SUITABLE IN CONSIDERATION OF THE CLIENT'S INVESTMENT OBJECTIVES, TAX SITUATION AND EXPERIENCE SELLING REAL ESTATE AS AN AGENT AND INVESTING IN REAL ESTATE. FIRM AND REGISTRANT DENY ALL ALLEGATIONS AND WILL DEFEND THE TRANSACTION. WITHOUT ADMITTING OR DENYING THE ALLEGATIONS SET FORTH IN THE CLAIM, THIS MATTER WAS RESOLVED BY IFG. REGISTERED REPRESENTATIVE DID NOT CONTRIBUTE TO THE SETTLEMENT WHICH WAS ENTERED INTO BY THE FIRM IN ORDER TO AVOID THE COSTS ASSOCIATED WITH ARBITRATING THE MATTER.

ALLEGATIONS INCLUDED UNSUITABLE RECOMMENDATION, MISREPRESENTATION, RISK, MATERIAL OMMISSIONS, BREACH OF FIDUCIARY DUTY IN CONNECTION WITH

$60,000.00

$22,500.00

WITHOUT ADMITTING OR DENYING THE ALLEGATIONS IN THE COMPLAINT, THE PARTIES SETTLED THE MATTER IN ORDER TO AVOID FURTHER COSTS AND TIME SPENT. REGISTRANT DID NOT CONTRIBUTE TO SETTLEMENT.

MISREPRESENTATION, UNSUITABILITY OF DIRECT INVESTMENT- DPP PROGRAM PURCHASED IN 2008.

$72,500.00

COMPLAINANT ALLEGES IN OCTOBER 1999 REPRESENTATIVE FORGED SIGNATURES ON SPECIFIC DOCUMENTS RESULTING IN THE TRANSFER OF POLICIES.

$150,000.00

$100,000.00

MATTER WAS SETTLED FOR $100,000 ON 12/5/07, REGISTRANT DID NOT CONTRIBUTE TO THE DAMAGES.