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8/08-10/24/08; THE CLIENT STATES THAT THEY ARE UPSET THAT THE FA IGNORED THEIR EMAIL SENT IN AUGUST ASKING FOR ADVICE. THE CLIENT CLAIMS THAT SINCE THEN THE ACCOUNT IS DOWN 59.4%. THE CLIENT STATES THAT ALL THEY NEEDED WAS A PROFESSIONAL OPINION AS TO WHAT THE MARKET WOULD DO AND THEN THEY COULD HAVE MADE A DECISION. THE CLIENT CLAIMS THAT THE FA HAS NOT PROVIDED ANY GUIDANCE OR ADVICE AS TO HOW TO MANAGE THEIR INVESTMENTS OR MINIMIZE RISK. CLAIMED LOSSES EXCEED $5,000
Damage Amount Requested
$5,000.00
Broker Comment
THE FA STATED THAT IT WAS DISCUSSED WITH THE CLIENT THAT HE NEEDED TO DISCUSS THE ACCOUNT AND ANY POTENTIAL CHANGES EITHER VIA PHONE OR IN PERSON AS THIS COULD NOT BE DONE THROUGH EMAIL. THE FA STATED THAT THE CLIENT DID UNDERSTAND THIS AFTER HIS COMPLAINT HAD BEEN FILED. AFTER RECEIPT OF THE COMPLAINT, THE FA HAS DISCUSSED THE IMPORTANCE OF LONG TERM INVESTING AND THE CLIENT AGREED IT WAS BEST NOT TO MAKE ANY CHANGES AT THIS TIME.
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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.
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.