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Allegation regarding whether employee took credit for appointments that didn't fit the criteria and noted in firm's internal system that he communicated with a client when he didn't, in order to get performance credit. No customer complaint.
Broker Comment
REGARDING THE 3-21-19 ALLEGATION: THIS IS A NON CLIENT OR FINANCIAL EVENT. THERE IS NO FINANCIAL GAIN OR LOSS TO CLIENTS, FIDELITY OR ME.
3/21/2019
Employment Separation After Allegations
Firm Name
FIDELITY PERSONAL AND WORKPLACE ADVISORS
Termination Type
Permitted to Resign
Allegations
Allegation regarding whether employee took credit for appointments that didn't fit the criteria and noted in firm's internal system that he communicated with a client when he didn't, in order to get performance credit. No customer complaint.
Broker Comment
REGARDING THE 3-21-19 ALLEGATION: THIS IS A NON CLIENT OR FINANCIAL EVENT. THERE IS NO FINANCIAL GAIN OR LOSS TO CLIENTS, FIDELITY OR ME.
12/21/2010
Customer Dispute
Denied
Allegations
CUSTOMER ALLEGES THAT THE REGISTERED REPRESENTATIVE MADE UNSUITABLE MUTUAL FUND RECOMMENDATIONS.
Damage Amount Requested
$10,434.00
Broker Comment
REGARDING THE 12-21-2010 DISPUTE IN MY RECORD; THIS DISPUTE WAS WITHOUT MERIT AND DISMISSED. AS A FINRA POLICY, IF A REGISTERED REPRESENTATIVE IS NAMED IN A DISPUTE, THE DISPUTE MUST BE LISTED ON THE REPRESENTATIVE'S U4.
1/20/2010
Customer Dispute
Settled
Allegations
THE CUSTOMER ALLEGES THAT IN 2007 THE REGISTERED REPRESENTATIVE RECOMMENDED UNSUITABLE INVESTMENTS IN A MANAGED ACCOUNT.
Damage Amount Requested
$750,000.00
Settlement Amount
$175,000.00
Broker Comment
REGARDING THE 1-20-2010 CUSTOMER DISPUTE; THE CLIENT WAS INVESTED IN FIDELITY INVESTMENTS FIDUCIARY, DISCRETIONARY SERVICE. THIS A FEE FOR SERVICE MODEL. MY ROLE, AS AN ACCOUNT EXECUTIVE, I HAD NO DISCRETION OR INVESTMENT STRATEGY INPUT. THUS, THE CLIENT WAS INVESTED IN A SOLUTION BEYOND THE SCOPE OF MY ROLE. AS A FINRA POLICY, IF A REGISTERED REPRESENTATIVE IS NAMED IN A DISPUTE, THE DISPUTE MUST BE LISTED ON THE REPRESENTATIVE'S U4.
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.