When communicating online or investing with any professional, make sure you know who you’re dealing with. Imposters might link to sites like BrokerCheck from phishing or similar scam websites, or through social media , trying to steal your personal information or your money. Please contact FINRA with any concerns.
CLIENT STATES HE WANTS THE FIRM TO TAKE ALL OF HIS 30 YEAR BONDS BACK BECAUSE HE WANTED SHORT TERM TO BEGIN WITH. CLIENTS STATE THEY NEVER PURCHASED BONDS BEFORE AND DID NOT UNDERSTAND THE RISK. POTENTIAL LOSSES EXCEED $5000.
Damage Amount Requested
$5,000.00
Broker Comment
FA HAS INDICATED THAT, UPON RECEIVING THE CLIENT'S INITIAL E-MAIL, HE MET WITH BOTH CLIENTS TO DISCUSS THEIR CONCERNS. FA HAS STATED HE REMINDED THE CLIENTS THE REASONS FOR BUYING FIXED INCOME PRODUCTS WITH LADDERED MATURITIES WAS TO REDUCE THEIR RISK WHILE PROVIDING PREDICTABLE INCOME. FA HAS STATED THE CLIENTS ARE NOT HAPPY WITH THE DECREASED VALUE OF THE BONDS, BUT HAVE DECIDED TO KEEP THE PORTFOLIO. BASED ON THIS, IT APPEARS THE FA HAS ADDRESSED THE CLIENT'S CONCERNS, THEREFORE WE DO CONSIDER THIS MATTER CLOSED.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
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.