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THE CLIENT ALLEGED HIS WIFE LIGUIDATED ASSETS FROM THEIR JOINT ACCOUNT PRIOR TO NOVEMBER 24,2008 WHEN SHE FILED FOR DIVORCE. THE CLIENT CLAIMED HIS WIFE DID THIS WITH THE ASSISTANCE OF THE ADVISOR AND CLAIMED THE ADVISOR KNEW THE PURPOSE OF HER ACTIONS.
Damage Amount Requested
$110,000.00
Broker Comment
THE FIRM WAS UNABLE TO SUBSTANTIATE THAT ANY LIQUIDATIONS WERE PROCESSED IN THE AMOUNT IN QUESTION. IN ADDITION, THE FIRM FOUND ALL DISTRIBUTIONS FROM THE JOINT ACCOUNT WERE MADE BY BOTH THE CUSTOMER AND HIS SPOUSE. THEREFOREM NO SETTLEMENT WAS OFFERED TO THE CUSTOMER.
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.