The client alleges the FA did not tell him he would have a withdrawal penalty when he moved his 403b account to Jones.

$17,143.00

$17,143.00

After completion of the firm's investigation, client's claim was resolved in the amount of $17,143.00. Financial advisor was not required to contribute to the resolution.

11/26/07-12/1/08; THE CLIENT ALLEGED THAT SHE WAS ADVISED THAT THE FRANKLIN INSURED TAX FREE FUND WAS JUST AS SECURE AS A CD. THE CLIENT STATED THAT SHE PURCHASED $85,000.00 OF THIS FUND AND SAW THE VALUE DECLINE BY OVER $9,000.00. SHE ALSO ALLEGED THAT THE FA DID NOT DISCLOSE THE COMMISSIONS ASSOCIATED WITH THE PURCHASE OF HER APPLE STOCK.

$5,000.00

THE FA ADVISED THAT HE PROPERLY DISCLOSED THE FEES/COMMISSIONS ASSOCIATED WITH THE PURCHASE OF THIS MUTUAL FUND BY USING THE PROSPECTUS AND THE ICA BAR CHART. HE ADVISED THAT WHEN HE USES THE BAR CHART, HE ALWAYS USES THAT LAST THREE TO FOUR YEARS, WHICH SHOW MARKET FLUCTUATION. THE FA ADVISED THAT HE DISCUSSED MARKET FLUCTUATION AND FEES WITH THE CLIENT ON SEVERAL OCCASIONS BEFORE THE PURCHASE WAS MADE. THE FA STATED THAT HE NEVER GUARANTEED THE INVESTMENT. THE FA ALSO STATED THAT HE DID NOT ENCOURAGE THE CLIENT'S PURCHASE OF THE APPLE STOCK, SINCE HE FELT THAT IT WAS TOO AGGRESSIVE.