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The client alleges that the financial advisor provided poor advice regarding the sale of Facebook and purchase of Amazon.
Damage Amount Requested
$6,300.00
Broker Comment
After completion of the firm's investigation into the client's allegations, the claim was denied.
3/21/2017
Customer Dispute
Denied
Allegations
Client alleges the financial advisor provided poor advice in August of 2014 regarding the death benefit option on the Allianz MasterDex 10 Plus annuity which created tax consequences for a five year period.
Damage Amount Requested
$54,000.00
Broker Comment
After completion of the firm's investigation into client's allegations, claim was denied.
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.