Alexander Christopher Knott is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 4001 GEIST ROAD SUITE 13, FAIRBANKS, AK, 99709-3017.
Alexander Christopher Knott has worked at EDWARD JONES since January 17, 2000
Disclosure History
Alexander Christopher Knott has 4 Disclosure Event(s).
Date: September 21, 2015 Category: Customer Dispute Allegations: The client alleges the wrong income rider was sold on Lincoln VA purchased October 2014. Damage Amount Requested: $5,000.00 Broker Comment: Based on the firms investigation, the client's complaint was denied. However, Lincoln has agreed to reinstate the rider removed by the client and pay the client for missed distributions.
Date: November 23, 2009 Category: Customer Dispute Allegations: 1/00-12/07; CLIENT BEGAN TAKING 72T DISTRIBUTIONS FROM HIS ACCOUNT IN 2000. CLIENT INDICATES INVESTMENTS HELD IN THE ACCOUNT WERE SOLD IN ORDER TO FUND THE DISTRIBUTIONS UNTIL 2007. HOWEVER, IN 2007, THE CLIENT WAS TOLD THAT HE COULD TRANSFER ASSETS IN KIND IN ORDER TO COMPLETE THE DISTRIBUTION. CLIENT ALLEGES THAT EITHER THROUGH INEXPERIENCE OR NEGLECT HE WAS NOT ADVISED OF THE OPTION TO FUND WITHDRAWALS WITHOUT LIQUIDATING INVESTMENTS. CLIENT INDICATES DISTRIBUTIONS WERE COMPLETED IN 2008 AND 2009 WITHOUT HIS AUTHORIZATION. CLIENT BELIEVES, HAD HE BEEN ADVISED CORRECTLY, HE WOULD NOT HAVE SUSTAINED LOSSES IN THE AMOUNT OF $53,731; THEREFORE, HE IS REQUESTING COMPENSATION IN THE FORM OF A REIMBURSEMENT OF SAID LOSSES. Damage Amount Requested: $5,000.00 Broker Comment: ACCORDING TO OUR RECORDS, THE CLIENT SIGNED A 72(T) SYSTEMATIC WITHDRAWAL FORM (LOA) FOR SELF-DIRECTED IRA ON 03/23/07. THE CLIENT ACKNOWLEDGED AND ACCEPTED THAT DISTRIBUTIONS MADE FROM THE ACCOUNT WOULD BE MADE IN CASH/MONEY MARKET AS NO IN-KIND DISTRIBUTIONS WOULD BE ALLOWED. THE FA HAS INDICATED, PRIOR TO 2007 YEAR-END, HE ATTEMPTED TO CONTACT THE CLIENT ON MORE THAN ONE OCCASION REGARDING THE 2007 DISTRIBUTION, BUT HIS CALLS WERE NOT RETURNED. IT IS UNDERSTOOD THE CLIENT EVENTUALLY CONTACTED THE FA ON OR AROUND DECEMBER 26, 2007. UNFORTUNATELY, THERE WAS NOT SUFFICIENT TIME TO LIQUIDATE ASSETS AND TRANSFER FUNDS IN ORDER TO COMPLETE THE DISTRIBUTION PRIOR TO YEAR-END. THEREFORE, A ONE-TIME EXCEPTION WAS GRANTED AND ARRANGEMENTS WERE MADE TO TRANSFER ASSETS FROM TO THE CLIENT'S SINGLE REGISTRATION ACCOUNT IN ORDER TO COMPLETE THE DISTRIBUTION. THE DISTRIBUTIONS IN 2008 (ON JULY 28, 2008) AND IN 2009 (ON JULY 28, 2009) WERE MADE IN CASH AND INVESTMENTS HELD IN THE ACCOUNT WERE SOLD IN ORDER TO FUND THE DISTRIBUTIONS. THE CLIENT WOULD HAVE RECEIVED CONFIRMATIONS DETAILING THE TRANSACTIONS. IN ADDITION, ALL ACTIVITY HAS BEEN REFLECTED ON ACCOUNT STATEMENTS. BASED ON OUR REVIEW, IT IS OUR OPINION; THE AFOREMENTIONED ACTIVITY WAS COMPLETED WITH THE CLIENT'S KNOWLEDGE AND AUTHORIZATION. FURTHER, THE FA HAS INDICATED HE HAS SPOKEN WITH THE CLIENT ON MULTIPLE OCCASIONS SINCE THE DISTRIBUTIONS WERE MADE AND THE CLIENT HAS NOT EXPRESSED ANY CONCERNS RELATED TO THE DISTRIBUTIONS. AS THE FA HAS INFORMED THE CLIENT NEITHER EDWARD JONES NOR OUR FINANCIAL ADVISORS PROVIDE TAX ADVICE; THEREFORE, WE SUGGEST CLIENTS CONSULT WITH THEIR TAX PROFESSIONAL WITH REGARD TO ANY TAX AND/OR TAX REPORTING ISSUES. AS A RESULT OF OUR REVIEW, WE ARE RESPECTFULLY DENYING THE CLIENT'S REQUEST FOR COMPENSATION RELATED TO THIS MATTER.
Date: May 08, 2009 Category: Customer Dispute Allegations: 11/08; ATTORNEY CLAIMS THE FA SPOKE WITH THE CLIENT AFTER MARKET CLOSE ON 11/21/08 AND INSTRUCTED THE FA TO PURCHASE SHARES OF NG IN THE ACCOUNT AT $1.40 PER SHARE AND TO PLACE A STOP LOSS ORDER AT 25%. ATTORNEY CLAIMS ON 11/24/08, THE FA PLACED AN ORDER TO PURCHASE THE SHARES AT $2.40 PER SHARE AND FAILED TO PLACE THE STOP LOSS. ATTORNEY ALLEGES THAT THE SHARES WERE SOLD IN DECEMBER 2008 FOR A LOSS WITHOUT THE KNOWLEDGE OR CONSENT OF THE CLIENT(S). ATTORNEY REQUESTS THAT THE CLIENTS BE REIMBURSED FOR THE LOSSESS ASSOCIATED WITH THE TRANSCTIONS. LOSSES ARE APPROXIMATELY $6,166.91. Damage Amount Requested: $6,166.91 Broker Comment: THE FA HAD MULTIPLE CONVERSATIONS WITH THE CLIENTS REGARDING (NG) STOCK PRIOR TO 11/08. THE FA ADVISED THE CLIENTS HE WOULD NOT PURCHASE ANY STOCKS TRADING UNDER $2.00 PER SHARE. THE CLIENTS WERE ALSO ADVISED HE DID NOT RECOMMEND PLACING A STOP LOSS ORDER UNTIL THEY OWNED THE STOCK AS DOING SO WOULD PUT THEM AT RISK FOR SHORT SELLING. THE CLIENTS WERE PROVIDED WITH TWO OPTIONS: 1) THE FA COULD PLACE THE TRADES AFTER MARKET CLOSE ON 11/21/08 AND SEE IF THE ORDERS FILLED (ABOVE $2.00 PER SHARE) AT MARKET OPEN ON MONDAY, OR 2) THE CLIENTS COULD WAIT TO PLACE THE TRADES ON MONDAY, 11/24/08. IT IS UNDERSTOOD THE CLIENTS WERE CONCERNED ABOUT MISSING THE MARKET AND PROVIDED INSTRUCTIONS TO PLACE THE ORDER "NOW". MARKET ORDERS (NOT LIMIT ORDERS) WERE PLACED ON 11/21/09. OUR RECORDS REFLECT THE ORDERS FILLED ON 11/24/08 AT A PRICE OF $2.40 PER SHARE AND ON THE SAME DATE THE PRICE OF THE STOCK FELL TO $.37 PER SHARE. THE FA HAS INDICATED HE CONTACTED THE CLIENTS TO INFORM THEM OF THE SIGNIFICANT DROP IN THE PRICE OF THE STOCK AND HE WAS ADVISED THEY DID NOT WANT TO SELL AT THAT TIME. AT THIS POINT, THE CLIENTS HAD NOT PAID FOR THE PURCHASES. THE FA MADE SEVERAL CONTACTS IN AN EFFORT TO COLLECT THE FUNDS ADVISING THE CLIENTS THAT THE PURCHASES WOULD BE CANCELLED IF THE TRADES WERE NOT PAID FOR. ON 11/28/08 THE FA ADVISED THE CLIENTS THAT THE TRADES WERE BEING CANCELLED BECAUSE THE PURCHASES HAD NOT BEEN COVERED. BASED ON OUR REVIEW, THE CLIENTS DID NOT PLACE A LIMIT ORDER TO PURCHASE THE SHARES AT $1.40 PER SHARE. IN ADDITION, ALTHOUGH THE CLIENTS MAY HAVE INTENDED TO PLACE THE STOP LOSS ORDER AFTER THE PURCHASE, WHEN THE CLIENTS WERE INFORMED OF THE SIGNIFICANT DROP IN THE PRICE OF THE STOCK, THE FA WAS ADVISED THEY DID NOT WANT TO SELL. BECAUSE THEY HAD NOT PAID FOR THE PURCHASES, THE CLIENTS WERE RESPONSIBLE FOR THE LOSSES ASSOCIATED WITH THE CANCELLATIONS. CLAIM DENIED.
Date: January 02, 2009 Category: Customer Dispute Allegations: 1/08-12/08; CLIENT STATES SOMETIME LAST YEAR HE REQUESTED HIS GRANDSON'S ENTIRE ACCOUNT BE MOVED TO CDS. CLIENT CLAIMS AT THAT TIME, THE ACCOUNT WAS VALUE WAS APPROXIMATELY $21,000.00 AND WHEN THE FA DID NOT FOLLOW HIS INSTRUCTIONS THE ACCOUNT LOST ONE-HALF OF THE TOTAL VALUE. CLAIMS LOSSES EXCEED $5,000.00. Damage Amount Requested: $5,000.00 Broker Comment: ACCORDING TO THE FA, AS HE RECALLS, HE RECEIVED A MESSAGE FROM THE CLIENT IN MID-2008 AT WHICH TIME HE STATED HIS INTENT TO INVEST THE AVAILABLE CASH (AT THAT TIME APPROXIMATELY $6,000.00) IN CERTIFICATES OF DEPOSIT. THE FA HAS STATED HE ATTEMPTED TO CONTACT THE CLIENT TO DISCUSS THE TRADE AND ADVISE THE CLIENT THAT HE WAS NOT LICENSED IN THE STATE OF TENNESSEE; HOWEVER, HIS PHONE CALLS WERE NOT RETURNED. SINCE THE TIME THE INSTRUCTIONS WERE PURPORTEDLY GIVEN, THE CLIENT HAS RECEIVED ACCOUNT STATEMENTS WHICH PROVIDE INFORMATION REGARDING THE INVESTMENTS HELD IN THE ACCOUNT AS WELL AS REFLECTING ACCOUNT ACTIVITY. THEREFORE, IT WOULD SEEM, HAD THERE BEEN AN ISSUE WITH THE ACCOUNT IN MID-2008, WE WOULD HAVE BEEN CONTACTED IN A TIMELIER MANNER. AS A RESULT OF OUR REVIEW, WE WILL BE MAKING NO ADJUSTMENTS TO THE ACCOUNT REGARDING THIS ISSUE.
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