ALLAN DAVID GOTTESMAN is currently employed as a Broker and/or Investment Adviser at RAYMOND JAMES & ASSOCIATES, INC. located at 2 N. TAMIAMI TRAIL, SUITE 804, SARASOTA, FL, 34236.
ALLAN DAVID GOTTESMAN has worked at RAYMOND JAMES & ASSOCIATES, INC. since October 29, 2004
ALLAN DAVID GOTTESMAN has 1 Disclosure Event(s).
Date: September 23, 2008 Category: Customer Dispute Allegations: **UPDATE - THIS DISCLOSURE IS NO LONGER REPORTABLE ON THE CURRENT U4 BECAUSE IT WAS FILED MORE THAN 24 MONTHS AGO AND DID NOT SETTLE FOR $15,000 OR MORE** CLIENT ALLEGES MISREPRESENTATION - NO ALLEGED DOLLAR AMOUNT SPECIFIED - FIRM ESTIMATES IN EXCESS OF $5,000. ACTIVITY DATES ARE FROM 5/13/08 THRU 9/23/08 Settlement Amount: $4,000.00 Broker Comment: **UPDATE - THIS DISCLOSURE IS NO LONGER REPORTABLE ON THE CURRENT U4 BECAUSE IT WAS FILED MORE THAN 24 MONTHS AGO AND DID NOT SETTLE FOR $15,000 OR MORE** THIS CLIENT CALLED ME TO INQUIRE ABOUT A NEW ISSUE PREFERRED STOCK OFFERING HE HAD RECEIVED. I INFORMED HIM THAT THE ISSUE SOLD OUT. I ASKED HIM IF HE WOULD LIKE ME TO CONTACT HIM ABOUT FUTURE ISSUES AT A SIMILAR YIELD. HE SAID HE WOULD. I FELT IT WAS A SUITABLE RECOMMENDATION FOR THE YIELD AND QUALITY HE WAS LOOKING FOR. AT THE TIME OF THE RECOMMENDATION, THE PREFERRED STOCK RECOMMENDED WAS AA-RATED AND ISSUED BY A GOVERNMENT SPONSORED AGENCY. THE AMOUNT WAS APPROXIMATELY 5.00% OF HIS ACCOUNT VALUE AT THE TIME. I CALLED THE CLIENT AND EXPLAINED THAT A NEW PREFERRED ISSUE, (ISSUER NAME) WAS PRICED AT (YIELD) FOR $25.00 PER SHARE PAYING QUARTERLY DIVIDENDS. HE TOLD ME THE AMOUNT HE WANTED TO INVEST AND I CONFIRMED THE NUMBERS OF SHARES HE WAS PURCHASING. IN SUBSEQUENT CONVERSATIONS, WITH THE CLIENT, HE CONFIRMED THAT HE REALIZED THAT IT WAS A PREFERRED STOCK AFTER HE RECEIVED THE CONFIRMATION. HE SAID HE DOES NOT KNOW WHY HE DID NOT CALL ME AT THE TIME TO EXPRESS HIS CONCERNS OF OWNING A PREFERRED STOCK. I TOLD HIM HAD HE CALLED ME AND TOLD ME HE DID NOT UNDERSTAND HE WAS PURCHASING A PREFERRED STOCK WHEN HE RECEIVED THE CONFIRMATION, I WOULD HAVE BEEN ABLE TO CANCEL THE TRADE. HE DID NOT EXPRESS HIS CONCERNS UNTIL 4 MONTHS AFTER THE TRADE DATE AND AFTER THE MARKET VALUE HAD DROPPED.
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