CARL ANDREW VANDENBURG is currently employed as a Broker and/or Investment Adviser at AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC. located at 1224 4TH AVE SOUTH, PARK FALLS, WI, 54552.
CARL ANDREW VANDENBURG has worked at AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC. since March 02, 2007
Disclosure History
CARL ANDREW VANDENBURG has 2 Disclosure Event(s).
Date: December 18, 2012 Category: Customer Dispute Allegations: ALLEGED UNSUITABLE FOR INVESTEMENTS. SOMETIME IN 2006 PRIOR TO JOINING APFS THE REPRESENTATIVE PURCHASED TWO REITSFOR THE CLIENTS. Damage Amount Requested: $75,000.00 Damages Granted: $45,500.00 Broker Comment: THIS CLAIM IS WITHOUT MERIT AND WILL BE VIGOROUSLY DEFENDED. ALL PRODUCTS WENT THROUGH THE STRINGENT DUE DILIGENCE REQUIREMENTS OF MY FIRM. THESE INVESTMENTS WERE DIVERSIFIED AND EACH SPONSOR HAD A GOOD PRIOR TRACK RECORD. THE CLIENT MET THE NET WORTH AND INCOME REQUIREMENTS, RECEIVED AND REVIEWED THE PROSPECTUS AND WAS APPRISED OF THE RISKS ASSOCIATED WITH EACH INVESTMENT. ALL INVESTMENTS WERE CONSISTENT WITH THESE CLIENTS' OBJECTIVES, WISHES AND RESOURCES. THE LOSS WAS CAUSED BY THE DRAMATIC DROP IN ASSET VALUE DURING THE ECONOMIC DOWNTURN OF 2008-2009.
Date: April 14, 2011 Category: Customer Dispute Allegations: ALLEGED UNSUITABLE IN VARIOUS INVESTMENTS. Damage Amount Requested: $119,000.00 Broker Comment: THIS CLAIM IS WITHOUT MERIT AND WILL BE VIGOROUSLY DEFENDED. ALL PRODUCTS WENT THROUGH THE STRINGENT DUE DILIGENCE REQUIREMENTS OF MY FIRM. THESE INVESTMENTS WERE DIVERSIFIED AND EACH SPONSOR HAD A GOOD PRIOR TRACK RECORD. THE CLIENT MET THE NET WORTH AND INCOME REQUIREMENTS, RECEIVED AND REVIEWED THE PROSPECTUS AND WAS APPRISED OF THE RISKS ASSOCIATED WITH EACH INVESTMENT. ALL INVESTMENTS WERE CONSISTENT WITH THESE CLIENTS' OBJECTIVES, WISHES AND RESOURCES. THE LOSS WAS CAUSED BY THE DRAMATIC DROP IN ASSET VALUE DURING THE ECONOMIC DOWNTURN OF 2008-2009.
More Information
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