CHIEN NGUYEN is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 520 NEWPORT CTR DR, NEWPORT BEACH, CA, 92660.
CHIEN NGUYEN has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since January 12, 2012
Disclosure History
CHIEN NGUYEN has 1 Disclosure Event(s).
Date: June 21, 2006 Category: Customer Dispute Allegations: CLIENT ALLEGED THAT HER SIGNATURE WAS FORGED ON A B-SHARE ACKNOWLEDGMENT FORM THAT CORRESPONDED WITH MUTUAL FUND PURCHASES IN 2001; HOWEVER, THIS COMPLAINT IS BEING LODGED 5 YEARS AFTER THE TRANSACTION TOOK PLACE. Damage Amount Requested: $12,474.00 Settlement Amount: $15,936.18 Broker Comment: THE CUSTOMER IS APPARENTLY BEING COACHED INTO LODGING THIS COMPLAINT. TWO MUTUAL FUND PURCHASES IN 2001 THAT CORRESPOND WITH THE B-SHARE DISCLOSURE FORM WERE LIQUIDATED IN 2002. I DID NOT ADVISE HER ON THIS LIQUIDATION AND AT THE TIME THAT I RECOMMENDED THE B-SHARES, SHE HAD MADE A COMMITMENT TO HOLD THESE FUNDS BEYOND THE CDSC PERIOD. AT THE TIME, THE CUSTOMER ACKNOWLEDGES THAT SHE SAW HER SIGNATURE, BUT DID NOT COMPLAIN AT THAT TIME. THE CUSTOMER HELD THE MONEY MARKET FUNDS FROM 2002 UNTIL NOW (JULY 2006).THE MUTUAL FUND PURCHASED IN 2001 INVOLVED CONSERVATIVE OBJECTIVES (OBJECTIVE: INCOME) AND THESE FUNDS WERE VERY SUITABLE TO HER INVESTMENT OBJECTIVES AND RISK TOLERANCE. AS IT TURNS OUT, SHE WOULD HAVE HELD THE FUNDS BEYOND THE DEFERRAL CHARGE PERIOD. I AM CONCERNED THAT A CUSTOMER'S ALLEGATION 5 YEARS LATER IS THE FIRST COMPLAINT RECORDED ON MY REGISTRATION HISTORY.I WAS NOT INVOLVED AT ALL WITH WMFS DECISION, SETTLEMENT AMOUNT OR NEGOTIATIONS, NOR DO I AGREE WITH THE AMOUNT NOR THE DECISION. WMFS SETTLED DUE TO PRESSURE FROM CLIENT'S ATTORNEY AND THE COST OF HIRING AN ATTORNEY FOR WMFS.
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