CHRIS LEIGH THELEN is currently employed as a Broker and/or Investment Adviser at BMO HARRIS FINANCIAL ADVISORS, INC. located at 310 W WALNUT ST, GREEN BAY, WI, 54303.
CHRIS LEIGH THELEN has worked at BMO HARRIS FINANCIAL ADVISORS, INC. since August 01, 2012
Disclosure History
CHRIS LEIGH THELEN has 1 Disclosure Event(s).
Date: October 23, 2001 Category: Customer Dispute Allegations: CLIENT STATES HE INFORMED THELEN HE WANTED TO INVEST IN TAX DEFERRED ANNUITIES, BUT THELEN SUGGESTED HE WOULD HAVE A MUCH GREATER RETURN WITH THE STOCKS OF INDIVIDUAL COMPANIES. CLIENT STATES HE INFORMED THELEN HE COULD TOLERATE ONLY A SMALL AMOUNT OF RISK. CLIENT ALLEGES HE RECEIVED STATEMENTS WHICH REFLECTED THE DECLINE IN THE ACCOUNT VALUE AND HE CONTACTED THELEN REPEATEDLY AND WAS ENCOURAGED TO CONTINUE HOLDING THE STOCKS. CLIENT THEN ALLEGES THELEN ENCOURAGED HIM TO BORROW AGAINST THE HOLDINGS IN THE ACCOUNT TO PURCHASE ADDITIONAL STOCKS. CLIENT ALLEGES THELEN'S MISREPRESENTATIONS, FAILURE TO FOLLOW INSTRUCTIONS AND UNSUITABLE RECOMMENDATIONS RESULTED IN HIM LOSING A SUBSTANTIAL AMOUNT OF MONEY. LOSSES EXCEED $5,000.00.************************************************* ARBITRATION CASE DESCRITION: ALLEGATIONS OF VIOLATION OF THE 1934 ACT AND WISCONSIN UNIFORM SECURITIES LAW, WISCONSIN CONSUMER PROTECTION LAW, BREACH OF FIDUCIARY DUTY AND NEGLIGENCE, NEGLIGENT MISREPRESENTATION/OMISSION, BREACH OF CONTRACT, RESPONDEAT SUPERIOR, CONTROL PERSON LIABILITY AND FAILURE TO SUPERVISE IN RECOMMENDING INVESTMENTS IN HIS $80,000 ACCOUNT. (AMOUNT CLAIMED: $86,051 PLUS INTEREST, ATTORNEYS' FEES AND COSTS) Damage Amount Requested: $40,000.00 Settlement Amount: $16,500.00 Broker Comment: THELEN STATES HE MET WITH THE CLIENT IN DECEMBER, 1999. THELEN HAS INDICATED HE DISCUSSED THE IMPORTANCE OF DIVERSIFICTION IN A PORTFOLIO AND THE RISKS ASSOCIATED WITH OWNING ONLY GROWTH AND/OR AGGRESSIVE GROWTH INVESTMENTS. THELEN HAS FURTHER INDICATED THE CLIENT STATING HIS UNDERSTANDING OF THE RISKS ASSOCIATED WITH OWNING THESE TYPES OF INVESTMENTS. CLIENT INITIATED A 1035 EXCHANGE FROM AAL TO SUNAMERICA IN FEBRUARY, 2000. THE REASON FOR THE EXCHANGE, AS INDICATED ON A SIGNED ACKNOWLEDGEMENT LETTER, AS "SEEKING HIGHER RETURNS, MORE INVESTMENT CHOICES, BETTER FUND MANAGERS". THELEN STATES THE CLIENT CONTACTED HIM IN MARCH, 2000 REGARDING HOW HE COULD BORROW FUNDS TO PURCHASE STOCKS AS HE BELIEVED IT WOULD BE A GOOD TIME TO PURCHASE STOCKS AT LOWER PRICES. THELEN FURTHER STATES HE DID DISCUSS STOP LOSS ORDERS WITH THE CLIENT AND EXPLAINED THE RISKS ASSOCIATED WITH STOP LOSS ORDERS WHEN TRADING AGGRESSIVE, VOLATILE STOCKS. AT THE TIME OF THE TRANSACTIONS, THE CLIENT WOULD HAVE RECEIVED TRADE CONFIRMATIONS. IN ADDITION, HE HAS RECEIVED CUSTOMER STATEMENTS. IT IS OUR OPINION THE TRANSACTIONS WERE AUTHORIZED. FURTHERMORE, IT DOES NOT APPEAR THE INVESTMENTS PURCHASED, SOLD AND/OR HELD IN THE ACCOUNT ARE OUTSIDE THE SCOPE OF THE INVESTMENT OBJECTIVES (GROWTH, AGGRESSIVE GROWTH). CLAIM DENIED.
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