BrokerSearch

BrokerSearch

CHRISTINE FLORENCE HEIM

CHRISTINE FLORENCE HEIM is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 100 CAMPUS DR, FLORHAM PARK, NJ, 07932.

CHRISTINE FLORENCE HEIM has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since September 10, 2010

Disclosure History

CHRISTINE FLORENCE HEIM has 1 Disclosure Event(s).

Date: March 24, 2009
Category: Customer Dispute
Allegations: NEW JERSEY CLIENT CLAIMED THAT APPROXIMATELY FIVE YEARS AGO (MAY 2003) SHE BEGAN WORKING WITH THE FA, EVEN THOUGH HESITANT ABOUT INVESTING HER MONEY; FURTHER, THAT THE FA ADVISED HER TO PAY $1,000 EXTRA SO THAT SHE COULD TAKE HER MONEY WITHOUT PAYING A PENALTY BEFORE THE FIRST SEVERAL YEARS WERE UP. THE CLIENT FURTHER CLAIMED THAT FROM THEN ON, SHE THOUGHT SHE COULD TAKE OUT ALL OF HER MONEY AT ANYTIME. THE CLIENT CLAIMED THAT DURING THE COURSE OF SEVERAL YEARS HER INVESTMENT(S) DID WELL REACHING A SUM OF $635,000. THE CLIENT CLAIMED THAT THEN EVERYTHING STARTED GOING DOWN AND SHE CALLED THE FA FROM TIME TO TIME AND WAS TOLD SHE DIDN'T UNDERSTAND MARKET VOLATILITY. THE CLIENT CLAIMED THAT SHE TOLD THE FA TO LIQUIDATE EVERYTHING ON OCTOBER 13, 2007 SO SHE COULD TAKE HER MONEY OUT. THE CLIENT CLAIMED THAT THE FA REFUSED TO TELL HER HOW TO LIQUIDATE AND THAT SHE LET THE FA CONVINCE HER NOT TO LIQUIDATE HER ACCOUNT(S) AND TAKE HER MONEY OUT. THE CLIENT CLAIMED THAT THE FA PROMISED HER $40,000 A YEAR WHEN HER ACCOUNT(S) WERE AT $635,000 AND WHEN THE ACCOUNT(S) WENT DOWN TO $435,000 THE FA PROMISED HER THE SAME THING. THE CLIENT CLAIMED THAT SHE FINALLY INSISTED THAT THE FA LIQUIDATE HER ACCOUNT(S). THE CLIENT'S ACCOUNT(S) WERE LIQUIDATED IN FEBRUARY 2009. THE CLIENT DID NOT REQUEST OR SPECIFY ANY DAMAGES. LOSSES ARE ESTIMATED TO BE IN EXCESS OF $5,000.
Broker Comment: THE FIRM DENIED THE COMPLAINT VIA A LETTER TO THE CLIENT ON MAY 18, 2009. BASED UPON THE FIRMS' REVIEW IT WAS DETERMINED THAT DURING THE RELEVANT TIME PERIOD THE INVESTMENTS THAT WERE MADE FOR THE CLIENT'S ACCOUNTS APPEARED TO BE CONSISTENT WITH HER INVESTMENT OBJECTIVES, HER RISK TOLERANCE, HER INVESTMENT TIME HORIZON, HER OVERALL INVESTOR PROFILE AND HER RETIREMENT GOALS. FURTHER, IT DID NOT APPEAR THAT THE FA FAILED TO ADVISE THE CLIENT ON HOW TO LIQUIDATE HER ACCOUNTS AND/OR INVESTMENTS OR THAT THE FA ACTED IN ANYTHING OTHER THAN A PROFESSIONAL MANNER. THE FA DID ADVISE THE CLIENT ON HOW TO TRANSFER HER ACCOUNTS FROM THE FIRM. FINALLY, IT WAS DETERMINED THAT THE FA HAD ADVISED THE CLIENT OF ALL THE FEES THAT WERE ASSOCIATED WITH THE CLIENT'S ASSET-BASED FEE ADVISORY ACCOUNTS.

More Information

All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.

A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.

BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.

To view the full report for CHRISTINE FLORENCE HEIM, click here.

The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.

How to choose a broker or investment adviser. Learn More