CHRISTINE SCHIFERL

CHRISTINE SCHIFERL is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 111 SECOND AVENUE NE STE 522, PLAZA TOWER BUILDING, ST. PETERSBURG, FL, 33701.

CHRISTINE SCHIFERL has worked at LPL FINANCIAL LLC since May 21, 2002

Disclosure History

CHRISTINE SCHIFERL has 1 Disclosure Event(s).

Date: May 04, 2007
Category: Customer Dispute
Allegations: CUSTOMER ALLEGED THAT REPRESENTATIVE DID NOT ADVISE OF TAX CONSEQUENCES OF SURRENDERING NON-QUALIFIED ANNUIITIES AND REQUESTED PAYMENT OF $10,000 AS COMPENSATION.
Damage Amount Requested: $10,000.00
Settlement Amount: $9,900.00
Broker Comment: THIS MATTER RESULTED FROM A COLLECTIVE ERROR AMONG MYSELF, THE CLIENT, AND THE CLIENT'S ACCOUNTANT. DESPITE WHAT I BELIEVED TO BE DILIGENT INQUIRY, I RECEIVED INACCURATE COST BASIS INFORMATION CONCERNING THE CLIENT'S ANNUITIES THAT WERE SURRENDERED, EVEN THOUGH THE CLIENT'S ACCOUNTANT WAS AWARE OF THE GAINS THAT HAD OCCURRED IN PREVIOUSLY OWNED ANNUITIES. THIS LED ME TO BELIEVE THAT NO CAPITAL GAINS TAX WOULD BE OWED ON THE SURRENDER. IF I HAD RECEIVED CORRECT COST BASIS INFORMATION, THIS ERROR WOULD NOT HAVE OCCURRED.

More Information

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