DANIEL HOWARD ADAMS is currently employed as a Broker and/or Investment Adviser at CETERA ADVISORS LLC located at 7117 W. HOOD PL., KENNEWICK, 99336, WA, 99336.
DANIEL HOWARD ADAMS has worked at CETERA ADVISORS LLC since February 28, 2012
Disclosure History
DANIEL HOWARD ADAMS has 3 Disclosure Event(s).
Date: September 07, 2005 Category: Customer Dispute Allegations: VIOLATION OF STATE SECURITIES LAWS; BREACH OF FIDUCIARY DUTY/NEGLIGENCE; VIOLATION OF STATE CONSUMER PROTECTION LAWS IN RELATION TO RECOMMENDATIONS AND SALES OF SECURITIES OFFERED BY METROPOLITAN MORTGAGE AND SECURITIES AND SUMMIT SECURITIES. THE REGISTERED REPRESENTATIVE VIGOROUSLY DENIES THE ALLEGATIONS. Settlement Amount: $40,092.44 Broker Comment: THIS COMPLAINT IS NOT THE RESULT OF ANY ACTION OR INACTION ON THE PART OF THIS REPRESENTATIVE. RATHER, IT STEMMED FROM THE FAILURE AND SUBSEQUENT CHAPTER 11 BANKRUPTCY FILING OF METROPOLITAN MORTGAGE AND SUMMIT SECURITIES. THIS REPRESENTATIVE WOULD HAVE NEITHER PRESENTED THESE INVESTMENTS TO HIS CLIENTS NOR PURCHASED THEM FOR HIS OWN ACCOUNT HAD THE AUDITED FINANCIAL STATEMENTS PORTRAYED AN ACCURATE PICTURE OF THE ISSUERS' DEFAULT RISK.THIS APPEARS TO BE A NUISANCE COMPLAINT, AS THE COMPLAINANTS SETTLED FOR LESS THAN 1/20TH OF THE DAMAGES ORIGINALLY SOUGHT.
Date: July 13, 2004 Category: Customer Dispute Allegations: CLIENTS PURCHASED METROPOLITAN MORTGAGE & SECURITIES CO INC DEBENTURES ON 10/04/2002 AND WESTERN UNITED HOLDING COMPANY PREFERRED STOCK SHARES ON 04/08/2003. THEY ALLEGE MISREPRESENTATIONS, OMISSIONS, AND UNSUITABLE RECOMMENDATIONS IN CONNECTION WITH THE PURCHASE OF THESE INVESTMENTS. THE REGISTERED REPRESENTATIVE VIGOROUSLY DENIES THESE ALLEGATIONS. Damage Amount Requested: $625,000.00 Settlement Amount: $21,375.00 Broker Comment: THIS COMPLAINT IS NOT THE RESULT OF ANY ACTION OR INACTION ON THE PART OF THIS REPRESENTATIVE. RATHER, IT STEMMED FROM THE FAILURE AND SUBSEQUENT CHAPTER 11 BANKRUPTCY FILING OF METROPOLITAN MORTGAGE AND SUMMIT SECURITIES. THIS REPRESENTATIVE WOULD HAVE NEITHER PRESENTED THESE INVESTMENTS TO HIS CLIENTS NOR PURCHASED THEM FOR HIS OWN ACCOUNT HAD THE AUDITED FINANCIAL STATEMENTS PORTRAYED AN ACCURATE PICTURE OF THE ISSUERS' DEFAULT RISK.THIS APPEARS TO BE A NUISANCE COMPLAINT, AS THE COMPLAINANTS SETTLED FOR LESS THAN 1/20TH OF THE DAMAGES ORIGINALLY SOUGHT.
Date: April 27, 2004 Category: Customer Dispute Allegations: BOUGHT METROPOLITAN DEBENTURES AND PREFERRED STOCK. METROPOLITAN FILED FOR BANKRUPTCY PROTECTION. CLIENT STATES THAT REP MADE UNSUITABLE RECOMMENDATIONS. Damage Amount Requested: $144,000.00 Broker Comment: THIS COMPLAINT IS NOT THE RESULT OF ANY ACTION OR INACTION ON THE PART OF THIS REPRESENTATIVE. RATHER, IT STEMMED FROM THE FAILURE AND SUBSEQUENT CHAPTER 11 BANKRUPTCY FILING OF METROPOLITAN MORTGAGE AND SUMMIT SECURITIES. THIS REPRESENTATIVE WOULD HAVE NEITHER PRESENTED THESE INVESTMENTS TO HIS CLIENTS NOR PURCHASED THEM FOR HIS OWN ACCOUNT HAD THE AUDITED FINANCIAL STATEMENTS PORTRAYED AN ACCURATE PICTURE OF THE ISSUERS' DEFAULT RISK.THIS APPEARS TO BE A NUISANCE COMPLAINT, AS THE COMPLAINANT ELECTED NOT TO PURSUE THIS MATTER.
More Information
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