DANIEL JOE NIELSEN

DANIEL JOE NIELSEN is currently employed as a Broker and/or Investment Adviser at BROKER DEALER FINANCIAL SERVICES CORP. located at 809 N JOHN WAYNE DRIVE, 809 N JOHN WAYNE DRIVE, WINTERSET, IA, 50273.

DANIEL JOE NIELSEN has worked at BROKER DEALER FINANCIAL SERVICES CORP. since October 30, 2013

Disclosure History

DANIEL JOE NIELSEN has 1 Disclosure Event(s).

Date: February 25, 2010
Category: Customer Dispute
Allegations: 1/10-2/10; THE CLIENT STATES HE INFORMED THE FA HE WANTED SAFE INVESTMENTS. HE STATES WHEN HE REVIEWED HIS ACCOUNT A FEW DAYS AFTER THE INVESTMENTS WERE MADE, HE WAS SHOCKED TO SEE THE DECLINE IN VALUE OF $7999. HE STATES THE FA INFORMED HIM PART OF IT WAS DUE TO MARKET CONDITIONS AND A 3% SALES CHARGE. HE STATES THE FA DID NOT INFORM HIM OF THE SALES CHARGE. HE WOULD LIKE TO BE REFUNDED THE SALES CHARGE.
Damage Amount Requested: $7,999.00
Settlement Amount: $7,901.44
Broker Comment: IT IS OUR UNDERSTANDING THE CLIENT INFORMED THE FA HE WOULD ACCESS THE FUNDS IN HIS JOINT ACCOUNT TO COVER AN RV PURCHASE. THE FA STATES HE WAS NOT INFORMED THE CLIENT WOULD MAKE WITHDRAWALS FROM HIS RETIREMENT ACCOUNT. HE STATES PRIOR TO THE FUNDS TRANSFERRING TO EDWARD JONES HE REVIEWED SALES CHARGES ON THE FUNDS HE RECOMMENDED FOR THE ACCOUNT. ACCORDING TO THE FA, WHEN THE CHECK WAS RECEIVED, HE CONTACTED THE CLIENT AND WAS INSTRUCTED TO MAKE THE INVESTMENTS ACCORDING TO THE PREVIOUS DISCUSSIONS. THE FA STATES HE DID INFORM THE CLIENT THE SALES CHARGES ON THE FUNDS WERE UPFRONT CHARGES. HOWEVER, IT IS OUR UNDERSTANDING THE CLIENT'S CONCERNS REGARDING THE SALES CHARGES AND MARKET VALUE OF THE ACCOUNT WERE FIRST DISCUSSED WITH THE FA TWO DAYS AFTER THE TRANSACTIONS WERE COMPLETED. AS A RESULT, WE ARE OFFERING TO REIMBURSE THE ACCOUNT THE SALES CHARGES. ACCORDING TO OUR RECORDS, THE SALES CHARGES TOTAL $7,901.44. THE CLIENT HAS BEEN SENT A SETTLEMENT OFFER AND HAS 30 DAYS TO ACCEPT. AS OF 3/23/10, THE CLIENT AS ACCEPTED THE OFFER.

More Information

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