David Lynn Hayes is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 605 NORTH WALTON BOULEVARD, BENTONVILLE, AR, 72712.
David Lynn Hayes has worked at EDWARD JONES since February 01, 1978
Disclosure History
David Lynn Hayes has 3 Disclosure Event(s).
Date: November 05, 2001 Category: Customer Dispute Allegations: THE CLIENT ALLEGED THAT THERE WERE MISREPRESENTATIONS, UNSUITABLE RECOMMENDATIONS, WHICH HAVE RESULTED IN SUBSTANTIAL LOSSES TO THE CLIENT'S TRUST AND IRA ACCOUNTS. IN ADDITON, THE CLIENT STATED THAT HE DID NOT RECEIVE PROPER SUPPORT AND COMMUNICATIONS ON HIS ACCOUNT RELATIVE TO THE DECLINE IN THE ACCOUNT VALUE. Damage Amount Requested: $5,000.00 Broker Comment: HAYES FOLLOWED THE CLIENTS INSTUCTIONS ON ALL OF THE TRADES THAT WERE MADE IN THE ACCOUNT. THE TRADING ACTIVITY MET THE CLIENTS OBJECTIVES OF GROWTH, GROWTH AND INCOME AND AGGRESSIVE. HAYES ELECTED TO TERMINATE THE RELATIONSHIP WITH THE CLIENT, BECAUSE HE TOOK UP FAR MORE TIME THAN ANY OF HIS CLIENTS. THE CLIENT WOULD CONTUNUOSLY FAX REQUESTS TO THE BRANCH OFFICE FOR INFORMATION, AND COMPLAINED ABOUT COMMISSIONS AND CALLED EDWARD JONES AND THE IR "DUMB." THE CLIENTS CLAIMS WERE DENIED.
Date: April 23, 2001 Category: Customer Dispute Allegations: THE CLIENT STATES IN JULY OF 2000 HE INSTRUCTED HAYES TO MOVE HIS MUTUAL FUND ANNUITY BUCKETS INTO MONEY. THE CLIENT STATES HE DID NOT ASK FOR HAYES OPINION HOWEVER, HAYES TALKED HIM OUT OF MAKING THE MOVE. THE CLIENT STATES HIS ANNUITY HAS GONE DOWN IN VALUE BY $300,000 AS A RESULT OF FOLLOWING HAYES RECOMMENDATION. ***********************ARBITRATION CASE DESCRIPTION: ALLEGATIONS OF FAILURE TO FOLLOW INSTRUCTIONS WHEN CLAIMANT WANTED TO SELL HIS MUTUAL FUNDS AND CONVERT ALL ASSETS TO MONEY MARKET. (AMOUNT CLAIMED: $423,341 IN COMPENSATORY LOSSES, $846,682 IN PUNITIVE DAMAGES, $37,041 IN INTEREST AND $2,125 IN COSTS) Damage Amount Requested: $300,000.00 Damages Granted: $14,747.00 Broker Comment: CLIENT STATED HE AGREED TO MAINTAIN THE POSITIONS IN THE SUB-ACCOUNTS. IT APPEARS CUSTOMER WAS AWARE OF THE RISKS ASSOCIATED WITH THE INVESTMENTS AND THE ALLOCATION OF THE SUB-ACCOUNTS WAS IN LINE WITH THE CLIENT'S STATED INVESTMENT OBJECTIVES AND FINANCIAL INFORMATION. CLAIM DENIED. ***********************************************ARBITRATION CASE RESOLUTION: AWARD OF $14,747.00
Date: July 30, 1990 Category: Customer Dispute Allegations: FIDUCIARY DUTY, UNSUITABILITY,MISREPRESENTATION AND VIOLATION OF STATE AND FEDERAL SECURITIESLAWS IN THE SALE OF CERTAIN SECURITIES. (AMOUNT CLAIMED:UNSPECIFIED PLUS PUNITIVE DAMAGES, FEES, INTEREST, COSTS) Settlement Amount: $12,000.00 Broker Comment: SETTLED FOR $12,000.NOT PROVIDED
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