DAVID KENNEDY ODELL is currently employed as a Broker and/or Investment Adviser at SUMMIT BROKERAGE SERVICES, INC. located at 621 ROLLINGWOOD DR, SHOREWOOD, IL, 60404.
DAVID KENNEDY ODELL has worked at SUMMIT BROKERAGE SERVICES, INC. since February 11, 2011
Disclosure History
DAVID KENNEDY ODELL has 2 Disclosure Event(s).
Date: January 29, 2006 Category: Customer Dispute Allegations: [CUSTOMER] FAXED A LETTER ON 1/29/06 EXPRESSING CONFUSION & QUESTIONS ABOUT $20,000 IRA ROLLOVER. UNPON DISCUSSING WITH HER SUBQUENTLY, SHE WAS VERY SATISFIED AND HAPPY WITH INVESTMENT. Damage Amount Requested: $20,000.00 Broker Comment: [CUSTOMER] WITHDREW HER LETTER OF CONCERN WITH A LETTER DATED 2/13/06 EXPRESSING HER SATISFACTION WITH INVESTMENT.
Date: September 04, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT MR. O'DELL SOLD HER UNSUITABLE MUTUAL FUNDS BASED ON HER OBJECTIVES OF INCOME AND CAPITAL PRESERVATION. THE COMPLAINT ALSO ALLEGES THAT MR. O'DELL FAILED TO INFORM THE CLIENT SHE WOULD HAVE TO PAY CAPITAL GAINS TAX ON THE SALE OF HER STOCK, WHICH WAS USED TO FUND THE MUTUAL FUND PURCHASE. Damage Amount Requested: $200,000.00 Settlement Amount: $15,000.00 Broker Comment: RESPONSE LETTER WAS SENT BY REP DENYING THE CLAIM. THE FIRM AGREES WITH THE REP'S POSITION. THE CLIENT NEW ACCOUNT FORM LISTS A "GROWTH & INCOME OBJECTIVE" WITH A "MODERATE" RISK TOLERANCE. THE CLIENT PURCHASED 4 MUTUAL FUNDS IN THE FIDELITY ADVISOR FAMILY. $100,000 EACH IN THE "EQUITY GROWTH", "GROWTH & INCOME", "HIGH YIELD" AND "MUNI INCOME" FUNDS. THE CLIENT HAD A LIQUID NET WORTH IN EXCESS OF $1.2 MILLION AT THE TIME OF INVESTMENT. THE INVESTMENTS WERE MADE IN EARLY 2000 AND THE SUBSEQUENT MARKET DECLINE CAUSED THE LOSSES.
More Information
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