DAVID HORMELL RICE is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 103 MAIN ST, SAINT SIMONS, GA, 31522.
DAVID HORMELL RICE has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since January 02, 1991
Disclosure History
DAVID HORMELL RICE has 2 Disclosure Event(s).
Date: March 08, 2013 Category: Customer Dispute Allegations: THE CUSTOMER ALLEGES MISREPRESENTATION, UNSUITABLE INVESTMENT RECOMMENDATIONS, FAILURE TO FOLLOW INSTRUCTIONS AND UNAUTHORIZED USE OF MARGIN BETWEEN MAY 2010 AND DECEMBER 2012. Damage Amount Requested: $450,000.00 Settlement Amount: $41,400.00 Broker Comment: THE FINANCIAL ADVISOR DENIED THE ALLEGATIONS OF WRONGDOING. THIS MATTER WAS SETTLED TO AVOID THE COSTS AND UNCERTAINTY OF ARBITRATION. THE FINANCIAL ADVISOR DID NOT CONTRIBUTE MONETARILY TOWARDS THE SETTLEMENT.
Date: October 31, 2000 Category: Customer Dispute Allegations: CUSTOMER ALLEGES THAT FINANCIAL CONSULTANT FAILED TO FOLLOW INSTRUCTIOSN REGARDING SOURCE OF FUNDS FOR THE PURCHASE OF A MUTUAL FUND. CUSTOMER FURTHER ALLEGES THAT THE FUND PURCHASED WAS UNSUITABLE. NO DAMAGES SPECIFIED. Settlement Amount: $9,900.00 Broker Comment: IN ORDER TO AVOID THE COSTS AND UNCERTAINTIES OF LITIGATION, MERRILL LYNCH MADE A BUSINESS DECISION TO SETTLE THE MATTER.
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