DEREK MICHAEL GREENE is currently employed as a Broker and/or Investment Adviser at ROBERT W. BAIRD & CO. INCORPORATED located at ONE N MAIN ST, JANESVILLE, WI, 53545.
DEREK MICHAEL GREENE has worked at ROBERT W. BAIRD & CO. INCORPORATED since March 17, 2006
DEREK MICHAEL GREENE has 4 Disclosure Event(s).
Date: December 03, 2010 Category: Customer Dispute Allegations: THE CLIENT ALLEGES THAT HER FINANCIAL ADVISOR LET HER ANNUITY ANNUITIZE WITH OUT EXPLAINING ALL OF HER INVESTMENT OPTIONS. (09/01/2005) Damage Amount Requested: $79,400.00
Date: July 28, 2010 Category: Customer Dispute Allegations: AMONG OTHER CLAIMS, POA ALLEGES THAT CLIENT FAILED TO RECEIVE THE CONTRACT FOR MANAGED PROGRAM AND DEMANDS RESCISSION AND REIMBURSEMENT. Damage Amount Requested: $23,632.87 Settlement Amount: $8,750.00 Broker Comment: THIS COMPLAINT WAS BROUGHT BY THE HOLDER OF THE POWER OF ATTORNEY FOR HER TWO ELDERLY AUNTS (CLIENTS) WHO LIVED NEXT DOOR TO EACH OTHER, IN CONJUNCTION WITH ANOTHER REPORTABLE SETTLEMENT OF THE SAME DATE. AT THE SAME TIME, THE POA ALSO MADE A COMPLAINT AGAINST GREENE WITH HIS FORMER FIRM, WELLS FARGO. AS REPORTED HEREIN, THAT CLAIM WAS DENIED. THE COMPANY DETERMINED THAT IT WAS IN THE PARTIES' BEST INTEREST TO SETTLE THIS MATTER FOR COST OF DEFENSE AND AS A NUISANCE TO AVOID ANY ADDITIONAL, UNWARRANTED DISTRACTIONS ARISING FROM ALLEGATIONS VIEWED AS MERITLESS. BAIRD AND GREENE DENY ANY WRONGDOING.
Date: July 12, 2010 Category: Customer Dispute Allegations: CLIENT, THROUGH HER POA, EXPRESSED CONCERN THAT THE CURRENT MUTUAL FUND PROGRAM AND SOME HISTORICAL INVESTMENTS WERE NOT SUITABLE FOR HER. AS A RESULT, CLIENT IS DEMANDING THAT THE CURRENT PROGRAM BE DISCONTINUED AND THAT SHE BE REIMBURSED FOR MARKET LOSS. Damage Amount Requested: $57,512.32 Settlement Amount: $26,250.00 Broker Comment: THIS COMPLAINT WAS BROUGHT BY THE HOLDER OF THE POWER OF ATTORNEY FOR HER TWO ELDERLY AUNTS (CLIENTS) WHO LIVED NEXT DOOR TO EACH OTHER, IN CONJUNCTION WITH ANOTHER REPORTABLE SETTLEMENT OF THE SAME DATE. AT THE SAME TIME, THE POA ALSO MADE A COMPLAINT AGAINST GREENE WITH HIS FORMER FIRM, WELLS FARGO. AS REPORTED HIREIN, THAT CLAIM WAS DENIED. THE COMPANY DETERMINED THAT IT WAS IN THE PARTIES' BEST INTEREST TO SETTLE THIS MATTER FOR COST OF DEFENSE AND AS A NUISANCE TO AVOID ANY ADDITIONAL, UNWARRANTED DISTRACTIONS ARISING FROM ALLEGATIONS VIEWED AS MERITLESS. BAIRD AND GREENE DENY ANY WRONGDOING.
Date: August 07, 2006 Category: Customer Dispute Allegations: WISCONSIN CLIENT STATES THAT HIS FORMER WACHOVIA SECURITIES FINANCIAL ADVISORS, [THIRD PARTY] AND DEREK GREENE, RECOMMENDED HE SWITCH FROM A HARTFORD ANNUITY TO AN AMERICAN SKANDIA ANNUITY IN 2004 ON GROUNDS THAT THE NEW POLICY WAS BETTER AND LOWER COST. CLIENT STATES THAT HE LATER FOUND THIS TO BE INCORRECT. CLIENT ESTIMATES THE HARTFORD SURRENDER CHARGE INCURRED AS A RESULT AT $4,000. CLIENT ALSO STATES THAT [THIRD PARTY] AND GREENE RECOMMENDED THE SUBSEQUENT PURCHASE OF A HARTFORD VARIABLE UNIVERSAL LIFE POLICY THAT HE DID NOT NEED GIVEN HIS AGE AND INCOME. CLIENT ESTIMATES THE CURRENT LOSS ON THE HARTFORD VARIABLE UNIVERSAL LIFE POLICY AT $4,000. TOTAL DAMAGES CLAIMED BY CLIENT ON THE TWO ISSUES COMBINED ARE $8,000. Damage Amount Requested: $8,000.00 Broker Comment: DENIED BY FIRM ON OCTOBER 12, 2006. ON REVIEW IT APPEARS THAT CLIENT'S ANNUITIES HAVE SHOWN A GAIN OF OVER $50,000 AND THAT HIS VARIABLE UNIVERSAL LIFE INSURANCE INVESTMENT WAS PURCHASED AS PART OF A REASONABLE WEALTH REPLACEMENT ESTATE PLANNING PLAN.
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
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