DONALD WILLIAM WELCH

DONALD WILLIAM WELCH is currently employed as a Broker and/or Investment Adviser at AIG CAPITAL SERVICES, INC. located at 21650 OXNARD AVENUE, SUITE 750, WOODLAND HILLS, CA, 91367.

DONALD WILLIAM WELCH has worked at AIG CAPITAL SERVICES, INC. since April 05, 2007

Disclosure History

DONALD WILLIAM WELCH has 2 Disclosure Event(s).

Date: June 10, 2003
Category: Customer Dispute
Allegations: CLIENTS ALLEGE A 2000 ISSUE VARIABLE LIFE INSURANCE POLICY WAS NOT PROPERLY SOLD. CLIENTS ALLEGE THE POLICY WAS SOLD AS AN INVESTMENT TOOL TO FUND THEIR DAUGHTERS COLLEGE EDUCATION. DAMAGES ARE UNSPECIFIED.
Broker Comment: EQUITABLE FOUND NO BASIS TO REFUND THE PREMIUMS PAID.

Date: October 01, 2002
Category: Customer Dispute
Allegations: APPROXIMATELY JULY 2001, I MET WITH CLIENTS TO REVIEW SIMPLE IRA ACCOUNTS. MOVED EXISTING DOLLARS IN ACCOUNT TO GUARANTEED INTEREST ACCOUNT BUT DID NOT CHANGE FUTURE ALLOCATIONS AFTER DISCUSSING THE ADVANTAGES OF DOLLAR COST AVERAGING. PAPERWORK WAS SENT TO THEIR HOME TO FACILITATE CHANGE, WHICH THEY SIGNED AND FORWARDED TO AXA. CONFIRMATIONS WERE GENERATED TO CONFIRM REQUESTS. CLIENTS RECEIVED CONFIRMATIONS OF ALL TRANSACTIONS AND QUARTERLY ACCOUNT STATEMENTS. ON 9/30/2002, THE QUARTERLY STATEMENT WAS GENERATED AFTER THE WORST QUARTER IN 15 YEARS. CLIENTS MADE A WRITTEN COMPLAINT BECAUSE FUTURE CONTRIBUTIONS WENT INTO ORIGINAL ALLOCATION ACCOUNTS AND LOST VALUE.
Broker Comment: AXA ADVISORS DENIED THE ALLEGATIONS ON THE GROUNDS THAT THERE WAS NO BASIS FOR THE CLAIM.

More Information

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