Eugene Curtis Wipf is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 19230 EVANS ST NW SUITE 205, ELK RIVER, MN, 55330.
Eugene Curtis Wipf has worked at EDWARD JONES since January 21, 1987
Disclosure History
Eugene Curtis Wipf has 2 Disclosure Event(s).
Date: March 27, 2009 Category: Customer Dispute Allegations: 06/2008-10/2008; THE CLIENT STATES HE INFORMED THE FA HE WANTED TO PROTECT HIS PRINCIPLE WHEN THEY FIRST MET. THE CLIENT STATES HE CONTACTED THE FA SEVERAL TIMES REGARDING THE VALUE OF HIS ACCOUNT. HE STATES EACH TIME THE FA WOULD TELL HIM THINGS WERE FINE. THE CLIENT STATES HE ASKED THE FA ABOUT AN ANNUITY; THE CLIENT STATES HE WAS INFORMED THE FA WOULD NOT SELL AN ANNUITY TO HIM. THE CLIENT STATES HE RECEIVED FLYERS FROM THE FIRM ABOUT ANNUITIES. THE CLIENT STATES THE FA DID NOT LISTEN TO HIS NEEDS AND ONLY INVESTED THE WAY THE FA WANTED. THE CLIENT WANTS COMPENSATION. Damage Amount Requested: $5,000.00 Broker Comment: THE FA STATES THAT IN THE INITIAL REVIEW WITH HIM, THE CLIENT DID NOT STATE THAT PROTECTION OF PRINCIPAL WAS A PRIMARY GOAL. INSTEAD, HE CONSIDERED SOME OF THE INVESTMENTS IN THE PORTFOLIO WERE RISKIER THAN THE CLIENT SHOULD CARRY, AND HE MADE SOME CHANGES INTO SOME OF THE AMERICAN FUNDS, WHICH HAVE A LONG-PROVEN, STEADY TRACK RECORD. OTHER SECURITIES TRANSFERRED IN AND WERE REVIEWED WITH HIM, BUT HIS ADVICE WAS TO HOLD ON TO THEM. SINCE THERE WAS NO ACTIVITY IN THE ACCOUNT IN AUGUST, NO STATEMENT WAS PRODUCED. IN OCTOBER 2008, THE FA SAYS THE CLIENT CALLED AND DISCUSSED ANNUITIES, IN PARTICULAR EQUITY INDEXED ANNUITIES. OUR FIRM DOES NOT OFFER THIS TYPE OF ANNUITY; HOWEVER, WE OFFER OTHER TYPES OF ANNUITIES. THE FA STATES HE RECEIVED A CALL FROM HIM ON OCTOBER 13, 2008; HE REQUESTED THAT ALL THE SECURITIES BE SOLD AND DEPOSITED INTO THE MONEY MARKET. ON OCTOBER 14, 2008, HIS OFFICE RECEIVED A REQUEST TO WIRE $25,000 FROM THE MONEY MARKET ACCOUNT. WHILE THE ACCOUNT VALUE HAD DECREASED, THERE IS NO EVIDENCE OF IMPROPRIETY IN THE RECOMMENDATIONS MADE BY THE FA, NOR CAN EDWARD JONES PREDICT WHAT WILL HAPPEN IN THE MARKET. THE SECURITIES THE FA SUGGESTED WERE OF HIGH-QUALITY AND HAVE HISTORICALLY PERFORMED WELL OVER THE LONG-TERM, AND WE BELIEVE WERE SUITABLE FOR THE CLIENT'S GOALS AT THE TIME OF RECOMMENDATION. THEREFORE, THE CLIENT'S REQUEST FOR RESTITUTION IS DECLINED.
Date: January 06, 2003 Category: Customer Dispute Allegations: ARBITRATION CASE DESCRIPTION: ALLEGATIONS OF VIOLATION OF SECURITIES EXCHANGE ACT (UNSUITABILITY), NEGLIGENCE, BREACH OF FIDUCIARY DUTY, RESPONDEAT SUPERIOR AND FAILURE TO SUPERVISE IN A DROP TO $473,000 FROM $600,000 IN SECURITIES PURCHASED THROUGH JONES. (AMOUNT CLAIMED: UNSPECIFIED COMPENSATORY DAMAGES AND PUNITIVE DAMAGES, ATTORNEYS' FEES, COSTS AND INTEREST) Damages Granted: $20,810.00 Broker Comment: AWARD OF $20,810, JOINTLY AND SEVERALLY, PLUS MINNESOTA INTEREST FROM DATE OF AWARD UNTIL PAID
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