Frank S. Roccaforte is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 500 HUEY P LONG AVENUE, GRETNA, LA, 70053.
Frank S. Roccaforte has worked at EDWARD JONES since October 03, 1996
Frank S. Roccaforte has 2 Disclosure Event(s).
Date: November 06, 2002 Category: Customer Dispute Allegations: THE CLIENT STATES HE APPROACHED THE IR IN 2000 AND 2001 TO HELP PROTECT HIS INVESTMENT, HELD AT HARTFORD, WHILE THE MARKET DECLINED AND THE IR RECOMMENDED SUB-ACCOUNT RE-ALLOCATIONS. THE CLIENT CLAIMS HE COULD HAVE SAVED HIS LOSSES IF HE HAD DONE AN IRA ROLLOVER FROM THE ANNUITY. THE CLIENT STATES THIS LOSS COULD HAVE BEEN AVOIDED IF THE IR HAD NOT RECEIVED ERRONEOUS INFORMATION FROM HARTFORD.CLAIM IS $14,000. Damage Amount Requested: $14,000.00 Broker Comment: THE IR STATED HE WAS UNDER THE ASSUMPTION THE ANNUITY WAS NON-QUALIFIED PER INFORMATION FROM HARTFORD. HARTFORD INFORMED THE IR THE ANNUITY WAS AN IRA AFTER HE APPROACHED HARTFORD WITH THE ORIGINAL ANNUITY PAPERWORK. THE IR HAD COUNSELED THE CLIENT HE WOULD BE SUBJECT TO 30% TAX CONSEQUENCES IF HE LIQUIDATED THE ANNUITY SO THE CLIENT REMAINED IN THE ANNUITY AND SWITCHED SUB-ACCOUNTS TO BE MORE CONSERVATIVE. IN THE END, THE CLIENT LIQUIDATED THE ANNUITY WHEN HARTFORD CHANGED THE CHARACTERIZATION OF THE ANNUITY. THE CLIENT COULD HAVE SELECTED THE FIXED ACCOUNT OR 100% BONDS IN THE SUB-ACCOUNTS TO LIMIT HIS LOSSES, BUT DID NOT.
Date: March 24, 1978 Category: Criminal Charges: SHOPLIFTING, LESS THAN $25 Disposition: AMOUNT OF FINE & COURT COST $80.50 Broker Comment: Not Provided
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