GUY EDWARD FANELLI is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 7639 BROOKFIELD ROAD, CHELTENHAM, PA, 19012.
GUY EDWARD FANELLI has worked at LPL FINANCIAL LLC since September 23, 2010
Disclosure History
GUY EDWARD FANELLI has 1 Disclosure Event(s).
Date: August 25, 2006 Category: Customer Dispute Allegations: ALLEGED VIOLATION OF PENNSYLVANIA UNFAIR TRADE PRACTICES AND CONSUMER PROTECTION LAW; BREACH OF FIDUCIARY DUTIES; FRAUD; NEGLIGENCE; VIOLATION OF PENNSYLVANIA SECURITIES ACT OF 1972. FURTHER ALLEGED THAT PURCHASES WERE STRUCTURED IN A WAY THAT FINANCIAL CONSULTANT WOULD MAINTAIN FINANCIAL MANAGEMENT BY KNOWINGLY, INTENTIONALLY AND FRAUDULENTLY CAUSING THE OWNERSHIP OF SUCH FUNDS TO BE IN JOINT REGISTRATION WITH THE CLIENT'S HUSBAND. (PURCHASES MADE BETWEEN MARCH '04 AND MAY' 04) **FINANCIAL CONSULTANT DENIES ALL LIABILITY FOR ANY ALLEGED INTENTIONAL OR NEGLIGENT CONDUCT. FINANCIAL CONSULTANT DENIES CAUSING THE CLIENT'S FUNDS TO BE IN JOINT OWNERSHIP WITH THE CLIENT'S HUSBAND TO MAINTAIN FINANCIAL MANAGEMENT OVER THESE FUNDS OR FOR ANY OTHER IMPROPER PURPOSE. POA SPECIFICALLY AUTHORIZED AGENT TO MAKE GIFTS OF ASSETS IN PRINCIPAL'S ESTATE TO SPOUSE/POA AGENT FOR TAX PURPOSES OF INHERITANCE AND ESTATE TAX PLANNING. FINANCIAL CONSULTANT WAS FOLLOWING INSTRUCTIONS GIVEN BY THE CLIENT'S POA AGENT/CLIENT'S HUSBAND WHO PROVIDED FINANCIAL CONSULTANT WITH INACCURATE INFORMATION REGARDING PRINCIPAL'S ESTATE PLANNING/WILL. FINANCIAL CONSULTANT DID NOT FINANCIALLY PROFIT FROM THE MANNER IN WHICH THE ASSETS WERE TITLED. Damage Amount Requested: $44,353.00 Settlement Amount: $44,353.90 Broker Comment: A.G. EDWARDS & SONS WAS RECENTLY ADVISED BY THE LOCAL PENNSYLVANIA COUNSEL THAT, ALTHOUGH A FORMAL COMPLAINT HAS NOT BEEN FILED IN COURT TO DATE, AND A.G. EDWARDS HAS ONLY RECEIVED A DRAFT COMPLAINT AGAINST FINANCIAL CONSULTANT AND A.G. EDWARDS, THIS MATTER IS CONSIDERED TO BE A PENDING CIVIL LITIGATION BY THE PA COURT OF COMMON PLEAS AS OF THE DATE THE WRIT OF SUMMONS WHICH TOLLED THE STATUTE OF LIMITATIONS WAS FILED IN COURT. ***FINANCIAL CONSULTANT AGREED TO SETTLE THIS MATTER SOLELY TO AVOID THE COST OF LITIGATION.***
More Information
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