HAYDEE M DELGADO is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INCORPORATED OF PUERTO RICO located at 250 MUNOZ RIVERA AVENUE, SAN JUAN, PR, 00918.
HAYDEE M DELGADO has worked at UBS FINANCIAL SERVICES INCORPORATED OF PUERTO RICO since October 12, 2007
Disclosure History
HAYDEE M DELGADO has 1 Disclosure Event(s).
Date: March 10, 2015 Category: Customer Dispute Allegations: TIME FRAME: UNSPECIFIED - 2013.CLAIMANT ALLEGES UNSUITABLE RECOMMENDATIONS AND MISREPRESENTATIONS INVOLVING CLOSED END FUNDS AND PR GOVERNMENT BONDS. Damage Amount Requested: $500,000.00 Broker Comment: I DENY THE ALLEGATIONS AS STATED AND BELIEVE THEM TO BE FALSE. THIS CLAIM IS BEING MADE BY AN EXECUTOR AND AN HEIR OF THE ESTATE AS THE CLIENT IS DECEASED. THE CLAIM SAYS THAT MY CLIENT'S MAIN OBJECTIVES WERE TO EARN CURRENT INCOME AND TO LEAVE AN INHERITANCE FOR HIS HEIRS. THAT IS A SIMPLIFICATION OF WHAT MY CLIENT STATED TO ME. MY CLIENT STATED THAT HE WANTED INVESTMENTS THAT WOULD PRODUCE INCOME AND PROTECT HIS ESTATE FROM BOTH INCOME TAX AND ESTATE TAXES. THE ONLY INVESTMENTS AVAILABLE TO THE CLIENT THAT WOULD PROVIDE THE SECURITY AND TAX EXEMPT STATUS REQUESTED BY THE CLIENT WERE THE PR MUNICIPAL BONDS AND THE PR CLOSED END FUNDS. I ADVISED THE CLIENT ABOUT THE RISKS ASSOCIATED WITH THESE INVESTMENTS AND MADE SUGGESTIONS REGARDING OTHER INVESTMENTS BUT AS THEY SUBJECTED THE CLIENT TO TAXES, HE REJECTED THEM. THE CLIENT APPROVED AND AGREED TO ALL THE INVESTMENTS PURCHASED FOR HIS ACCOUNT AND HE KNEW AND UNDERSTOOD THE RISK. IT WAS MORE IMPORTANT TO HIM TO HAVE INCOME AND PROTECT HIS TAX EXEMPT STATUS THEN ANY OTHER FACTOR. I OFFERED MY CLIENT THE INSTRUMENTS HE WANTED ACCORDING TO HIS NEEDS AND OBJECTIVES AND I BELIEVE MY CLIENT KNEW WHAT HE WANTED TO ACCOMPLISH WITH HIS MONEY. I THINK IT IS ALSO IMPORTANT TO STATE THAT MY CLIENT MADE A VAST SUM OF MONEY FROM 2008 - 2014 IN INCOME AND DIVIDENDS INVESTED IN THESE PRODUCTS. NO ONE COULD HAVE FORESEEN THE DOWNTURN IN THE PUERTO RICAN ECONOMY AND TO NOW MAKE THESE UNSUBSTANTIATED ALLEGATIONS AGAINST ME THAT ARE BASELESS AND FALSE, IS DISINGENUOUS . I INTEND TO DEFEND MYSELF AGAINST THESE ALLEGATIONS TO THE BEST OF MY ABILITY AND WILL SEEK ALL REMEDIES AFFORDED TO ME TO CLEAR MY NAME AND RECORD.
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