JAMES THOMAS GREENWELL is currently employed as a Broker and/or Investment Adviser at HORNOR, TOWNSEND & KENT, INC. located at 5607 GLENRIDGE DRIVE SUITE 750, SUITE 300, ATLANTA, GA, 30342.
JAMES THOMAS GREENWELL has worked at HORNOR, TOWNSEND & KENT, INC. since January 17, 2003
Disclosure History
JAMES THOMAS GREENWELL has 1 Disclosure Event(s).
Date: May 08, 2004 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT HE ACCEPTED HIS REPRESENTATIVE'S ADVICE AND ELECTED TO TAKE A REDUCED PAID-UP POLICY AND PURCHASE A VARIABLE UNIVERSAL LIFE POLICY AND ALLOW A LOAN FROM HIS CIGNA POLICY OF $44,027.00 TO BE USED TO INITIATE THE FUNDING OF THE NEW VARIABLE UNIVERSAL LIFE POLICY. CLIENT ALLEGES HE WAS ASSURED THAT LINCOLN DID NOT CONSIDER THIS A TAXABLE EVENT(AND WOULD NOT ISSUE A 1099, IF HE ELECTED A REDUCED PAID-UP-POLICY). AS A RESULT OF THESE ACTIONS, IT IS ESTIMATED THAT THE CLIENT WILL BE ASSESSED WITH TAXABLE GAINS IN AN AMOUNT IN EXCESS OF $67,000. CLIENT EXPLICITLY CLAIMS DAMAGES OF $27,800. IMPLICITLY, CLIENT REQUESTS HE BE PAID THE CURRENT GROSS CASH VALUE OF THE VARIABLE UNIVERSAL LIFE POLICY SUBJECT TO NO SURRENDER CHARGES OR THE TOTAL OF THE PREMIUMS PAID INTO THE POLICY, WHICHEVER IS GREATER. THE FIRM IS UNABLE TO DETERMINE THIS IMPLICIT AMOUNT AT THIS TIME. Damage Amount Requested: $27,800.00
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