JOHN LOUIS BEAUCHAMP is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 569 BROOKWOOD VLG, BIRMINGHAM, AL, 35209.
JOHN LOUIS BEAUCHAMP has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since December 04, 1978
Disclosure History
JOHN LOUIS BEAUCHAMP has 1 Disclosure Event(s).
Date: February 14, 1992 Category: Customer Dispute Allegations: CUSTOMERS CLAIMED THAT THE SPLIT FUND ANNUITYTHEY PURCHASED WAS REPRESENTED TO THEM AS A TAX FREEINVESTMENT. THEY REQUESTED REIMBURSEMENT OF $8,753.00 IN TAXESTHEY PAID. Damage Amount Requested: $8,753.00 Damages Granted: $7,352.00 Broker Comment: THE CLAIMANTS WERE AWARDED $7,352.00MERRILL LYNCH DEFENDED THIS ACTION BECAUSE THECLAIMANTS RECEIVED DOCUMENTATION DESCRIBING THIS INVESTMENT ASTAX-DEFERRED. THE CLAIMANTS ALSO TESTIFIED THAT THEY HADRECIEVED THIS DOCUMENT AND REVIEWED IT. THEY ALSO ADMITTED THATTHE BROKER HAD REVIEWED THIS DOCUMENT WITH THEM. SINCE THECLAIMANTS HAD OWNED AN ANNUITY, PREVIOUSLY, THEY WERE AWARETHAT INCOME EARNED IS TAXABLE. THE DECISION IS CLEARLY CONTRARYTO THE FACTS AS PRESENTED. THE BROKER WAS NOT ASKED TOCONTRIBUTE TO THE AWARD.
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