JOHN FRANCIS DAVENPORT is currently employed as a Broker and/or Investment Adviser at LIBERTY PARTNERS FINANCIAL SERVICES, LLC located at 800 Connecticut Ave, Suite E401, Norwalk, CT, 06854.
JOHN FRANCIS DAVENPORT has worked at LIBERTY PARTNERS FINANCIAL SERVICES, LLC since October 21, 2016
Disclosure History
JOHN FRANCIS DAVENPORT has 7 Disclosure Event(s).
Date: February 02, 2017 Category: Financial Type: Bankruptcy
Date: July 19, 2016 Category: Judgment / Lien Judgment/Lien Amount: $216,041.00 Judgment/Lien Type: Tax Broker Comment: This is a result of a tax error that dates back to 2006 when my accounting firm made a serious error on my Federal return. I am in final negotiations with the IRS to settle this matter.
Date: June 08, 2016 Category: Judgment / Lien Judgment/Lien Amount: $949,310.00 Judgment/Lien Type: Tax Broker Comment: Discovered by B/D when a credit report was pulled on 7/22/16. Per Rep: this resulted from an accountant error in 2006 that was not discovered until a year later. The total amount owed is still in question and under negotiation by legal representative. He was unaware of the lien being filed until July 5, 2016.
Date: February 02, 2012 Category: Customer Dispute Allegations: CLIENT ALLEGES REPRESENTATIVE GAVE POOR ADVISE WHEN HE SUGGESTED CLIENT MOVE HIS TRS ACCOUNT TO A VARIABLE ANNUITY IN 2007 Broker Comment: THE VARIABLE PRODUCT SOLD TO CLIENT DID EXACTLY WHAT T WAS SUPPOSE TO DO IN BAD MARKETS; IE, PROVIDE A GUARANTEED MINIMUM RETURN OF 7% ON ORIGINAL INVESTMENT WITH UNLIMITED UPSIDE POTENTIAL. HOWEVER, SINCE THE ACTUAL MARKETS WENT THROUGH ONE OF THE GREATEST DOWNTURNS IN MARKET HISTORY, THE CLIENT WAS UPSET THAT HIS MARKET VALUE (NOT GUARANTEED VALUE) WOULD HAVE BEEN MORE HAD HE STAYED IN A FIXED ACCOUNT EARNING A STATED RATE OF INTEREST RATHER THAN THE STOCK MARKET. EVERYTHING SEEMS BETTER WHEN VIEW IN HINDSIGHT. THE PRODUCT SOLD TO THE CLIENT SAVED THE CLIENT'S INVESTMENT FOR FUTURE INCOME DURING THE MARKET DOWN TURN AND DID EXACTLY WHAT WAS ADVERTISED.
Date: August 26, 2011 Category: Financial Type: SHORT SALE OF HOME Disposition: Satisfied/Released Broker Comment: SALE WAS PART OF DIVORCE SETTLEMENT SO THE PROPERTY NEEDED TO BE SOLD FOR LESS THAN THE PURCHASE.
Date: January 11, 2007 Category: Employment Separation After Allegations Firm Name: ROYAL ALLIANCE ASSOCIATES, INC. Termination Type: Discharged Allegations: SEE COMMENT SECTION Broker Comment: ROYAL AND I HAD THE SAME ATTORNEY. SINCE ROYAL WAS UNDERGOING A RIGOROUS SEC EXAMINATION, ROYAL FELT THIS ISSUE COULD COMPLICATE MATTERS AND ALTOUGH WE LEFT ON GREAT TERMS, THEY THOUGHT IT BEST FOR US TO CHANGE BROKER DEALERS.
Date: December 09, 2003 Category: Customer Dispute Allegations: CLIENT ALLEGES THEY WERE NOT INFORMED THAT CONTRIBUTIONS TO A CHARITABLE REMAINDER TRUST COULD NOT BE SUBSEQUENTLY WITHDRAWN AS A SINGLE SUM PAYMENT Damage Amount Requested: $15,000.00 Settlement Amount: $50,000.00 Broker Comment: CLIENT AND THEIR INVESTMENT BANKING SON-IN-LAW KNEW THEY COULDN'T WITHDRAW CRT PROCEEDS AS A LUMP-SUM. IT'S BASIC TO THE CONCEPT AND WAS DISCUSSED MANY TIMES. CONCEPT ACTUALLY SAVED CLIENT $40,000 OR MORE IN MKT VALUE. REASON FOR COMPLAINT WAS UNFOUNDED. THE CRT IS USED TO AVOID CAP GAIN TAX ON AN ASSET THAT THE CLIENT WOULD NEVER HAVE SOLD. THEREFORE, WHY WOULD THEY COMPLAIN, AFTER SAVING SUBSTANTIAL DOLLARS, THAT THEY COULDN'T GET A SINGLE-SUM PAYMENT WHEN THEY WOULD NOT HAVE SOLD THE ASSET IN ITS ENTIRETY DURING THEIR LIFETIME ANYWAY. IT DOESN'T MAKE ANY SENSE. THEY RECEIVED MORE BENEFIT, MORE INCOME, AND BECAUSE OF THE MARKET COLLAPSE, THE STRATEGY SAVED THEM IN EXCESS OF $40,000 IN MARKET VALUE. ANYONE CAN COMPLAIN BUT I REMAIN ADAMENT ABOUT THE SUBSTANCE OF OUR DISCUSSIONS AND THE FACT THAT THEY AND THEIR INVESTMENT BANKING SON-IN-LAW KNEW THAT THEY CRT ASSETS COULD NOT BE WITHDRAWN IN A SINGLE-SUM PAYMENT. TO THIS DAY, I STILL DON'T UNDERSTAND THE ORIGIN OF THIS COMPLAINT. UNFORTUNATELY IN TODAY'S ENVIRONMENT, LITIGATION IS RAMPANT AND ALOT OF IT UNJUSTIFIED. I BELIEVE THIS COMPLAINT FALLS WITHIN THAT CATEGORY AND I LOOK FORWARD TO ITS RESOLUTION IN MY FAVOR. I STAND BEHIND EVERY RECOMMENDATION THAT I MADE AND FULL DISCLOSURE WAS GIVEN TO THE CLIENT. I SIMPLY REGRET THAT OUR CONVERSATIONS WEREN'T TAPED BECAUSE IT WOULD CONCLUDE THIS MATTER QUICKLY. ***WITHOUT ADMITTING ANY WRONG DOING ON THE PART OF THE REPRESENTATIVE AND/OR FIRM, THE CASE WAS SETTLED TO AVOID FUTURE LITIGATION COSTS.****
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