JOHN BOONE KINCAID is currently employed as a Broker and/or Investment Adviser at CETERA ADVISORS LLC located at 6486 HIGHWAY 179 STE. 111, SEDONA, AZ, 86351.
JOHN BOONE KINCAID has worked at CETERA ADVISORS LLC since July 18, 2007
JOHN BOONE KINCAID has 2 Disclosure Event(s).
Date: June 09, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGE MR. KINCAID WAS NOT FORTHRIGHT IN SELLING THE CLIENTS SECURITIES THAT WERE UNSUITABLE FOR THEIR AGES, FINANCIAL SITUATION, INVESTMENT OBJECTIVE AND INVESTMENT EXPERIENCE. Damage Amount Requested: $50,000.00 Broker Comment: THE CIRCUMSTANCES LEADING TO THE ALLEGED UNSUITABLE RECOMMENDATIONS ARE DIRECTLY TIED TO THE DROP IN THE STOCK MARKET OVER THE PAST 6 MONTHS RESULTING IN A DECREASE IN THE [CUSTOMERS'] PORTFOLIO ACCORDINGLY. THE RECOMMENDATIONS I MADE WERE BASED ON THE CLIENT'S PREVIOUS INVESTMENT EXPERIENCE, FINANCIAL OBJECTIVES, TIME HORIZON AND INCOME NEEDS TAKING INTO ACCOUNT ALL FACTORS INCLUDING, BUT, NOT LIMITED TO, THEIR AGE, NET WORTH AND RISK TOLERANCE. THIS INFORMATION WAS PROVIDED TO ME DIRECTLY BY THE CLIENT AND ACKNOWLEDGED BY THE CLIENT IN WRITING ON ALL NEW ACCOUNT FORMS AND DISCLOSURE DOCUMENTS.
Date: September 19, 2007 Category: Customer Dispute Allegations: CLIENT ALLEGES UNAUTHORIZED TRANSACTION AND TRANSFER OF ACCOUNT PROBLEM. Damage Amount Requested: $20,208.00 Broker Comment: THE [CUSTOMERS], THROUGH THE ASSISTANCE OF ANOTHER BROKER, SENT DIRECTLY TO PERSHING (THE CUSTODIAN OF THEIR IRA'S HELD WITH ME) A SIGNED AMERICAN FUNDS AUTHORIZATION FORM TO LIQUIDATE AND TRANSFER THE SHARES OF THE NON-TRADED REIT (DIVIDENT CAPITAL TRUST, INC.) HELD IN THEIR IRA'S. THIS FORM WAS RECEIVED BY PERSHING WITHIN THE FIRST YEAR OF THE REIT PURCHASE AND, PER THE REIT PROSPECTUS; THE SHARES COULD NOT BE REDEEMED UNTIL A 1 YEAR HOLDING PERIOD HAD EXPIRED. SEVERAL MONTHS LATER, AFTER THE 1 YEAR HOLDING PERIOD WAS UP, THE SHARES WERE REDEEMED PER THE SIGNED AMERICAN FUNDS AUTHORIZATION FORM FOR LIQUIDATION. I DID NOT PLACE THE ORDER TO SELL/LIQUIDATE THE SHARES AS THIS COULD ONLY BE DONE IN WRITING BY THE CLIENT; THEREFORE WAS NO UNAUTHORIZED TRANSACTION.
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