JOHN MARTIN KOOMAN is currently employed as a Broker and/or Investment Adviser at RAYMOND JAMES FINANCIAL SERVICES, INC. located at 517 S LOGAN BLVD, ALTOONA, PA, 16602.
JOHN MARTIN KOOMAN has worked at RAYMOND JAMES FINANCIAL SERVICES, INC. since May 20, 1991
Disclosure History
JOHN MARTIN KOOMAN has 1 Disclosure Event(s).
Date: October 04, 2005 Category: Customer Dispute Allegations: CLIENT IS CLAIMING UNSUITABLE INVESTMENTS AND LOSSES OF $275,000 DURING THE ACTIVITY DATES OF 6/5/01 TO 7/1/04. Damage Amount Requested: $275,000.00 Broker Comment: THE CLIENT STATED PRIMARY GOAL WAS GROWTH AND HIS SECONDARY GOAL WAS INCOME BOTH WITH MODERATE RISK. HE HAD NO QUALIFIED RETIREMENT ACCOUNTS WITH US. HIS INVESTMENTS WERE APPROPRIATE FOR HIS DOCUMENTED GOALS, TIME HORIZON AND RISK TOLERANCE. HIS INVESTMENTS DECLINED IN LINE WITH THE OVERALL MARKETS IN THE SPRING AND SUMMER OF 2002. HE DIVERTED FROM HIS ORIGINAL GOALS AND RISK TOLERANCE AND CHANGED HIS INVESTMENT OPTIONS IN AUGUST OF 2002. HE WAS FULLY AWARE OF ALL RISKS AND PENALTIES FOR EARLY WITHDRAWAL FROM DAY ONE AND WAS UNDER INFLUENCE OF LEGAL COUNSEL AND A FINANCIAL ADVISOR FROM A COMPETITIVE NASD MEMBER FIRM WHEN HE MADE THESE CHANGES. FROM JULY 6, 2001 THRU AUGUST 12, 2002 HIS OVERALL BALANCED ACCOUNT DECLINED 14% WHILE DURING THAT SAME PERIOD THE S&P 500 DECLINED 24%. THE THREE YEAR BEAR MARKET HIT ITS LOW IN OCTOBER OF 2002. HAD HE SIMPLY STAYED THE COURSE HE WOULD HAVE RECOVERED MOST IF NOT ALL OF HIS DEFICIT BY THIS TIME. AT NO TIME DID HIS LOSSES EXCEED $67,000.
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