JOHN SAVADJIAN is currently employed as a Broker and/or Investment Adviser at SAGEPOINT FINANCIAL, INC. located at 183 OLD TAPPAN RD, UNIT B, OLD TAPPAN, NJ, 07675.
JOHN SAVADJIAN has worked at SAGEPOINT FINANCIAL, INC. since November 15, 2013
Disclosure History
JOHN SAVADJIAN has 4 Disclosure Event(s).
Date: December 01, 2011 Category: Employment Separation After Allegations Firm Name: PRUCO SECURITIES, LLC. Termination Type: Discharged Allegations: REGISTERED REPRESENTATIVE SUBMITTED TRANSFER REPORT FORMS WITH SEVERAL NON-GENUINE CUSTOMER SIGNATURES IN ORDER TO HAVE THE FIRM DESIGNATE HIM AS THE NEW AGENT FOR MULTIPLE CUSTOMERS, AND REUSED, WITHOUT AUTHORIZATION, A FAX COVER SHEET THAT BORE HIS SUPERVISOR'S PRIOR APPROVAL OF SOME TRANSFERS TO INDICATE PRESENT APPROVAL OF ADDITIONAL TRANSFERS. ALLEGATIONS CONFIRMED. Broker Comment: I RESPONDED TO THE INQUIRY AT ONCE AND FINRA RESPONDED BACK TO ME IN A LETTER DATED 7/27/12 WHERE UPON REVIEW OF ALL THE ALLEGATION, FINRA ISSUED A CAUTIONARY ACTION CONCERNING NASD CONDUCT 2010 - RE-USING FACSIMILE COVER SHEETS THAT CONTAINED MY SUPERVISOR'S SIGNATURE IN ORDER TO HAVE ORPHANED ACCOUNTS TRANSFERRED OVER TO ME. I RESPONDED PROMPTLY ON 8/7/12 THAT I RECEIVED THE CAUTIONARY ACTION AND I THAT WILL ALWAYS MAKE SURE THAT ANY APPROVAL DOCUMENTS GIVEN TO ME BY A SUPERVISOR WILL BE DATED AS WELL AS INDICATE THE NUMBER OF PAGES OF ANY ATTACHMENTS. THIS WAS UNFORTUNATE MIX-UP WHERE NOTHING WAS DATED BY MY SUPERVISOR THEREBY CAUSING CONFUSION. THERE WAS ABSOLUTELY NO INTENTION ON MY PART TO USE ANY FAX COVER PAGES WITHOUT PROPER AUTHORIZATION.
Date: April 17, 2002 Category: Customer Dispute Allegations: REGARDING THE 1986 PURCHASE OF A VARIABLE APPRECIABLE LIFE INSURANCE POLICY, THE CLIENT ALLEGED MISREPRESENTATION CONCERNING THE POLICY BEING PAID UP IN 13 YEARS. THE INSURED DID NOT ALLEGE ANY SPECIFIED DAMAGES HOWEVER, THE COMPANY'S GOOD FAITH DETERMINATION ESTIMATED THEM TO BE APPROXIMATELY $6,962.37. Damage Amount Requested: $6,962.37 Settlement Amount: $17,114.54 Broker Comment: THIS CONCERNS A POLICY INCLUDED IN THE CLASS OF POLICIES THAT WAS THE SUBJECT OF A NATIONWIDE CLASS ACTION SETTLEMENT IN WHICH THE COMPANY WAS RELEASED CONCERNING LIFE INSURANCE SALES PRACTICES. THE POLICYHOLDER DID NOT MAKE A TIMELY CLAIM IN THE CLASS ACTION SETTLEMENT REMEDIATION PLAN. THIS INQUIRY WAS RECEIVED ON A QUESTIONNAIRE FORM SUPPLIED TO THE POLICYHOLDER BY THE COMPANY. THE COMPANY IS REVIEWING THIS INQUIRY WITHOUT WAIVER OF THE COMPANY'S RIGHTS UNDER THE CLASS ACTION SETTLEMENT AND RELEASE. THE COMPANY WILL FILE AN AMENDMENT TO DISCLOSE THE OUTCOME. THE COMPANY BY THIS FILING MAKES NO FINDINGS REGARDING THE ACTIONS OF THE REPRESENTATIVE.
Date: September 11, 1996 Category: Customer Dispute Allegations: THE CLIENT CONTACTED THE COMPANY WITHCONCERNS REGARDING THE NUMBER OF YEARS THAT HE HAD TO PAYPREMIUMS ON A VARIABLE APPRECIABLE LIVE (VAL) INSURANCE POLICYHE PURCHASED IN 1988. HE WAS UNHAPPY THAT THE ORIGINALPROJECTIONS OF VANISHING PREMIUMS DID NOT PERFORM AND HE HAD TOMAKE PAYMENTS FOR A LONGER PERIOD. NO COMP DAMAG Settlement Amount: $28,960.83 Broker Comment: THE COMPANY ADJUSTED THE COST OF THE POLCY SOTHAT NO FURTHER OUT OF POCKET PREMIUMS WILL BE REQUIRED(ESTIMATED SETTLEMENT COST: $28,960.83).THIS EVENT IS NO LONGER DISCLOSABLE BECAUSE ITWAS A VERBAL COMPLAINT.
Date: July 03, 1996 Category: Customer Dispute Allegations: THE CLIENT CONTACTED THE CO. WITH CONCERNSREGARDING THE FUNDING PROPOSAL OF A TRADITIONAL LIFE INSURANCEPOLICY HE PURCHASED IN 1988. BASED ON THE ORIGINAL DIVIDENDPROJECTIONS IN 1988 THE PREMIUMS WERE TO VANISH AFTER NINEYEARS. DUE TO DIVIDEND REDUCTIONS THE POLICY REQUIRES PAYMENTSFOR 14-15 YEARS. NO COMP DAMAGES ALLGD. Settlement Amount: $26,258.82 Broker Comment: THE COMPANY ADJUSTED THE COST OF THE POLICY SOTHAT NO FURTHER OUT OF POCKET PREMIUMS WILL BE REQUIRED(ESTIMATED COST OF SETTLEMENT: $26,258.82).THIS EVENT IS NO LONGER DISCLOSABLE BECAUSE ITWAS A VERBAL COMPLAINT.
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