JONATHAN M RUSSO is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 20 NORTH MAIN STREET, PEARL RIVER, NY, 10965.
JONATHAN M RUSSO has worked at LPL FINANCIAL LLC since May 09, 2008
Disclosure History
JONATHAN M RUSSO has 1 Disclosure Event(s).
Date: July 31, 2008 Category: Customer Dispute Allegations: COLORADO STATE RESIDENT STATES IN WRITING HER FORMER FA SOLD STOCKS IN HER ACCOUNT WITHOUT CONSULTING HER OR DISCUSSING THE TAX LIABILITY WITH HER. CUSTOMER STATES FA'S SALE OF STOCKS WITHOUT DETERMINING THEIR COST BASIS CAUSED HER TO SUSTAIN A TAX LIABILITY OF $71,000. (01/01/07 - 12/31/07). Damage Amount Requested: $71,000.00 Broker Comment: THE CUSTOMER SIGNED MANAGED ACCOUNT AGREEMENTS STATING THAT ASSETS TRANSFERRED IN WOULD BE LIQUIDATED AND THE LIQUIDATION OF SUCH ASSETS MAY TRIGGER A TAXABLE EVENT. THE AGREEMENT ADVISED THE CUSTOMER TO SEEK TAX ADVICE. THE CUSTOMER WAS ADVISED AND SIGNED ACCOUNT DOCUMENTS STATING THE ACCOUNT WOULD BE A MANAGED ACCOUNT AND THAT ASSETS WOIULD BE BOUGHT AND SOLD IN THE ACCOUNT. THE COMPLAINT IS DENIED.
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