Joseph S. Gibson is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 711 N NEW BALLAS RD, CREVE COEUR, MO, 63141.
Joseph S. Gibson has worked at EDWARD JONES since October 15, 1996
Disclosure History
Joseph S. Gibson has 3 Disclosure Event(s).
Date: August 07, 2002 Category: Customer Dispute Allegations: CLIENTS CLAIM THEY REQUESTED THE ASSISTANCE OF JOE GIBSON, IR, REGARDING THE DECLINE IN VALUE OF THEIR ACCOUNT, SPECIFICALLY THEIR ANNUITY, AND WERE NEVER GIVEN OPTIONS TO STOP THE DECLINE. CLIENTS CLAIM WHEN THEY CALLED THE ANNUITY COMPANY THEY WERE INFORMED OF AN OPTION TO MOVE FUNDS INTO A FIXED ACCOUNT WHICH WAS NEVER CONVEYED TO THEM PREVIOUSLY AS AN OPTION. CLIENT ALSO CLAIMS THEY REQUESTED THE IR SELL THEIR TECH STOCK, HOWEVER, IR REFUSED TO DO SO WHICH RESULTED IN AN APPROX. $6100 LOSS. CLIENT IS REQUESTING REIMBURSEMENT FOR LOSSES ASSOCIATED WITH THE ONE ANNUITY AND THE SELL OF THEIR TECH STOCK. Damage Amount Requested: $5,000.00 Broker Comment: RECORDS INDICATE IR WAS IN CONTACT WITH CLIENTS REGARDING ACCOUNT ON A REGULAR BASIS. IR STATED IN NOVEMBER 2000 HE WAS DIRECTED TO SELL EVERYTHING IN ACCOUNT. IR STATED HE REVIEWED INVESTMENTS INCLUDING THE VANKAMPEN TECHNOLOGY FUND AND ADVISED THE FUND COULD BE SOLD, EXCHANGED TO ANOTHER FUND OR HELD. AT CONCLUSION OF CONVERSATION, IR STATED HE WAS DIRECTED TO SELL AT&T AND HOLD EVERYTHING ELSE. IN APRIL 2002, IR STATED, ON CLIENTS AUTHORIZATION, BANK OF AMERICA WAS LIQUIDATED AND VANKAMPEN TECH FUND WAS EXCHANGED TO EMERGING GROWTH FUND. IR STATED HE INFORMED CLIENTS THE LOSSES ASSOCIATED WITH THE VANKAMPEN EXCHANGE SELL COULD POTENTIALLY BE UTILIZED TO OFFSET THE GAIN ON THE BANK OF AMERICA SELL. JUNE 2002 IR STATED CLIENTS REQUESTED HE LIQUIDATE ALL OF THE ANNUITIES. ACCORDING TO IR HE DID ADVISE CLIENTS LIQUIDATING ALL OF THE ANNUITIES WOULD BE TOO EXPENSIVE IN LIGHT OF THE FACT CLIENTS WOULD LOSE THE DEATH BENEFIT AND PAY A SURRENDER FEE. HE STATED HE RECOMMENDED CLIENTS KEEP THE ANNUITY SUBACCOUNTS INVESTED AS THEY WERE BUT DID INFORM CLIENTS THERE WERE OTHER OPTIONS LIKE A MONEY MARKET AMONG THE SUBACCOUNTS. IR STATED HE RECOMMENDED CLIENTS TAKE FROM ALL THE ANNUITIES (TO INCLUDE HER ANNUITY) THE MAXIMUM AMOUNT WITHOUT INCURRING A SURRENDER PENALTY AND CLIENTS AGREED WITH THIS RECOMMENDATION. APPEARS IR DID ADVISE CLIENTS OF VARIOUS OPTIONS AVAILABLE REGARDING THEIR STOCKS, MUTUAL FUND AND ANNUITIES. APPEARS THE ACTIVITY IN THE ACCOUNT WAS THE RESULT OF DISCUSSIONS WITH IR AND WAS EXECUTED WITH CLIENTS' AUTHORIZATION. CLAIM DENIED
Date: November 01, 2000 Category: Customer Dispute Allegations: THE CLIENT PURCHASED APPROXIMATELY $80,000 OF MUNI BONDS IN JUNE OF 1999. THE CLIENT STATES MR. GIBSON INFORMED HER THESE BONDS WERE TOTALLY FEDERAL AND STATE TAX FREE. THE CLIENT STATES MR. GIBSON FAILED TO CHECK THE EFFECT THESE BONDS WOULD HAVE ON SOMEONE WHO WAS ON SOCIAL SECURITY. THE CLIENT STATES MR. GIBSON DID NOT INFORM HER OF THE IRS REQUIREMENT THAT IF YOU EARN MORE THAN $25,000 YOU MAY BE TAXED ON THE INTEREST. THE BONDS ARE DOWN APPROXIMATELY $6,000.THE CLIENT HAS SUBMITTED A SECOND LETTER DATED 11/1/00 REGARDING THE SAME ISSUES. WE OFFERED TO LIQUIDATE 5 MUNI BONDS HELD IN HER ACCOUNT AND RETURN THE FULL AMOUNT OF PRINCIPAL PLUS ACCRUED INTEREST ON THE BONDS. ON 11/27/00 THE CLIENT ACCEPTED THE OFFER AND THE LOSS TO THE FIRM WAS $3,527.50 Damage Amount Requested: $6,000.00 Settlement Amount: $3,527.50 Broker Comment: THE CLIENT HAS SUBMITTED A SECOND LETTER DATED 11/1/00. WE OFFERED TO LIQUIDATE 5 MUNI BONDS HELD IN HER ACCOUNTAND RETURN THE FULL AMOUNT OF PRINCIPAL PLUS ACCRUED INTEREST ON THE BONDS. ON 11/27/00 THE CLIENT ACCEPTED THE OFFER AND THE LOSS TO THE FIRM WAS $3,527.50
Date: April 07, 2000 Category: Customer Dispute Allegations: THE CLIENT PURCHASED APPROXIMATELY $80,000 OF MUNI BONDS IN JUNE OF 1999. THE CLIENT STATES MR. GIBSON INFORMED HER THESE BONDS WERE TOTALLY FEDERAL AND STATE TAX FREE. THE CLIENT STATES MR. GIBSON FAILED TO CHECK THE EFFECT THESE BONDS WOULD HAVE ON SOMEONE WHO WAS ON SOCIAL SECURITY. THE CLIENT STATES MR. GIBSON DID NOT INFORM HER OF THE IRS REQUIREMENT THAT IF YOU EARN MORE THAN $25,000 YOU MAY BE TAXED ON THE INTEREST. THE BONDS ARE DOWN APPROXIMATELY $6,000. Damage Amount Requested: $6,000.00 Broker Comment: THE CUSTOMER WAS ADVISED THAT THE IR CLAIMS THE CUSTOMER INDICATED HER ANNUAL INCOME WAS $20,000.00 WHEN THE DISCUSSIONS ABOUT THE BONDS TOOK PLACE. THE IR SAID HE HAD ORIGINALLY RECOMMENDED CORPORATE BONDS BUT THE CUSTOMER WANTED TAX FREE BONDS. THE CUSTOMER WAS CONCERNED ABOUT TAXES BUT THE IR HAD NO REASON TO BELIEVE THAT WOULD BE A PROBLEM IF THE CUSTOMER'S ANNUAL INCOME WAS $20,000.00 BEFORE RECEIVING THE BOND INTEREST. MUNICIPAL INTEREST INCOME DOES NOT RESULT IN TAXES BEING CHARGED AGAINST A CUSTOMER'S SOCIAL SECURITY INCOME UNLESS THE CUSTOMER RECEIVES OVER $25,000.00 IN INCOME. OUR POSITION IS THE IR FOLLOWED THE CUSTOMER'S INSTRUCTIONS AND ACTED APPROPRIATELY GIVEN THE INFORMATION PROVIDED TO HIM BY THE CUSTOMER. CLAIM DENIED.
More Information
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for Joseph S. Gibson, click here.
The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.
×
Outdated Information
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
×
BrokerSearch Removal
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.