JOSEPH IOANNIS KORONAKIS is currently employed as a Broker and/or Investment Adviser at PNC INVESTMENTS located at 588 NEWARK - POMPTON TURNPIKE, SUITE 4, POMPTON PLAINS, NJ, 07444.
JOSEPH IOANNIS KORONAKIS has worked at PNC INVESTMENTS since October 19, 2016
JOSEPH IOANNIS KORONAKIS has 1 Disclosure Event(s).
Date: May 28, 2009 Category: Customer Dispute Allegations: CLIENT CLAIMED THAT SHE OPENED HER BROKERAGE ACCOUNT WITH THE FS IN JULY 2007 AND DEPOSITED $150,000 INTO THE ACCOUNT. THE CLIENT FURTHER CLAIMED THAT SHE WITHDREW $32,000 FROM THE ACCOUNT IN AUGUST 2008. THE CLIENT CLAIMED THAT THE CURRENT VALUE OF HER ACCOUNT WAS $68,000 AND THAT REPRESENTED A LOSS OF OVER $50,000 IN A 20 MONTH PERIOD OF TIME. THE CLIENT CLAIMED THAT SHE TOLD THE FS THAT SHE DID NOT WANT TO LOSE HER PRINCIPAL. THE CLIENT CLAIMED THAT THE FS INVESTED HER MONEY IN A FRONT-LOADED GROWTH AND INCOME FUND WHICH RESULTED IN THE LOSS OF PRINCIPAL. THE CLIENT SEEKS TO BE COMPENSATED BASED UPON THE MISMANAGEMENT OF HER MONEY. THE CLIENT¿S ACCOUNT IS A CUSTOMCHOICE ACCOUNT. CUSTOMCHOICE IS A NON-DISCRETIONARY MUTUAL FUND WRAP PROGRAM WHERE THE CLIENT CAN INVEST INSTITUTIONAL SHARE CLASS, NO-LOAD AND LOAD-WAIVED MUTUAL FUNDS. THE CLIENT PURCHASED THREE MUTUAL FUNDS FOR HER ACCOUNT: 1) EATON VANCE NATIONAL MUNICIPALS FUND (EANAX); 2) NUVEEN HIGH YIELD MUNICIPAL BOND FUND (NHMAX); AND 3) OPPENHEIMER NEW JERSEY MUNICIPAL FUND (ONJAX). Damage Amount Requested: $50,000.00 Broker Comment: THE CLIENT WITHDREW HER COMPLAINT AGAINST THE FS AND THE FIRM VIA A LETTER THAT WAS RECEIVED BY THE FIRM ON MAY 29, 2009. CUSTOMER WAS ILL-ADVISED BY A THIRD PARTY TO WRITE THE COMPLAINT LETTER WHICH WAS LATER WITHDRAWN SINCE THE INVESTMENTS THAT WERE MADE FOR HER WERE CORRECT AND CONSISTENT WITH HER INVESTMENT OBJECTIVES AND RISK TOLERANCE. ALTHOUGH MY NAME WAS MENTIONED IN THE CLIENT'S COMPLAINT LETTER I AM NOT THE ONE WHO SOLD THE INVESTMENTS TO THE CLIENT. I REFERRED THE CLIENT TO A FINANCIAL ADVISOR WHO ASSISTED HER WITH THE INVESTMENTS IN QUESTION.
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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.
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