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JOSEPH MARTIN LANDER

JOSEPH MARTIN LANDER is currently employed as a Broker and/or Investment Adviser at CEROS FINANCIAL SERVICES, INC. located at 100 GREAT MEADOW ROAD, SUITE 701, WETHERSFIELD, CT, 06109.

JOSEPH MARTIN LANDER has worked at CEROS FINANCIAL SERVICES, INC. since March 14, 2016

Disclosure History

JOSEPH MARTIN LANDER has 1 Disclosure Event(s).

Date: March 05, 2009
Category: Customer Dispute
Allegations: FLORIDA CLIENT CLAIMED THAT THE FA MET WITH HER AND HER SON AT HER HOME AND THAT HE SUGGESTED THAT SHE INVEST $100,000 IN A UNIT INVESTMENT TRUST (UIT) SIMILAR TO A UIT THAT SHE HAD PURCHASED THROUGH ANOTHER FA. THE CLIENT FURTHER CLAIMED THAT SHE TOLD THE FA THAT THERE WASN'T ENOUGH MONEY IN HER TRUST ACCOUNT TO PURCHASE THE UIT. THE CLIENT CLAIMED THAT SHE THOUGHT THAT SHE HAD LEFT IT WITH THE FA THAT SHE WOULD NOT BUY THE UIT. THE CLIENT CLAIMED THAT AFTER TRAVELING TO SPAIN FOR THREE WEEKS, SHE RETURNED HOME TO FIND THAT SHE HAD RECEIVED A TRADE CONFIRMATION THAT SHOWED THAT THE TRUST ACCOUNT BOUGHT UNITS OF THE FIRST TRUST STRATEGIC INCOME PLUS C/E PORTFOLIO SERIES 8 CASH UIT (THE FIRST TRUST UIT) FOR A NET AMOUNT OF $99,997.52 ON AUGUST 13, 2008. THE CLIENT FURTHER CLAIMED THAT IN DECEMBER 2008 SHE NEEDED FUNDS AND HAD TO SELL INVESTMENTS THAT WERE PAYING 8% ON WHICH SHE INCURRED A LOSS. THE CLIENT CLAIMED THAT IF THE FIRST TRUST UIT HAD NOT BEEN PURCHASED SHE WOULD NOT HAVE HAD TO SELL INVESTMENTS IN DECEMBER AND WOULD NOT HAVE INCURRED A LOSS. NO DAMAGES WERE REQUESTED. THE CLIENT HAS INCURRED AN UNREALIZED LOSS (INCLUSIVE OF DIVIDENDS EARNED) ON THE FIRST TRUST UIT INVESTMENT OF APPROXIMATELY $46,911.04.
Damage Amount Requested: $46,911.04
Broker Comment: THE FIRM DENIED THE COMPLAINT VIA A LETTER TO THE CLIENT DATED APRIL 3, 2009. BASED UPON THE FIRM'S REVIEW OF THE MATTER, IT WAS DETERMINED THAT THE CLIENT AUTHORIZED THE PURCHASE OF THE FIRST TRUST STRATEGIC INCOME PLUS C/E PORTFOLIO SERIES 8 CASH UIT ('THE FIRST TRUST UIT'). AT THE TIME THAT THE CLIENT PURCHASED THE FIRST TRUST UIT, THE CLIENT AND THE FA HAD SET-ASIDE SUFFICIENT MONIES TO MEET HER CURRENT CASH FLOW NEEDS. IN DECEMBER 2008, THE CLIENT DETERMINED THAT SHE NEEDED ADDITIONAL FUNDS AND SHE DECIDED TO LIQUIDATE, ON AN UNSOLICITED BASIS, HER INVESTMENT IN ANOTHER UIT THAT SHE HELD IN ONE OF HER TRUST ACCOUNTS.

More Information

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