JOSEPH DON MALBOEUF is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 1233 SHELBURNE RD #E3, SOUTH BURLINGTON, VT, 05403.
JOSEPH DON MALBOEUF has worked at LPL FINANCIAL LLC since June 01, 2018
Disclosure History
JOSEPH DON MALBOEUF has 1 Disclosure Event(s).
Date: March 10, 2009 Category: Customer Dispute Allegations: 6/08-3/09; CLIENT STATES FA HAD CONTACTED HER AND LEFT HER A MESSAGE ABOUT INVESTING. CLIENT STATES SHE TOLD THE FA SHE WASN'T INTERESTED AND FELT IT WAS TOO RISKY. CLIENT STATES FA CONTACTED HER AGAIN AND TOLD HER HE HAD A BOND PAYING 8.25% INTEREST THAT WAS GUARANTEED BY THE FEDERAL GOVERNMENT. CLIENT ALSO STATES FA TOLD HER SHE WOULD GET ALL OF HER MONEY BACK IN 2 1/2 YEARS. CLIENT STATES AFTER BEING ASSURED IT WAS A SAFE INVESTMENT, SHE INVESTED OVER $100,000. CLIENT STATES SHE RECENTLY LEARNED SHE PURCHASED A PREFERRED STOCK AND THAT IT IS NOT GUARANTEED BY THE FEDERAL GOVERNMENT. CLIENT STATES THIS INVESTMENT WAS BLATANTLY MISREPRESENTED TO HER. Damage Amount Requested: $5,000.00 Settlement Amount: $102,959.65 Broker Comment: A FANNIE MAE PREFERRED STOCK WAS PURCHASED IN THE ACCOUNT. THIS INFORMATION WAS PRESENT ON THE TRANSACTION CONFIRMATION SENT TO THE CLIENT'S HOME. THE HOLDING HAS BEEN LISTED ON THE CLIENT'S ACCOUNT STATEMENTS SINCE JUNE OF 2008. THE TYPE OF INVESTMENT WAS LISTED ON THE TRANSACTION CONFIRMATION AND ACCOUNT STATEMENT. THEREFORE, ALL OF THE PERTINENT INFORMATION OF THE PREFERRED STOCK PURCHASED IN THE ACCOUNT WAS REFLECTED IN THESE DOCUMENTS. IN ADDITION, IT IS OUR UNDERSTANDING THAT THE FA PROVIDED THE CLIENT A STANDARD AND POOR'S STOCK REPORT WHICH OUTLINED RISKS ASSOCIATED WITH THE PURCHASE OF A PREFERRED STOCK.*****AS A RESULT OF A REGULATORY INQUIRY FROM THE STATE OF VERMONT THE TRADES IN QUESTION WERE CANCELLED AND THE CLIENT WAS CREDITED WITH $7,573 IN INTEREST. THIS AMOUNT WAS PAID BY THE FIRM AND WAS NOT THE RESPONSIBILITY OF THE FINANCIAL ADVISOR.
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