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KAREN RACHELLE HANSEN

KAREN RACHELLE HANSEN is currently employed as a Broker and/or Investment Adviser at WOODBURY FINANCIAL SERVICES, INC. located at 1600 A STREET #310, SUITE 209, ANCHORAGE, AK, 99501.

KAREN RACHELLE HANSEN has worked at WOODBURY FINANCIAL SERVICES, INC. since November 10, 2005

Disclosure History

KAREN RACHELLE HANSEN has 5 Disclosure Event(s).

Date: August 30, 2006
Category: Customer Dispute
Allegations: CLIENTS ALLEGE THAT THE PURCHASE OF A 2003 VL INSURANCE POLICY WAS NOT AFFORDABLE OR APPROPRIATE CONSIDERING THEIR CASH FLOW SITUATION. CLIENTS ARE REQUESTING TO WAIVE THE SURRENDER CHARGE AND HAVE THE OPTION TO RESTRUCTURE THE INSURANCE CONTRACT. DAMAGES ARE UNSPECIFIED.
Settlement Amount: $8,408.00
Broker Comment: CLIENT HAD A GROSS NET WORTH OF $2,300,221.00 AND NET NET WORTH OF $2,254,000.00 AND INCOME OF $100,000.00. MONEY TO PAY PREMIUM WAS IN TWO IRA MUTUAL FUND ACCOUNTS (ONE HIS AND ONE HIS WIFE'S) AND AN ANNUITY ($109,000.00). CLIENT 30 YEAR PLUS FEDERAL EMPLOYEE WITH GOOD RETIREMENT. PLANNING WAS PROVIDED INDEPTH FOR PREMIUM!

Date: April 18, 2006
Category: Customer Dispute
Allegations: CLIENT ALLEGES THAT THE AGENT INDUCED HIM TO REPLACE HIS WHOLE LIFE POLICY WITH A 2000 VARIABLE LIFE PRODUCT. CLIENT ALLEGES THE AGENT FAILED TO ACT IN HIS BEST INTERESTS & DID NOT FURNISH HIM WITH AN ILLUSTRATION OF HOW THE PRODUCT WOULD PERFORM. DAMAGES ARE UNSPECIFIED.
Broker Comment: I DID NOT INDUCE [CUSTOMER] TO REPLACE THIS WHOLE LIFE POLICY- IF MEMORY SERVES (AXA TOOK HIS FILE) HE WAS NOT HAPPY WITH LOAN- I GAVE HIM 3 CHOICES- 1) KEEP PAYING INTEREST 2)REPAY LOAN 3) CHANGE TO A NEW POLICY (ONE TIME 1099 TAX AMOUNT ONLY). HE LIKED #3 AND UTILIZED HIS NEW POLICY FOR BUSINESS PURPOSES. MY OFFICE CALLED [CUSTOMER] TO REVIEW HIS INVESTMENTS PERIODICALLY FOR 2 YEARS AND HE NEVER RESPONDED. HE ALSO HAD TO SIGN AN ILLUSTRATION IN ORDER TO RECEIVE THE NEW POLICY!

Date: October 29, 2003
Category: Customer Dispute
Allegations: CLIENT ALLEGES MISREPRESENTATION REGARDING A VARIABLE UNIVERSAL LIFE INSURANCE POLICY. DAMAGES ARE NOT SPECIFIED.

Date: March 14, 2001
Category: Customer Dispute
Allegations: ALLEGED INAPPROPRIATE RECOMMENDATIONS - CLIENT NET WORTH INACCURATE PURCHASES ON ASSET ALLOCATION.
Settlement Amount: $27,500.00

Date: April 28, 2000
Category: Regulatory
Initiated By: STATE OF ALASKA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT
Allegations: THE STATE OF ALASKA'S DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT OPENED UP AN INQUIRY TO DETERMINE IF KAREN HENSON WAS PROPERLY REGISTERED TO ADVERTISE HERSELF AS A REGISTERED INVESTMENT ADVISER.
Resolution: Consent
Sanctions: PAY THE $1,000 FINE AND RETAKE THE SERIES 63 EXAM. Sanction Details: KAREN HANSEN PAID $1,000 AND RETOOK SERIES 63 WITHIN 6 MONTHS AND 15 HOURS OF ADDITIONAL TRAINING - SPECIFIC EMPHASIS ON ADVERTISING AND INVESTMENT ADVICE.

More Information

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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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