Kevin C. Haarberg is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 173 COURT STREET, WOODLAND, CA, 95695.
Kevin C. Haarberg has worked at EDWARD JONES since June 20, 1984
Disclosure History
Kevin C. Haarberg has 2 Disclosure Event(s).
Date: April 16, 2003 Category: Customer Dispute Allegations: CLIENTS STATE THAT AROUND SEPTEMBER 2000, ACCOUNT VALUE BEGAN TO DROP, BUT IR ASSURED THEM THAT THEY SHOULD HOLD ONTO THEIR INVESTMENTS. CLIENTS ALLEGE THAT ON SEPTEMBER 11, 2001, THEY MET WITH IR TO DISCUSS STOPPING THEIR LOSSES. THEY CLAIM THEY ASKED THAT IR PUT STOP LOSS ORDERS ON THEIR INVESTMENTS, BUT IR TOLD THEM THAT WAS ONLY DONE FOR DAY TRADERS. CLIENTS STATE THAT THIS INACTION ON PART OF IR CAUSED THE ACCOUNT TO DROP BY APPROXIMATELY $168,584 SINCE AUGUST OF 2000. CLIENTS ALSO CLAIM THE ACCOUNT HAS BEEN MISMANGED AND UNSUITABLY TRADED GIVEN THEIR FINANCIAL SITUATION AND STATUS. Damage Amount Requested: $168,584.00 Broker Comment: IR STATED THAT HE EXPLAINED TO THE CLIENTS THAT USING STYSTEMATIC WITHDRAWAL FROM MUTUAL FUNDS WAS COULD BE AN OPTION FOR PAYING OFF THEIR PURCHASE IF THE AMOUNT OF WITHDRAWAL IS REASONABLE. IR SUGGESTED AMERICAN FUNDS IF THE CLIENTS WERE INTERESTED IN DOING THIS AND THEY WERE PROVIDED WITH A PROSPECTUS AND HISTORICAL INFO SHOWING HOW THE SYSTEMATIC W/D WORKS. IR STATED THAT HE DID NOT TELL CLIENTS THAT STOP LOSS ORDERS WERE ONLY AVAIABLE FOR DAY TRADERS. DID EXPLAIN, HOWEVER, THAT JONES BELIEVES IN LONG TERM APPROACH TO INVESTING AND THIS TYPE OF TRADING DOES NOT FIT THE JONES APPROACH TO REACHING LONG TERM GOALS. INVESTMENTS DID APPEAR UNSUITABLE. IR STATED THAT CLIENT DID COME TO HIM WITH INVESTMENTS THAT IR DID NOT MENTION SO CLIENT WAS EDUCATING HIMSELF REGARDING INVESTMENTS. IR ALSO STATED THAT HE HAD A PORTFOLIO REVIEW IN 9/0 AND MENTIONED TO CLIENT THAT THEY WERE HEAVILY WEIGHTED IN AGGRESSIVE INVESTMENTS. CLIENTS DID NOT MAKE ANY CHANGES AT THAT TIME. CLAIM DENIED
Date: March 01, 2000 Category: Customer Dispute Allegations: THE CLIENT STATES ON 2/18/00, BEFORE THE OPENING, THEY LEFT A MESSAGE FOR MR. HAARBERG TO PURCHASED 600 SHARES OF CYRD. THE CLIENT STATES MR. HAARBERG CALLED HER LATER IN THE DAY WITH A CURRENT QUOTE AND INFORMED HER HE COULD NOT FOLLOW THE STOCK, AT WHICH TIME, SHE INSTRUCTED HIM TO MAKE THE PURCHASE AT THE MARKET. THE CLIENT STATES THE IR LATER INFORMED HER THAT HE HAD PUT THE ORDER IN TO FILL AT 7 1/4 AND IT DID NOT FILL. THE CLIENT STATES THE STOCK HAD INCREASED TO $17 1/4 AND THEY HAD LOST PROFITS IN EXCESS OF $6,000. Damage Amount Requested: $6,000.00 Broker Comment: THE CUSTOMER WAS ADVISED THAT THE IR CLAIMS HE DISCUSSED THE ORDER WITH THE CUSTOMER AND INDICATED HE WOULD OBTAIN A CURRENT PRICE FOR THE STOCK. THE PRICE WAS 7 1/4 AND THE IR CLAIMS WHEN HE CONTACTED THE CUSTOMER HE ASKED IF SHE WANTED HIM TO PLACE AN ORDER AT THAT PRICE. HE CLAIMS THE CUSTOMER AGREED THE ORDER SHOULD BE PLACED AT 7 1/4 AND SHE DID NOT TELL HIM TO PLACE A MARKET ORDER. THE IR INDICATED A MARKET ORDER WAS NOT PLACED SO THEY COULD AVOID THE ORDER FILLING AT A MUCH HIGHER PRICE. OUR POSITION IS THE IR DID FOLLOW THE CUSTOMER'S INSTRUCTION WITH THE ORDER AND HER CLAIM IS DENIED.
More Information
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