Lawrence V Cipollone is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 481 SUMMER STREET SUITE 102, ST JOHNSBURY, VT, 05819.
Lawrence V Cipollone has worked at EDWARD JONES since November 28, 1995
Disclosure History
Lawrence V Cipollone has 1 Disclosure Event(s).
Date: October 20, 2008 Category: Customer Dispute Allegations: 2/16/08-10/14/08; CLIENT STATES SHE STRESSED TO THE FA THAT SHE COULD NOT TAKE RISK WITH HER MONEY AND SHE DESIRED INSURED INVESTMENTS. CLIENT CLAIMS SHE PREVIOUSLY BEEN INVESTING IN CDS AND WHEN THE CDS CAME DUE THE FA INVESTED MONEY INTO LEHMAN BROS BONDS. CLIENT INDICATES THE FA INFORMED HER THE BONDS WERE VERY SAFE. CLIENT STATES IF FA WOULD HAVE FOLLOWED HER WISHES SHE WOULD NOT HAVE INCURRED THE LOSSES ASSOCIATED WITH LEHMAN BROS. Damage Amount Requested: $5,000.00 Broker Comment: ACCORDING TO FA, IN FEBRUARY 2006 CLIENT HAD A CERTIFICATE OF DEPOSIT (CD) MATURE AND REINVESTMENT OPTIONS WERE DISCUSSED. FA STATED CLIENT WAS NOT HAPPY WITH THE RATES AVAILABLE FOR CDS AND CLIENT EXPRESSED INTEREST IN THE LEHMAN BOND. IT IS MY UNDERSTANDING THE FA INFORMED THE CLIENT THE BOND WAS NOT INSURED; HOWEVER, THE BOND WAS RATED A+ BY STANDARD AND POORS. WHILE WE UNDERSTAND CLIENT'S CONCERNS RELATING TO THE VALUE OF THE LEHMAN BONDS HELD IN HER ACCOUNTS, THE RECENT DEVELOPMENTS WERE CERTAINLY A SURPRISE TO MANY IN THE FINANCIAL INDUSTRY. BASED ON MY REVIEW OF THIS MATTER, WE WILL NOT BE MAKING ANY ADJUSTMENTS TO THE CLIENT'S ACCOUNTS. CLAIM DENIED.
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