LUCAS ALEXANDER VAN ZANDT is currently employed as a Broker and/or Investment Adviser at WADDELL & REED located at 2319 WHITNEY AVE, SUITE 5-A, HAMDEN, CT, 06518.
LUCAS ALEXANDER VAN ZANDT has worked at WADDELL & REED since September 11, 2009
Disclosure History
LUCAS ALEXANDER VAN ZANDT has 4 Disclosure Event(s).
Date: May 20, 2009 Category: Employment Separation After Allegations Firm Name: WELLS FARGO ADVISORS LLC Termination Type: Discharged Allegations: POLICY VIOLATIONS INCLUDING FAILURE TO FOLLOW FIRM POLICY REGARDING A REGULATORY INQUIRY, DELIVERING CORRESPONDENCE WITHOUT REVIEW AND APPROVAL, AND FAILURE TO DISCLOSE AN ARREST
Date: February 18, 2009 Category: Customer Dispute Allegations: CONNECTICUT CLIENTS CLAIMED THAT IN 2007 THE FA TOLD THEM THAT THEY SHOULD BALANCE THEIR PORTFOLIO BY BUYING A BOND FUND. THE CLIENTS FURTHER CLAIMED THAT THEY TOLD THE FA THEY WERE NOT LOOKING FOR AN INVESTMENT AS MUCH AS PROTECTING THEIR MONEY, SUCH AS IN A MONEY MARKET. THE CLIENTS CLAIMED THAT THE FA RECOMMENDED CLAYMORE SECURITIES AND SAID THAT THIS WOULD GIVE THEM THE BEST RETURNS. THE CLIENT CLAIMED THAT THEY TOLD THE FA THAT THEY WANTED A CONSERVATIVE APPROACH TO THEIR INVESTMENTS AND THEIR MONEY PROTECTED. ON TRADE DATE SEPTEMBER 6, 2007 THE CLIENTS PURCHASED 4,907 UNITS OF THE CLAYMORE SECURITIES STRATEGIC INCOME PORTFOLIO SERIES 15 REINVESTMENT UIT (THE CLAYMORE UIT AND/OR THE UIT) AT A PRICE OF 10.1884 FOR A NET AMOUNT OF $49,994.48. THE CLIENTS CLAIMED THAT SHORTLY AFTER PURCHASING THE CLAYMORE UIT, THE VALUE DECLINED AND THEY INSTRUCTED THE FA TO SELL THE UIT BUT THAT HE DIDN'T DO IT SAYING THAT IT WOULD COST THEM TOO MUCH TO GET OUT OF THE INVESTMENT AND THAT THE FORECAST FOR THE UIT WAS GOOD. THE CLIENTS STAYED WITH THE INVESTMENT. THE CLIENTS TRANSFERRED THEIR ACCOUNT AND THE UIT POSITION FROM THE FIRM IN OCTOBER 2008. THE CLIENTS SEEK TO RECOVER THE PRINCIPAL THAT THEY HAD INVESTED IN THE CLAYMORE UIT. DAMAGES ARE BELIEVED TO BE IN EXCESS OF $5,000. Broker Comment: THE FIRM DENIED THE COMPLAINT ON MARCH 12, 2009 VIA A LETTER TO THE CLIENTS.FA'S RESPONSE: I BEGAN WORKING WITH THE CLIENTS AS THEIR FINANCIAL ADVISOR IN THE SUMMER OF 2007. AFTER GETTING TO KNOW THE CLIENTS FOR SEVERAL MONTHS, I DISCUSSED A NUMBER OF INVESTMENTS WITH THEM INCLUDING THE CLAYMORE SECURITIES STRATEGIC INCOME PORTFOLIO SERIES 15 REINVESTMENT UIT ("THE CLAYMORE UIT" AND/OR "THE UIT"). IT WAS MY UNDERSTANDING THAT THE CLIENTS HAD $50,000 THAT THEY WANTED TO INVEST AT THAT TIME. BASED UPON THE CLIENTS' OVERALL INVESTOR PROFILE, INCLUDING THEIR NET WORTH, ANNUAL INCOME, LIQUID ASSETS, MODERATE GROWTH & INCOME INVESTMENT OBJECTIVES, I BELIEVED THAT THE CLAYMORE UIT WOULD MEET THEIR FINANCIAL NEEDS AND COMPLIMENT THEIR EXISTING PORTFOLIO. THE CLIENTS WERE PROVIDED WITH A FACT SHEET FOR THE UIT AND A PROSPECTUS. I EXPLAINED HOW THE UIT WORKED, THE CHARACTERISTICS OF THE UIT, HOW THE UIT WAS STRUCTURED, THE RISKS ASSOCIATED WITH INVESTING IN THE UIT, AS WELL AS THE COSTS AND FEES. AFTER THE CLIENTS PURCHASED THE UIT, I SPOKE TO THEM A NUMBER OF TIMES TO REVIEW HIS ACCOUNT AND INVESTMENTS. I WAS NEVER TOLD BY THE CLIENTS TO SELL THE UIT. THE CLIENTS PURCHASED ANOTHER UIT FOR THEIR ACCOUNT IN MAY 2008. I BELIEVE THE COMPLAINT TO BE WITHOUT MERIT.
Date: November 19, 2007 Category: Customer Dispute Allegations: FLORIDA CLIENT REQUESTED THAT THE FA BE REMOVED AS THE FA FOR HER ACCOUNTS. THE CLIENT CLAIMED THAT THE FA DID NOT TELL HER THAT A FUND THAT HE RECOMMENDED HAD A SALES CHARGE OF 3% PLUS AND ANNUAL EXPENSES OF 1.6%. THE CLIENT HAD PURCHASED 33,162 UNITS OF THE FIRST TRUST MUNICIPAL INCOME SELECT C/E SERIES 9 UIT AT A PRICE OF 9.70980 FOR A NET AMOUNT OF $321,996.39 ON TRADE DATE OCTOBER 15, 2007. THE CLIENT DID NOT MAKE A CLAIM FOR DAMAGES. THE SALES CHARGE FOR THE UIT IS ESTIMATED TO BE 3.1% OR $9,981.89. Damage Amount Requested: $9,981.99 Broker Comment: A LETTER WAS SENT TO THE CLIENT ON DECEMBER 12, 2007 DENYING THE COMPLAINT. PER THE FA, HE DISCUSSED WITH THE CLIENT AND HER SON SUCH INFORMATION AS THE CHARACTERISTICS, STRUCTURE, PORTFOLIO COMPOSITION, PORTFOLIO OBJECTIVE, ADVANTAGES (INCLUDING THE TAX ADVANTAGES), RISKS, FEES AND COSTS (INCLUDING SALES CHARGES AND AVAILABLE BREAKPOINTS) ASSOCIATED WITH AN INVESTMENT IN THE FIRST TRUST MUNICIPAL INCOME SELECT C/E SERIES 9 UIT.
Date: August 27, 2007 Category: Customer Dispute Allegations: CLIENT VERBALLY ALLEGED THAT HE WAS MISLED BY THE FINANCIAL ADVISOR IN DECEMBER 2006 WHEN HE REQUESTED A DISBURSEMENT FROM HIS ACCOUNT BECAUSE HE WAS TOLD THAT HE WOULD NEED TO REALLOCATE HIS PORTFOLIO INTO A UNIT INVESTMENT TRUST IN ORDER TO HAVE FUNDS AVAILABLE. COMPENSATORY DAMAGES UNSPECIFIED. Settlement Amount: $10,994.00
More Information
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
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.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for LUCAS ALEXANDER VAN ZANDT, click here.
The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.
×
Outdated Information
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
×
BrokerSearch Removal
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.