MARK GERARD HEINEMANN

MARK GERARD HEINEMANN is currently employed as a Broker and/or Investment Adviser at NYLIFE SECURITIES LLC located at 520 BROAD HOLLOW RD., MELVILLE, NY, 11747.

MARK GERARD HEINEMANN has worked at NYLIFE SECURITIES LLC since March 26, 1986

Disclosure History

MARK GERARD HEINEMANN has 1 Disclosure Event(s).

Date: November 04, 1998
Category: Customer Dispute
Allegations: CLIENT ALLEGES AMONG OTHER SERVICE-RELATEDISSUES, THE FOLLOWING WITH REGARD TO HER PURCHASE OF ALIFESTAGES VARIABLE ANNUITY: 1) SHE WAS NEVER APPRISED OF THEFEES THAT WERE ASSOCIATED WITH THE ANNUITY; AND 2)SHE WAS GIVENTHE WRONG ADVICE AS TO HOW MUCH INCOME SHE COULD SAFELYWITHDRAW FROM THE ANNUITY WITHOUT DEPLETING THE PRINCIPAL ANDWAS NOT GIVEN PRIOR NOTICE IN WRITING OR VERBALLY. THE CLIENTIS SEEKING CANCELLATION OF THE ANNUITY WITHOUT ANY SURRENDERPENALTY. AMOUNT OF CLAIM $308,000. NAME OF EMPLOYING FIRM:NYLIFE SECURITIES INC.
Damage Amount Requested: $308,000.00
Settlement Amount: $310,735.00
Broker Comment: UPON REVIEW THE COMPANY OFFERED AS A MATTER OFCUSTOMER SERVICE THE OPTION OF "TEN-DAY FREE LOOK" OF THELIFESTAGES ANNUITY POLICY. THE CLIENT ACCEPTED THE OFFER ON1/29/99 AND AN AMOUNT OF $310,735 WAS RETURNED TO THE CLIENT.1.) CLIENT WAS GIVEN & SIGNED A COPY OF A FORMEXPLAINING ALL FEES & EXPENSES WITHIN THE ANNUITY. 2.)I HADSEVERAL DOCUMENTED CONVERSATIONS WITH THE CLIENT EXPLAINING THEVARIOUS INVESTMENT DIVISIONS, AS WELL AS THE POSSIBILITY OFINVADING PRINCIPLE IF SHE TRIED TO WITHDRAW THE AMOUNT SHEDESIRED.

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