MICHAEL SCOTT YAVNER is currently employed as a Broker and/or Investment Adviser at WAYPOINT DIRECT INVESTMENTS, LLC located at 9 WEST BROAD STREET, SUITE 800, STAMFORD, CT, 06902.
MICHAEL SCOTT YAVNER has worked at WAYPOINT DIRECT INVESTMENTS, LLC since May 29, 2018
Disclosure History
MICHAEL SCOTT YAVNER has 2 Disclosure Event(s).
Date: September 05, 2001 Category: Customer Dispute Allegations: CLIENTS ALLEGE FA CONVINCED THEM TO LIQUIDATE THEIR EXISTING INVESTMENTS IN THE LORD ABBETT AFFILIATED FUND (A) IN ORDER TO PURCHASE UNSUITABLE B SHARES OF DIFFERENT AGGRESSIVE GROWTH FUNDS IN EACH OF THEIR ACCOUNTS. DAMAGES ESTIMATED TO EXCEED $5,000. TIME PERIOD: 12/00. Broker Comment: I ADAMANTLY DENY ALL ALLEGATIONS MADE BY THE CUSTOMERS.UBS PAINEWEBBER DENIED THE ALLEGATIONS ON 1/2/02 BASED ON ITS FINDING THAT CLIENT LIQUIDATED LORD ABBOTT POSITION IN ORDER TO DIVERSIFY THE ACCOUNT. ADDITIONALLY, SUBSEQUENT FUND PURCHASES WERE CONSISTENT WITH CLIENT'S INVESTMENT OBJECTIVES AND RISK PROFILE.
Date: August 24, 2001 Category: Customer Dispute Allegations: CLIENT ALLEGES FA CONVINCED HER TO LIQUIDATE AN EXISTING INVESTMENT IN THE LORD ABBETT AFFILIATED FUND (CL-A) IN ORDER TO PURCHASE UNSUITABLE B SHARES OF DIFFERENT AGGRESSIVE GROWTH FUNDS. ALLEGED DAMAGES: ESTIMATED TO EXCEED $5,000. TIME PERIOD: 12/00. Broker Comment: CLIENT WAS INHERITED FROM A BROKER WHO LEFT THE FIRM ON OR ABOUT 5/15/00. I MET WITH THE CUSTOMER SEVERAL TIMES TO DISCUSS HER'S AND HER HUSBAND'S FINANCIAL PLAN. THE CLIENT WAS INTERESTED IN MUTUAL FUNDS WITH BETTER RETURNS THAN THE PACE PROGRAM I SUGGESTED. SHE DID NOT WANT TO PAY YEARLY MANAGEMENT FEE ON FUNDS AND I THEN EXPLAINED THE PRICING OPTIONS OF MUTUAL FUNDS. SINCE SHE DID NOT WANT TO PAY SALES CHARGES I SUGGESTED SUITABLE B SHARES AND EXPLAINED THE RISK AND REWARD CURVE OF SUCH INVESTMENTS. THE CUSTOMER'S CHARGES ARE UNWARRANTED. UBS PAINEWEBBER DENIED THE ALLEGATIONS ON 1/2/02 BASED ON ITS FINDING THAT CLIENT LIQUIDATED LORD ABBOTT POSITION IN ORDER TO DIVERSIFY THE ACCOUNT. ADDITIONALLY, SUBSEQUENT FUND PURCHASES WERE CONSISTENT WITH CLIENT'S INVESTMENT OBJECTIVES AND RISK PROFILE.
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