MILTON LEE WATSON is currently employed as a Broker and/or Investment Adviser at EQUITY SERVICES, INC. located at 8383 WILSHIRE BLVD, SUITE 450, BEVERLY HILLS, CA, 90211.
MILTON LEE WATSON has worked at EQUITY SERVICES, INC. since December 18, 2014
Disclosure History
MILTON LEE WATSON has 6 Disclosure Event(s).
Date: April 07, 2014 Category: Customer Dispute Allegations: CLIENTS ALLEGE THEY WERE MISREPRESENTED INTO PURCHASING A NEW SECURITES ACCOUNT BASED ON THE ADVICE OF THEIR AGENT. CLIENTS FURTHER ALLEGE THE AGENT DID NOT DISCLOSE ANY INVESTMENT ALTERNATIVES THAT DID NOT HAVE HIGH FEES AND COULD STILL MEET THEIR INVESTMENT GOALS AND PLANS. DAMAGES UNSPECIFIED. Settlement Amount: $1,349.51 Broker Comment: THE FIRM AGREED TO REVERSE THE TRADES IN THE SECURITIES ACCOUNT. THE FIRM ALSO AGREED TO REINSTATE THE VARIABLE ANNUITY CONTRACT AND APPLY THE PROCEEDS RECEIVED FROM THE SECURITIES ACCOUNT AS OF A CURRENT DATE. LOSS TO FIRM:$1,349.51. RR WATSON'S ERRORS AND OMISSIONS DID NOT CONTRIBUTE TO THE SETTLEMENT.
Date: April 10, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES THE SALE OF A VARIABLE ANNUITY WAS AN UNSUITABLE PRODUCT. DAMAGES ARE UNSPECIFIED. Settlement Amount: $40,000.00 Broker Comment: WITHOUT ADMITTING FAULT OR LIABILITY, ALL PARTIES AGREED TO SETTLE THE MATTER FOR $40,000.00. RR MILTON WATSON'S ERRORS & OMISSIONS CARRIER CONTRIBUTED $40,000 TO THE SETTLEMENT ON HIS BEHALF.CLIENT FILE CONTAINS ALL SUPPORTING DOCUMENTATION.
Date: May 25, 2006 Category: Customer Dispute Allegations: CUSTOMER ALLEGES THAT THE PROCEEDS OF HER 403B PLAN WERE USED TO ESTABLISH A 2006 MUTUAL FUND ACCOUNT IN WHICH A AND B SHARE MUTUAL FUNDS WERE PURCHASED. CUSTOMER ALLEGES THE AGENT DID NOT DISCLOSE THE SURRENDER FEE CHARGES AGAINST HER MONEY NOR DISCLOSURES IN CONNECTION WITH A AND B SHARE CLASSES. CUSTOMER FURTHER ALLEGES THE AGENT DID NOT DISCLOSE INFORMATION REGARDING REDUCED SHARE PRICES BASED ON THE TOTAL AMOUNT OF MONEY INVESTED. CLIENT IS REQUESTING TO CANCEL THE TRANSACTION AS THOUGH IT NEVER HAPPENED AND HAVE THE ENTIRE AMOUNT INVESTED, RETURNED TO HER OR HER RETIREMENT ACCOUNT. DAMAGES ARE UNSPECIFIED. Broker Comment: THE FIRM FOUND NO BASIS TO THE CUSTOMER COMPLAINT.
Date: May 04, 2006 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT HER ANNUITY CONTRACT WAS SURRENDERED AND THE PROCEEDS WERE USED TO ESTABLISH A 2006 BROKERAGE ACCOUNT IN WHICH B SHARE MUTUAL FUNDS WERE PURCHASED. CLIENT ALLEGES SHE WAS NOT AWARE OF THE MUTUAL FUND STRUCTURE NOR AWARE OF A SURRENDER CHARGE UPON EARLY WITHDRAWAL OF HER MONEY. CLIENT IS REQUESTING TO CANCEL THE TRANSACTION AS THOUGH IT NEVER HAPPENED AND HAVE THE ENTIRE AMOUNT INVESTED, RETURNED TO HER OR TO HER RETIREMENT ACCOUNT. DAMAGES ARE UNSPECIFIED. Settlement Amount: $5,762.79 Broker Comment: THE FIRM AGREED TO CANCEL THE MUTUAL FUND TRADES. AS A RESULT, THERE WAS A LOSS TO THE FIRM OF $5,762.79.
More Information
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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.
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