PATRICK W MONAHAN is currently employed as a Broker and/or Investment Adviser at SAXONY SECURITIES, INC. located at 600 EMERSON ROAD, STE. 110, Suite 110, ST. LOUIS, MO, 63141.
PATRICK W MONAHAN has worked at SAXONY SECURITIES, INC. since October 29, 2014
PATRICK W MONAHAN has 1 Disclosure Event(s).
Date: April 17, 2013 Category: Customer Dispute Allegations: CLIENT ALLEGED THEY WERE NOT MADE AWARE THAT INVESTMENT ADVICE, CONCERNING THE SURRENDER OF AN ANNUITY WOULD LEAD TO SURRENDER CHARGES AND EARLY REALIZATION OF TAXES. Damage Amount Requested: $12,091.00 Settlement Amount: $12,091.00 Broker Comment: ADVISOR STATES HE WAS ATTEMPTING TO ENHANCE HER CURRENT FINANCIAL PLAN BY TRANSFERRING A VARIABLE ANNUITY WITH HIGH EXPENSES TO A LOWER COST NON-COMMISSIONED INVESTMENT ACCOUNT. ADVISOR ALSO STATE THE CLIENT WAS MADE AWARE OF SURRENDER CHARGES AND THAT THIS TRANSFER WAS A TAXABLE EVENT.
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