PAUL EDWARD STROKES is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 1152 15TH ST NW, WASHINGTON, DC, 20005.
PAUL EDWARD STROKES has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since June 22, 1979
Disclosure History
PAUL EDWARD STROKES has 2 Disclosure Event(s).
Date: August 12, 2004 Category: Customer Dispute Allegations: THE CUSTOMER ALLEGES THAT THE FA MADE UNSUITABLE INVESTMENTS. Damage Amount Requested: $422,366.00 Broker Comment: MERRILL LYNCH HAS DENIED THIS MATTER IN ITS ENTIRETY.MR STROKES DENIES ANY WRONGDOING, STATES THAT MS MASSOUD WAS AWARE OF AND APPROVED ALL PURCHASES AND SALES IN HER ACCOUNT, AND THAT EACH WAS SUITABLE.
Date: January 04, 1998 Category: Customer Dispute Allegations: CLIENT ALLEGED HER MERRILL LYNCH FINANCIALCONSULTANT DID NOT ADVISE HER OF ALL MATERIAL FACTS RELEVANT TOHER SURRENDER OF A DEFERRED ANNUITY CONTRACT TO PURCHASE A LIFEINSURANCE POLICY AND AN IMMEDIATE ANNUITY. THE CLIENT ISREQUESTING THE DEFERRED ANNUITY CONTRACT BE REINSTATED WHICHWOULD COST APPROXIMATELY $10,600.00. Damage Amount Requested: $10,600.00 Settlement Amount: $3,773.37 Broker Comment: ALTHOUGH OUR REVIEW OF THIS MATTER DID NOTREVEAL ANY OMISSION OF FACT ON THE PART OF THE FINANCIALCONSULTANT, THE PURCHASE OF THE INSURANCE POLICY AND IMMEDIATEANNUITY WERE REVERSED AND THE DEFERRED ANNUITY REINSTATED. THISWAS DONE BY THE INDEPENDANT INSURANCE CARRIERS INVOLVED PRIORTO OUR INPUT. WHEN IT WAS DETERMIMNED THAT THE REINSTATEMENTHAD COST THE CLIENT $3,773.37 IN A NEGATIVE MARKET VALUEADJUSTMENT OF WHICH THE CLIENT WAS NOT ADVISED BY THE CARRIERS,MERRILL LYNCH MADE A BUSINESS DECISION TO REIMBURSE THE CLIENTTHIS AMOUNT IN ORDER TO AVOID FURTHER DISPUTE. THE FINANCIALCONSULTANT DID NOT CONTRIBUTE TO THIS SETTLEMENT NOR WAS ITMADE DUE TO ANY WRONGDOING ON HIS PART.I DENY ANY WRONG DOING OR LIABILITY. I DID NOTPARTICIPATE IN THE NEGOTIATION AND SETTLEMENT. I DID NOTCONTRIBUTE TO THE SETTLEMENT NOR ASKED TO CONTRIBUTE.
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