PETER HELMUT VANFLEIN is currently employed as a Broker and/or Investment Adviser at GENEOS WEALTH MANAGEMENT, INC. located at 4001 GEIST ROAD, SUITE #14, FAIRBANKS, AK, 99709.
PETER HELMUT VANFLEIN has worked at GENEOS WEALTH MANAGEMENT, INC. since July 19, 2006
Disclosure History
PETER HELMUT VANFLEIN has 3 Disclosure Event(s).
Date: July 15, 2004 Category: Customer Dispute Allegations: PERSON HOLDING POWER OF ATTORNEY (POA) FOR CLIENT STATES APPROXIMATELY $150,000 OF FEDERATED BOND FUNDS WERE PURCHASED FOR CLIENT BY THE FORMER TRUSTEE ON CLIENT'S TRUST ACCOUNT. POA STATES THAT SHE DID NOT AGREE WITH THIS PURCHASE FOR AN 82-YEAR OLD AND THIS WAS DONE WITHOUT CONSULTING THE OWNER OF THE TRUST OR THE POA. POA STATES STATES THAT WHEN SHE LEARNED OF THE PURCHASE SHE CONTACTED IR TO RESCIND THE TRADE AND IR INFORMED POA THAT SHE WAS NOT LISTED ON THE ACCOUNT AND IR COULD NOT DISCUSS THE ACCOUNT WITH HER. POA FURTHER STATES THAT WHEN THE TRUST WAS REVOKED AND THE FORMER TRUSTEE WAS NO LONGER ON THE ACCOUNT, POA SOLD THE FUNDS AND INVESTED IN AMERICAN EQUITY FUNDS AND CLAIMED A LOSS OF $11,000. Damage Amount Requested: $11,000.00 Broker Comment: THE IR STATED THAT THE CLIENT'S DAUGHTER WANTED TO BE ABLE TO GIVE DIRECTION IN THE ACCOUNT AS SHE HAD POA FOR HER MOTHER. THE IR EXPLAINED TO THE DAUGHER THAT AS SHE WAS NOT A TRUSTEE ON THE ACCOUNT, IR COULD NOT ACCEPT DIRECTIONS FROM HER AND REPEATEDLY ASKED THE DAUGHTER TO PROVIDE THE POA FOR REVIEW. ACCORDING TO OUR RECORDS, THE POA WAS NOT PROVIDED UNTIL APRIL 2004, WHICH WAS WELL AFTER THE INVESTMENT IN QUESTION. IT HAS BEEN DETERMINED THAT DIRECTIONS WERE RECEIVED FROM THE APPROPRIATE PARTY ON THE ACCOUNT AS TO THE INVESTMENT IN QUESTION. IN ADDITION, THE PURCHASE OF THIS INVESTMENT DOES NOT APPEAR TO BE OUTSIDE THE SCOPE OF THE INVESTMENT OBJECTIVES OF THE ACCOUNT. CLAIM DENIED.
Date: September 24, 2002 Category: Regulatory Initiated By: STATE OF ALASKA Allegations: EDWARD JONES AND VAN FLEIN FAILED TO PROPERLY CLASSIFY A CUSTOMER COMPLAINT LETTER AS A COMPLAINT PER NASD RULE 3110. EDWARD JONES AND VAN FLEIN FAILED TOKEEP AND PRESERVE A COPY OF THE COMPLAINT LETTER AS CORRESPONDENCE IN THE BRANCH OFFICE AND AS A COMPLAINT IN THE OSJ PER NASD RULE 3110. Resolution: Other SanctionDetails: Sanctions: Monetary/Fine SanctionDetails: Amount: $11,000.00 Sanction Details: CONSENT ORDER; $11,000.00 FINE
Date: September 11, 2002 Category: Customer Dispute Allegations: CLIENT STATES THAT TWO YEARS AGO SHE INVESTED $100M WITH JONES BELIEVING THAT A CONSERVATIVE DIVERSIFIED PORTFOLIO WOULD SUIT HER NEEDS. STATES SHE WAS WRONG AND THAT HER ACCT HAS LOST $75M. CLIENT STATES THE IR WAS NOT KNOWLEDGEABLE ENOUGH TO HANDLE INVESTORS MONEY AND THAT THE INVESTMENTS WERE NEITHER CONSERVATIVE NOR DIVERSIFIED. STATES SHE WAS AWARE A CERTAIN AMOUNT OF RISK WAS INVOLVED. NO SPECIFIC CLAIM. LOSSES CLAIMED EXCEED $5,000 Damage Amount Requested: $5,000.00 Broker Comment: IR STATED THAT, AT THE TIME THE ACCOUNT WAS OPENED, CLIENT INDICATED THAT HE HAD AN ON-LINE ACCT THAT WAS VERY ACTIVE AND INVESTED VERY AGGRESSIVELY BUT THAT HE WAS NOT SATISFIED WITH RECENT PERFORMANACE. IN AN ATTEMPT TO GATHER INFORMATION ON CLIENT'S COMPLETE FINANCIAL SITUATION IR ASKED TO REVIEW CLIENT'S OTHER ACCOUNTS; HOWEVER, CLIENT DECLINED AND INDICATED THAT HE WAS NOT INTEREST IN SHAPING HIS PORTFOLIO AFTER THE JONES MODEL PORTFOLIO, ONLY WANTED INFORMATION ON TELECOM AND TECH STOCKS. IR WOULD GIVE CLIENT EDJ OPINION AND S&P REPORTS; CLIENT WOULD DO HIS OWN RESEARXCH AND CONTACT IR WITH WHAT HE WANTED TO PURCHASE. IR STATED THAT CLIENT DID NOT WANT A DIVERSIFIED PORTFOLIO BUT WAS INTEREST IN PREDOMINANTLY GROWTH/AGGRESSIVE GROWTH. DETERIMINED THAT INVESTMENTS WERE IN LINE WITH OBJECTIVES AS STATED TO THE IR.
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