PHILIP JAMES SAPONARO is currently employed as a Broker and/or Investment Adviser at NEXT FINANCIAL GROUP, INC. located at 306 LIGHTHOUSE RD, WILMINGTON, DE, 19809.
PHILIP JAMES SAPONARO has worked at NEXT FINANCIAL GROUP, INC. since June 08, 2012
Disclosure History
PHILIP JAMES SAPONARO has 3 Disclosure Event(s).
Date: February 14, 2012 Category: Customer Dispute Allegations: CUSTOMER ALLEGED THE REPRESENTATIVE MISREPRESENTED THE FEATURES OF A REAL ESTATE TRUST IN NOVEMBER 2007, APPROXIMATELY. NO SPECIFIC COMPENSATORY DAMAGES WERE ALLEGED.
Date: March 06, 2008 Category: Customer Dispute Allegations: ATTORNEY ON BEHALF OF DELAWARE STATE RESIDENT QUESTIONS IN WRITING THE SUITABILITY OF THE LIQUIDATION OF HIS CLIENT'S ENERGY STOCK PORTFOLIO IN 9/05, THE PURCHASE OF CLASS A SHARES OF EAAFX AND THE LIQUIDATION OF SUCH SHARES. ATTORNEY ALSO STATES HIS CLIENT NEVER AUTHORIZED THE LIQUIDATION OF THE EAAFX FROM 3/06 UNTIL 3/07 BECAUSE WACHOVIA ACCEPTED INSTRUCTIONS FROM THE DAUGHTER. THE TOTAL OF THE ALLEGED UNAUTHORIZED WITHDRAWALS IS $73,000. **ARBITRATION ALLEGATIONS: ON 9/12/05, DE CLAIMANT WAS TOLD BY FA SHE SHOULD SELL HER UTILITY STOCKS AND INVEST IN EVERGREEN ASSET ALLOCATION FUND SO THAT A MONTHLY AMOUNT COULD BE LIQUIDATED AND FORWARDED AUTOMATICALLY TO HER WACHOVIA BANK CHECKING ACCOUNT. CLAIMANT ALLEGES THAT THIS TRANSACTION DEDUCTED $700 IN COMMISSION FOR FA AND WACHOVIA SECURITIES ALONG WITH A FRONT-END SALES CHARGE FROM EVERGREEN IN THE AMOUNT OF $3,000 WHICH REDUCED THE VALUE OF CLAIMANTS PURCHASE BY THAT AMOUNT. CLAIMANT ALLEGES UNSUITABLE INVESTMENTS, OMISSION OF MATERIAL FACTS AND VIOLATION OF DELEWARE CONSUMER FRAUD ACT AGAINST WACHOVIA SECURITIES, LLC AND FAS. CLAIMANT SEEKING DAMAGES IN THE AMOUNT OF $72,593 PLUS ATTORNEY'S FEES, ARBITRATION COSTS AND PRE/POST JUDGMENT INTEREST. Damage Amount Requested: $72,593.00 Settlement Amount: $38,750.00 Broker Comment: THE SALE OF STOCKS AND PURCHASE OF MF WAS SUITABLE AND THE FIRM FOLLOWED APPROPRIATE CUSTOMER IDENTIFICATION PROCEDURES. **CASE SETTLED FOR $38,750.00. RESPONDENTS DENIED ALL ALLEGATIONS OF WRONGDOING.
Date: August 01, 1993 Category: Employment Separation After Allegations Firm Name: GNA SECURITIES INC Termination Type: Permitted to Resign Allegations: SELLING AWAY Broker Comment: I HAD A CLIENT THAT PURCHASED AN ANNUITY BEFORE I WAS WITH GNA. WHILE IWAS AT GNA THE CLIENT WANTED TO ADD TO IT. SINCE GNA DID NOT HAVE THE ANNUITY COMPANY ON THEIR PLATFORM, I TOLD THECLIENT THEY COULD SEND THE MONEY DIRECTLY TO THE ANNUITY COMPANY. I DID NOT REALIZE THIS WOULD BE CONSIDERED SELLING AWAY.
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