Reid Bernard McLellan is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 8451 HIGHWAY 23, SUITE 3, BELLE CHASSE, LA, 70037.
Reid Bernard McLellan has worked at EDWARD JONES since March 07, 2003
Reid Bernard McLellan has 1 Disclosure Event(s).
Date: September 30, 2008 Category: Customer Dispute Allegations: 11/07-9/08; CLIENT CLAIMS HE REQUESTED IN NOVEMBER 2007 TO LIQUIDATE HIS HARTFORD ANNUITY AND BUY A ONE YEAR CD. CLIENT CLAIMS FA ADVISED HIM HE HAD 12 YEARS EXPERIENCE AND COULD SEE NOTHING THAT WOULD CAUSE THE MARKET TO FALL AND WAS TOLD BY THE FA THE MARKET GOES UP MORE THAN IT GOES DOWN. CLIENT CLAIMS HE WENT BACK A SHORT TIME LATER AND WAS ADVISED THE SAME AGAIN. SOME TIME LATER THE CLIENT CLAIMS THE FA CONTACTED HIM AFTER THE MARKET TOOK A BIG DROP AND INQUIRED IF HE STILL WANTED TO SELL THE ANNUITY AND INFORMED THE CLIENT HE WOULD HAVE MADE MONEY IF THEY HAD PURCHASED THE CD. CLIENT IS CONCERNED AS HE BELIEVES HE WILL BE WITHDRAWING PRINCIPAL THE NEXT TIME HE TAKES HIS RMD. CLAIM EXCEEDS $5,000 Damage Amount Requested: $5,000.00 Broker Comment: BASED ON REVIEW, IT APPEARS THE CLIENT WAS ADVISED NOT TO SELL IN NOVEMBER 2007 AND CLIENT DECIDED NOT TO SELL AT THAT TIME. EDJ DOES NOT RECOMMEND SELLING GOOD QUALITY, LONG-TERM INVESTMENTS DURING UNCERTAIN TIMES. IT IS OUR OPINION THE FA PROVIDED THE CLIENT WITH SUITABLE ADVICE IN GOOD FAITH AND THE CLIENT DID NOT GIVE INSTRUCTIONS TO SELL THE ANNUITY. ADDITIONALLY, THE FA INDICATED HE MAY HAVE RAISED HIS VOICE DURING THEIR CONVERSATIONS BUT ONLY TO ENSURE HE COULD BE HEARD NOT BECAUSE HE WAS AT ANY TIME TRYING TO INTIMIDATE THE CLIENT. CLAIM DENIED.
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