ROBERT HAROLD BROWN is currently employed as a Broker and/or Investment Adviser at FIDELITY BROKERAGE SERVICES LLC located at 2225 VILLAGE WALK DRIVE, STE 199, SHOPS AT GREEN VALLEY RANCH, LAS VEGAS, NV, 89052.
ROBERT HAROLD BROWN has worked at FIDELITY BROKERAGE SERVICES LLC since March 16, 1989
Disclosure History
ROBERT HAROLD BROWN has 2 Disclosure Event(s).
Date: August 13, 2002 Category: Customer Dispute Allegations: CUSTOMER ALLEGES THAT MR. BROWN CAUSED HER TO INVEST IN ANNUITIES THAT WERE UNSUITABLE FOR HER. THE FIRM INVESTIGATED CUSTOMER'S ALLEGATIONS AND DETERMINED THEY WERE BASELESS AND WITHOUT ANY MERIT. OUR RECORDS INDICATE CUSTOMER INVESTED IN A FIDELITY VARIABLE ANNUITY IN 1995 AND THAT HER INVESTMENT DID VERY WELL. SHE ALSO OWNED A FIXED DEFERRED ANNUITY WITH ANOTHER FINANCIAL FIRM. IN LATE 2000, THAT FIRM NOTIFIED THE CUSTOMER THEY WERE REDUCING THE INTEREST RATE ON HER FIXED DEFERRED ANNUITY AND AS A RESULT, THE CUSTOMER CONTACTED FIDELITY TO DISCUSS INVESTMENT OPTIONS AVAILABLE TO HER THROUGH FIDELITY. IN LIGHT OF THE STRONG PERFORMANCE CUSTOMER EXPERIENCED IN HER FIDELITY VARIABLE ANNUITY, SHE CHOSE TO EXCHANGE HER FIXED DEFERRED ANNUITY FOR ANOTHER FIDELITY VARIABLE ANNUITY. Damage Amount Requested: $80,000.00
Date: November 07, 2000 Category: Customer Dispute Allegations: [CUSTOMER] ALLEGES THAT ROBERT BROWN RECOMMENDED HE PURCHASE AN IMMEDIATE ANNUITY AS A MEANS TO SATISFY HIS MRD REQUIREMENT FROM HIS IRA. HE NOW ALLEGES THIS INVESTMENT IS NOT SUITABLE FOR HIM AND REQUESTS THAT FIDELITY CANCEL THE ANNUITY CONTRACT. THE FIRM INVESTIGATED THIS MATTER AND CONCLUDED THAT ROBERT DISCUSSED A NUMBER OF DIFFERENT OPTIONS WITH [CUSTOMER] FOR MAKING HIS REQUIRED MRD WITHDRAWALS, WHICH INCLUDED AN IMMEDIATE ANNUITY. HOWEVER, TO AVOID THE RISK AND EXPENSE OF LITIGATION, FIDELITY AGREED TO SETTLE THE MATTER WITH [CUSTOMER] BY CANCELING THE ANNUITY CONTRACT. Damage Amount Requested: $8,500.00 Settlement Amount: $62,787.59
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