Robert M. Sisson

Robert M. Sisson is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 117 W WASHINGTON STREET, HARTFORD CITY, IN, 47348.

Robert M. Sisson has worked at EDWARD JONES since August 27, 1996

Disclosure History

Robert M. Sisson has 1 Disclosure Event(s).

Date: March 18, 2004
Category: Customer Dispute
Allegations: CLIENT STATES WHEN HE FIRST MET WITH IR, CLIENT TOLD IR HE COULD NOT AFFORD TO LOSE THE MONEY HE INVESTED. CLIENT STATES WHEN HE BECAME AWARE OF POTENTIAL RISK INVOLVED WITH IR'S RECOMMENDATIONS, CLIENT MET WITH IR AND REQUESTED A CHANGE IN INVESTMENT STRATEGY. CLIENT STATES IR BASICALLY REFUSED AND THAT CLIENT HAS SUFFERED SUBSTANTIAL LOSSES. LOSSES EXCEED $5,000.
Damage Amount Requested: $5,000.00
Broker Comment: IR INDICATED HE MET WITH CLIENT TO INVEST THE CLIENT'S ROLLOVER FROM A PREVIOUS EMPLOYER. IR STATED THE CLIENT WAS CONCERNED ABOUT VOLATILITY IN THE MARKET, SO IR RECOMMENDED THE CLIENT INVEST IN A HARTFORD PUTNAM CAPITAL MANAGER VARIABLE ANNUITY IN DECEMBER 1998. IR INDICATED THE CLIENT INITIALLY SET UP AN EIGHT PERCENT MONTHLY DISTRIBUTION. IT IS OUR UNDERSTANDING IN SEPTEMBER 2000, CLIENT INFORMED IR THAT HE WOULD NEED TO BEGIN TAKING LARGER MONTHLY DISTRIBUTIONS. IR STATED HE WAS CONCERNED WITH THE INCREASED DISTRIBUTION AND SHARED THOSE CONCERNS WITH THE CLIENT; HOWEVER, THE CLIENT MADE THE DECISION TO INCREASE THE DISTRIBUTION. IR INDICATED HE MET WITH THE CLIENT OVER THE NEXT SEVERAL MONTHS AND HAS STATED HE ENCOURAGED CLIENT TO DECREASE THE MONTHLY DISTRIBUTIONS, IF POSSIBLE, AND ALSO ENCOURAGED THE CLIENT TO STAY ON COURSE AND STAY DIVERSIFIED. THE INVESTMENTS THAT WERE HELD IN THE ACCOUNT APPEAR TO BE WITHIN THE SCOPE OF THE INVESTMENT OBJECTIVES AS LISTED ON THE ACCOUNT. WHILE WE UNDERSTAND THE CLIENT'S DISAPPOINTMENT WITH THE PERFORMANCE OF THE PORTFOLIO, IT DOES APPEAR THE DECLINE IS ATTRIBUTED TO MARKET FLUCTUATION. EDWARD JONES DOES MAINTAIN AN INVESTMENT PHILOSOPHY OF BUYING QUALITY INVESTMENTS AND HOLDING THEM FOR THE LONG TERM. CLAIM DENIED.

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