Robert Winston Waters is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 405 PILE STREET, CLOVIS, NM, 88101.
Robert Winston Waters has worked at EDWARD JONES since May 21, 1987
Disclosure History
Robert Winston Waters has 1 Disclosure Event(s).
Date: May 28, 2008 Category: Customer Dispute Allegations: THE CLIENT STATES SHE DEPOSITED $700,000 ON MARCH 12, 2008. THE CLIENT STATES SHE INSTRUCTED THE FA TO INVEST $600,000 IN CDS AND $100,000 IN NEW WORLD FUND. SHE STATES A COUPLE OF DAYS LATER, SHE DEPOSITED $13,000 AS HER SIMPLE PLAN CONTRIBUTION; SHE STATES SHE WANTED TO INVEST IN NEW WORLD FUND IN THIS ACCOUNT. SHE STATES SHE CONTACTED THE BRANCH SEVERAL TIMES AND FINALLY TALKED TO THE FA ON 4/16/08 REGARDING THE INVESTMENTS. SHE STATES THE FA ACKNOWLEDGED THE TRANSACTIONS WERE NOT MADE AND HE WOULD PLACE TRADES TO REFLECT THE ORIGINAL MARCH 12, 2008 DATE. SHE STATES THAT THESE TRANSACTIONS HAVE NOT BEEN MADE. Damage Amount Requested: $5,000.00 Settlement Amount: $11,164.93 Broker Comment: IT IS OUR UNDERSTANDING TRADES SHOULD HAVE BEEN PLACED AT THE TIME OF THE DEPOSITS IN BOTH ACCOUNTS. OUR RECORDS INDICATE THE CLIENT DEPOSITED $700,000 IN ONE ACCOUNT ON MARCH 12, 2008. THE CLIENT HAS INDICATED $600,000 WAS TO BE INVESTED IN SHORT TERM CDS AND THE REMAINING $100,000 IN NEW WORLD FUND AND SMALL CAP WORLD FUND EQUALLY. $50,000 WAS INVESTED INTO EACH OF THE FUNDS AS OF MARCH 13, 2008. THE CLIENT HAS BEEN SENT CONFIRMATIONS REFLECTING THE CORRECT TRADE DATE. IN ANOTHER ACCOUNT, THE CLIENT DEPOSITED $13,000 ON MARCH 14, 2008; NEW WORLD FUND WAS PLACED AS OF MARCH 14, 2008. FROM OUR REVIEW, IT APPEARS THE CLIENT MAY HAVE BEEN ABLE TO PURCHASE CDS WITH A RATE OF APPROXIMATELY 3.55% AT THE TIME OF THE DEPOSITS. THE FA HAS DISCUSSED WITH THE CLIENT THE OPTIONS AVAILABLE NOW. WE ARE OFFERING THE INTEREST THAT MAY HAVE BEEN EARNED IF THE FUNDS WERE INVESTED AT THE TIME OF THE DEPOSIT. WE HAVE TAKEN INTO CONSIDERATION THE AMOUNT OF TIME THE FUNDS WERE IN MONEY MARKET AND THE DIVIDENDS EARNED, THE AMOUNT OF TIME THE CLIENT WAS NOT INVESTED INTO CDS, AND THE DIFFERENCE IN THE RATE FROM SETTLEMENT OF THE CDS PURCHASED UNTIL MATURITY. TOTAL SETTLEMENT FROM TRADE CORRECTIONS AND REIMBURSEMENT OF LOST INTEREST WAS $11164.93.
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