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ROLLANCE ADAIR VERKENNIS

ROLLANCE ADAIR VERKENNIS is currently employed as a Broker and/or Investment Adviser at LINCOLN FINANCIAL ADVISORS CORPORATION located at 130 NORTH BRAND BOULEVARD, SUITE 400, GLENDALE, CA, 91203.

ROLLANCE ADAIR VERKENNIS has worked at LINCOLN FINANCIAL ADVISORS CORPORATION since June 01, 1998

Disclosure History

ROLLANCE ADAIR VERKENNIS has 2 Disclosure Event(s).

Date: August 04, 2009
Category: Customer Dispute
Allegations: THE CLIENTS ALLEGED THE REPRESENTATIVE AND OUTSIDE MONEY MANAGER CREATED AN UNSUITABLE INVESTMENT PORTFOLIO FOR THEIR MANAGED ACCOUNT ESTABLISHED IN JANUARY 2008 THAT WAS INCONSISTANT WITH THEIR STATED CONSERVATIVE OBJECTIVE AND LOW RISK TOLERANCE. Damages Granted: $1,760,500.00
Broker Comment: MY BUSINESS PARTNER AND I CONSTRUCTED A DIVERSIFIED PORTFOLIO FOR A CONSERVATIVE, HIGH NET WORTH INVESTOR WITH A LONG-TERM TIME HORIZON AND A SUBSTANTIAL PERCENTAGE OF TOTAL ASSETS IN CASH AND BONDS. INCLUDED IN THE PORTFOLIO WAS A MARKET NEUTRAL FEEDER FUND, THE SINGLE MANAGER OF WHICH PERPETRATED ONE OF THE LARGEST FRAUDS IN INVESTMENT HISTORY. THE SELECTION OF THE MANAGER WAS AT THE SOLE DISCRETION OF THE FEEDER FUND. INVESTMENT LOSSES WERE RETURNED TO THE CLAIMANT. ZERO MONIES WERE PAID TO THE CLAIMANT DIRECTLY BY US OR BY OUR INSURANCE POLICIES. I SINCERELY BELIEVE THAT ALL ACTIONS, ACTIVITIES AND TRANSACTIONS PERFORMED BY ME WERE ETHICAL, PROFESSIONAL AND IN ACCORDANCE WITH STANDARDS GOVERNING INVESTMENT PLANNING FUNDAMENTALS AND PRACTICES AND THE SALE OF INVESTMENT RELATED PRODUCTS. CLAIMANT IS A SOPHISTICATED INVESTOR AND THE INVESTMENT PORTFOLIO WAS DETERMINED WITH HIS FULL KNOWLEDGE AND UNDERSTANDING. HE KNEW AND UNDERSTOOD EXACTLY HOW THE INVESTMENT PLANNING PROCESS WORKED, HE WAS ACTIVELY INVOLVED AT EACH STEP OF THE PROCESS AND HE WAS IN TOTAL CONTROL OF ALL DECISION MAKING. CLAIMANT'S INVESTMENT PORTFOLIO WAS CONSISTENT WITH HIS STATED INVESTMENT GOALS AND OBJECTIVES.

Date: March 10, 1983
Category: Criminal
Charges: VIOLATION SECTION 11351 (CRIMINAL PROSSESSIONOF COCAINE) Charge Type: FELONY
Disposition: FELONY - NOLO CONTENDERE 180 DAYS IN COUNTY JAILOF SANTA BARBARA (SERVED 5/26/83 - 9/26/83) WITH TIME OFF FORGOOD BEHAVIOR, $3,000 FINE, 5 YEARS PROBATION, 5 YEARSSUSPENDED SENTENCE, WORK FURLOUGH GRANTED.
Broker Comment: QUOTED FROM PROBATION REPORT: ``MATTERS INMITIGATION ARE THAT THE DEFENDENT HAS NO PROIR RECORD OFCRIMINAL INVOLVEMENT AND BECAUSE OF THE DEFENDANT`S EXCESSIVEUSE OF COCAINE, IT COULD BE SAID THAT HE WAS SUFFERING FROM AMENTAL CONDITION WHICH REDUCED HIS CULPABILITY FOR THE CRIME.``

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