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Ryan J. Catlin

Ryan J. Catlin is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 4828 QUAIL CREST PLACE STE B, LAWRENCE, KS, 66049.

Ryan J. Catlin has worked at EDWARD JONES since February 15, 2000

Disclosure History

Ryan J. Catlin has 1 Disclosure Event(s).

Date: January 05, 2009
Category: Customer Dispute
Allegations: 10/8/07-12/31/08; CLIENT STATES FA MOVED HER MONEY FROM THREE FIXED ANNUITIES TO A VARIABLE ANNUITY. CLIENT INDICATES THE FIXED ANNUITIES HAD A GUARANTEED INTEREST RATE AND THE CLIENT FEELS THE SUB ACCOUNTS IN THE NEW ANNUITY ARE NOT APPROPRIATE FOR HER AGE AND FINANCIAL STATUS. LOSSES EXCEED $5,000.
Damage Amount Requested: $5,000.00
Broker Comment: ACCORDING TO FA, CLIENT INITIATED CONTACT WITH HIM IN SEPT 2007. FA STATED CLIENT INQUIRED WITH HIM ABOUT EXCHANGING HER FIXED ANNUITIES INTO A VARIABLE ANNUITY, AS SHE WAS UNHAPPY WITH THE CURRENT RETURNS. IT IS OUR UNDERSTANDING FA HAD A LENGTHY DISCUSSION ABOUT THE DIFFERENCES BETWEEN FIXED AND VARIABLE ANNUITIES AND HE REVIEWED THE RISKS ASSOCIATED WITH VARIABLE ANNUITIES. FA STATED CLIENT DID NOT HAVE A NEED FOR CURRENT INCOME AND SHE HAD AN INVESTMENT HORIZON OF GREATER THAN SEVEN YEARS. AS A RESULT OF THIS DISCUSSION, THE VARIABLE ANNUITY WAS PURCHASED ON 10/8/07. OUR RECORDS REFLECT CLIENT SIGNED A DELIVERY RECEIPT ON OCTOBER 22, 2007 AND ALSO SIGNED THREE ACKNOWLEDGMENT LETTERS DURING HER INITIAL APPOINTMENT IN SEPT 2007. FA HAS INDICATED SINCE THE ANNUITY PURCHASE, CLIENT HAS SPOKEN WITH HIM OR THE BRANCH OFFICE ON SEVERAL OCCASIONS AND IT WAS NOT UNTIL HE RECEIVED THE CLIENT'S LETTER TO THE KS DEPT OF INSURANCE IN JAN 2009 THAT HE WAS AWARE CLIENT HAD CONCERNS REGARDING THE ANNUITY. WHILE WE CERTAINLY UNDERSTAND CLIENT'S DISAPPOINTMENT IN THE PERFORMANCE OF THE ANNUITY, WE HAVE BEEN EXPERIENCING TUMULTUOUS AND UNPRECEDENTED MARKET CONDITIONS, WHICH HAVE HAD A SIGNIFICANT IMPACT ON VALUATIONS. BASED ON OUR REVIEW OF THIS MATTER, IT APPEARS CLIENT WAS WELL INFORMED ABOUT THE RISKS ASSOCIATED WITH INVESTING IN A VARIABLE ANNUITY AND CLIENT AUTHORIZED THE PURCHASE. FURTHER, THE ANNUITY SUB-ACCOUNTS DO NOT APPEAR TO BE OUTSIDE THE SCOPE OF THE STATED INVESTMENT OBJECTIVES OF THE CLIENT'S ACCOUNT. THEREFORE, WE WILL NOT BE MAKING ANY ADJUSTMENT TO CLIENT'S ACCOUNT RELATING TO THE LOSSES ASSOCIATED WITH THE ANNUITY.

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