STEPHEN EARL GARRETT is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 2003 S MYRTLE AVENUE, MONROVIA, CA, 91016.
STEPHEN EARL GARRETT has worked at LPL FINANCIAL LLC since March 29, 1993
Disclosure History
STEPHEN EARL GARRETT has 2 Disclosure Event(s).
Date: February 24, 2017 Category: Customer Dispute Allegations: CUSTOMER ALLEGES INAPPROPRIATE INVESTMENTS AND OPTIONS TRADING IN VOLATILE STOCKS CONCENTRATED IN THE OIL AND ENERGY SECTOR AND INCONSISTENT WITH CUSTOMER'S INVESTMENT OBJECTIVES. ACTIVITY PERIOD - JUNE 2014 TO DECEMBER 2015. Damage Amount Requested: $170,980.00 Settlement Amount: $62,500.00 Broker Comment: IT IS A MATHEMATICAL CERTAINTY THAT ON ANY GIVEN DAY, MONTH OR YEAR HALF OF THE COMPANY'S STOCKS OFFERED FOR SALE WILL UNDERPERFORM THE OTHER HALF. LOSING MONEY IN THE STOCK MARKET IS A PART OF INVESTING FOR PROFITS. IT HAS NEVER BEEN THE CASE THAT INVESTMENT ADVISORS AND BROKERS SHARE IN THE PROFITS OF THE INVESTORS AND INVESTORS SHOULD NOT EXPECT THOSE SAME INVESTMENT ADVISORS AND BROKERS TO UNDERWRITE THEIR LOSSES. IT IS AN UNFORTUNATE REALITY THAT THE COST OF DEFENDING AGAINST A FRIVOLOUS CLAIM IS SIGNIFICANTLY LARGER THAN SETTLING WITH A DISAPPOINTED INVESTOR. IN THAT WAY, SUCH AS SETTLEMENT IS MERELY A WAY OF PAYING EXTORTION TO AVOID COSTLY LITIGATION AND TIME CONSUMING.
Date: September 08, 1987 Category: Customer Dispute Allegations: [CUSTOMER] MADE A CLAIM THAT I COST HIM$10,000 IN OPPORTUNITY BY NOT GIVING HIM GOOD ADVISE AND THAT IDID NOT GIVE HIM CORRECT PRICES ON OPTIONS. Damage Amount Requested: $10,000.00 Settlement Amount: $15,527.00 Broker Comment: MERRILL LYNCH SETTLED THE CLAIM IN OCTOBER 1987.[CUSTOMER] WAS PAID CLOSE TO $10,000.NOT PROVIDED
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