STEVEN MARK SCHROEDER is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 2155 LOUISIANA BLVD NE #10100, ALBUQUERQUE, NM, 87110-5485.
STEVEN MARK SCHROEDER has worked at LPL FINANCIAL LLC since April 20, 1990
Disclosure History
STEVEN MARK SCHROEDER has 4 Disclosure Event(s).
Date: October 21, 1993 Category: Customer Dispute Allegations: NO ALLEGATIONS WERE MADE AGAINST ME (STEVENM. SCHROEDER). CLIENTSUBMITTED CLAIM AGAINST PRUDENTIAL SECURITIES RELATING TOLIMITED PARTNERSHIPS HE PURCHASED FROM PURDENTIAL SECURITIES. Damage Amount Requested: $18,198.00 Settlement Amount: $15,254.00 Broker Comment: PRUDENTIAL SECURITIES SETTLED THE CLAIM FORAPPROXIMATELY $15,254.IN A SETTLEMENT BETWEEN PRUDENTIAL SECURITIES ANDTHE SEC, NASD AND STATE SECURITIES ADMINISTRATORS FOR LIMITEDPARTNERSHIP SALES FROM 1/1/80 TO 1/1/91 PRUDENTIAL SECURITIESSOLICITED AND RESOLVED CLAIMS FOR OVER 340,000 INVESTORS. I WASNOT NAMED IN THIS CLAIM. THERE WERE NO ALLEGATIONS MADE AGAINSTME. I WAS NOT INVOLVED IN ITS RESOLUTION. [CUSTOMER]HAS BEEN ACLIENT CONTINUOUSLY SINCE 1980 (18 YEARS). HE IS A CLIENTTODAY.I DID NOT PAY ANY OF SETTLEMENT AMOUNT. COMPLAINT WAS BETWEEN [CUSTOMER] AND PRUDENTIAL.
Date: October 21, 1993 Category: Customer Dispute Allegations: NO ALLEGATIONS WERE MADE AGAINST ME (STEVENM. SCHROEDER). CLIENTS SUBMITTED CLAIM AGAINST PRUDENTIALSECURITIES RELATING TO LIMITED PARTNERSHIPS THEY PURCHASED FROMPRUDENTIAL SECURITIES. Damage Amount Requested: $24,325.00 Settlement Amount: $42,318.00 Broker Comment: PRUDENTIAL SECURITIES SETTLED THE CLAIM FORAPPROXIMATELY $42,318.IN A SETTLEMENT BETWEEN PRUDENTIAL SECURITIES ANDTHE SEC, NASD AND STATE SECURITIES ADMINISTRATORS FOR LIMITEDPARTNERSHIP SALES FROM 1/1/80 TO 1/1/91 PRUDENTIAL SECURITIESSOLICITED AND RESOLVED CLAIMS FOR OVER 340,000 INVESTORS. I WASNOT NAMED IN THIS CLAIM. THERE WERE NO ALLEGATIONS MADE AGAINSTME. I WAS NOT INVOLVED IN ITS RESOLUTION.I DID NOT PAY ANY OF THE SETTLEMENT AMOUNT.
Date: February 01, 1992 Category: Customer Dispute Allegations: NO ALLEGATIONS WERE MADE AGAINST ME. THECOMPLAINT WAS AGAINST PRUDENTIAL SECURITIES. I WAS NOT NAMED INTHE COMPLAINT. Damage Amount Requested: $155,350.00 Settlement Amount: $80,000.00 Broker Comment: PRUDENTIAL SECURITIES MADE A TOTAL PAYMENT OF$80,000.I WAS NOT INVOLVED IN THIS PROCEEDING AT ALL.THE COMPLAINT WAS AGAINST PRUDENTIAL SECURITIES. I WAS NOTNAMED IN THE COMPLAINT. THERE WERE NO ALLEGATIONS MADE AGAINSTME. I DIDN'T KNOW THERE WAS A COMPLAINT UNTIL SHORTLY BEFORE ITWAS SETTLED.
Date: November 01, 1990 Category: Customer Dispute Allegations: THE ARBITRATION WAS BETWEEN PRUDENTIAL-BACHESECURITIES AND [CUSTOMER]. THE ALLEGATIONS WERE UNSUITABLEINVESTMENTS AND CHURNING. Damage Amount Requested: $30,000.00 Broker Comment: THIS WAS BETWEEN PRUDENTIAL AND CLIENT. I WAS NOT NAMED AND I WAS NOT APART OF THE AWARD FOR DOLLAR AMOUNT. I BELIEVE (ALTHOUGH I HAVE NO ACTUALCONFIRMATION OF THIS) THAT THE PANEL AWARDED THE RECISION OFFOUR LIMITED PARTNERSHIPS, EACH HAVING AN INITIAL INVESTMENT OF$30,000, PLUS THE COSTS OF THE HEARING. APPARENTLY, THE PANELFOUND NO EVIDENCE OF CHURNING.THE 4 PARTNERSHIPS WERE PART OF A DIVERSIFIEDINVESTMENT PROGRAM ESTABLISHED 1983, EXCEEDING $300,000. THEPORTFOLIO INCLUDED STOCKS, BONDS, MUTUAL FUNDS, AND ANNUITIES.THE PARTNERSHIPS WERE NON-LEVERAGED REAL ESTATE, ENERGY, ANDAIRCRAFT LEASING. IN 1983, [CUSTOMER] DETERMINED THAT HERINCOME WAS ADEQUATE. HER INVESTMENT GOAL WAS LONG-TERM GROWTH.SHE LATER BECAME ILL WITH CANCER WHICH CAUSED HER EXPENSES TORISE ABOVE WHAT SHE ORIGINALLY ANTICIPATED. WITH THAT, ANDGIFTS TO FAMILY OF OVER $60,000, THE PORTFOLIO WAS UNABLE TOGENERATE THE CASH FLOW NOW NEEDED. SHE THEN CLAIMED THEPARTNERSHIPS AND ANNUITIES WERE UNSUITABLE BECAUSE THEY DID NOTPROVIDE NEEDED LIQUIDITY. ANNUITIES ARE LIQUID. I BELIEVE THEPARTNERSHIPS WERE SUITABLE INVESTMENTS AT THE TIME THEY WEREMADE.
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