TERENCE GAGE MC CORMICK

TERENCE GAGE MC CORMICK is currently employed as a Broker and/or Investment Adviser at AMERIPRISE FINANCIAL SERVICES, INC. located at 50 NASHUA RD, STE 202, LONDONDERRY, NH, 03053.

TERENCE GAGE MC CORMICK has worked at AMERIPRISE FINANCIAL SERVICES, INC. since May 22, 1986

Disclosure History

TERENCE GAGE MC CORMICK has 1 Disclosure Event(s).

Date: July 25, 2008
Category: Customer Dispute
Allegations: THE CLIENT ALLEGED SHE WAS TOLD THERE WOULD BE NO SURRENDER CHARGE ASSESSED ON A NOVEMBER 2007 ANNUITY REPLACEMENT; HOWEVER SHE CLAIMED SHE WAS ASSESSED A SURRENDER CHARGE OF $13,250.00 AND THE CURRENT SURRENDER CHARGE IS $33,439.97 WHICH REPRESENTS A CHANGE OF MORE THAN $46,000.00. THE CLIENT CLAIMED THERE WAS NO "DEFINED BENEFIT" FOR MAKING THSI CHANGE OTHER THAN THE COMMISSIONS PAID. THE CLIENT REQUESTED REINSTATEMENT FO THE PREVIOUS ANNUITY.
Damage Amount Requested: $46,000.00
Settlement Amount: $13,250.00
Broker Comment: THE REVIEW FOUND THE $13,250.00 SURRENDER CHARGE ON THE EXCHANGED ANNUITY WAS NOT DISCLOSED AT THE TIME OF THE EXCHANGE. THE NEW ANNUITY POSSESSED A RIDER WHICH APPEARED SUITABLE AND THE CLIENT ACKNOWLEDGED WANTING TO PURCHASE. THE CLIENT RECEIVED A SETTLEMENT OF $13,250.00 WHICH REPRESENTS THE SURRENDER CHARGE PAID.

More Information

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