THOMAS CHARLES OBERLE is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at 401 EAST LAS OLAS BOULEVARD, LAS OLAS CENTRE, FT. LAUDERDALE, FL, 33301.
THOMAS CHARLES OBERLE has worked at UBS FINANCIAL SERVICES INC. since March 24, 2003
THOMAS CHARLES OBERLE has 2 Disclosure Event(s).
Date: September 18, 2012 Category: Customer Dispute Allegations: TIME FRAME: 2006 - 2011CLIENT ALLEGES THAT FA FAILED TO RECOMMEND A STRATEGY TO REDUCE THE RISK OF HER CONCENTRATED POSITION IN CISCO 5. PRODUCT TYPE(S): (SELECT ALL THAT APPLY) Damage Amount Requested: $100,000.00 Settlement Amount: $30,000.00 Broker Comment: I BELIEVE THESE CLAIMS TO BE WITHOUT MERIT. IN FACT, I RECOMMENDED ON MULTIPLE OCCASIONS THAT THE CLIENT REDUCE THEIR CISCO POSITION TO PAY OFF THE MARGIN BALANCE. MY NUMEROUS ATTEMPTS TO DISCUSS THE RISKS ASSOCIATED WITH CARRYING A MARGIN BALANCE WITH THE CLIENT WERE MET WITH HER REFUSAL TO SPEAK WITH ME AND A REQUEST THAT I NOT CONTACT HER FURTHER. THIS SETTLEMENT DOES NOT REFLECT ANY ACKNOWLEDGEMENT OR ADMISSION OF ANY LIABILITY OR MISCONDUCT ON MY PART WHATSOEVER. THE FIRM, WHO ALSO DENIED THE ALLEGATIONS, MADE A BUSINESS DECISION TO SETTLE THIS MATTER TO AVOID THE POTENTIAL COSTS AND UNCERTAINTIES OF THE ARBITRATION FORUM. I WAS NOT ASKED TO NOR DID I CONTRIBUTE ANY AMOUNT TOWARDS THE SETTLEMENT.
Date: June 05, 2012 Category: Customer Dispute Allegations: CLIENT ALLEGES FINANCIAL ADVISOR FAILED TO SELL ALL STOCK IN ACCOUNT WHEN INSTRUCTED TO LIQUIDATE PORTFOLIO. TIME FRAME: OCTOBER 1, 2008 - JUNE 5, 2012. Broker Comment: I DENY THE ALLEGATIONS AS I NEVER RECEIVED A SELL ORDER FROM THE CLIENT. I HAD NUMEROUS CONVERSATIONS WITH THE CLIENT OVER MEMC ELECTRONICS. EACH TIME SHE ASKED "WHAT SHOULD I DO" AND EACH TIME, I READ HER THE UBS RESEARCH (AND SENT IT TO HER) THAT SAID BUY. AT THE END OF EACH CONVERSATION, I DID NOT HAVE A SELL ORDER. THE CLIENT TRANSFERRED THE ACCOUNT TO ANOTHER FIRM IN LATE 2008 AND THROUGH THE YEARS AND WHEN SHE HAS CALLED I HAVE QUOTED UBS RESEARCH, STILL BUY." AS A REGISTERED BROKER, I CANNOT ACT ON ANY TRANSACTION WITHOUT THE EXPRESSED CONSENT OF THE CLIENT - WHICH I NEVER RECEIVED. FOR THE CLIENT TO COME BACK NOW, AFTER THIS LENGTH OF TIME, AND MAKE THESE ALLEGATIONS AFTER THE TIME I SPENT WITH HER REGARDING THIS INVESTMENT IS DISAPPOINTING.
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