THOMAS EDWARD VERMEULEN is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 1220 COUNTY CENTER DR W, WATERFORD, MI, 48328-1904.
THOMAS EDWARD VERMEULEN has worked at LPL FINANCIAL LLC since December 05, 2003
Disclosure History
THOMAS EDWARD VERMEULEN has 1 Disclosure Event(s).
Date: April 26, 2011 Category: Customer Dispute Allegations: CUSTOMER ALLEGES THAT A LIQUIDATION AND WITHDRAWAL INSTRUCTION WAS ERRONEOUSLY PROCESSED TWICE, RESULTING IN LOST MARKET OPPORTUNITY WHILE ASSETS WERE NOT INVESTED. ACTIVITY PERIOD 3/08 TO 10/08. Damage Amount Requested: $13,500.00 Settlement Amount: $13,190.40 Broker Comment: DUE TO PROCESSING ERROR, CLIENT'S WITHDRAWAL INSTRUCTION WAS PROCESSED TWICE BY OUTSIDE MONEY MANAGER, RESULTING IN MARKET LOSSES AFTER CORRECTION. CUSTOMER ALSO CLAIMED HE NEVER RECEIVED NOTIFICATION OF THE DUPLICATE WITHDRAWALS FROM THE OUTSIDE CUSTODIAN. NOTWITHSTANDING THE FACT THAT THE ERROR OCCURRED OUTSIDE OF THE FIRM, AND RESPONSIBILITY LAY WITH OTHER PARTIES, THE ADVISOR AND FIRM MADE A BUSINESS DECISION TO COVER THE COST OF CORRECTION AS A COURTESY TO THE CUSTOMER.
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