TIMOTHY WAYNE BALTZER is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 294 E GROVE LN STE 180, WAYZATA, MN, 55391.
TIMOTHY WAYNE BALTZER has worked at WELLS FARGO CLEARING SERVICES, LLC since May 20, 2004
Disclosure History
TIMOTHY WAYNE BALTZER has 2 Disclosure Event(s).
Date: April 28, 2009 Category: Customer Dispute Allegations: TIME FRAME: 10/07/2003 TO 10/23/2003 THE CLIENT ALLEGES THAT HIS FINANCIAL ADVISOR MISREPRESENTED HIS AUCTION RATE SECURITIES AS SAFE AS THE GOVERNMENT, BEING LIKE CASH AND IT WOULD BE AVAILABLE WITH A WEEKS NOTICE. THE CLIENT FURTHER ALLEGES THAT INVESTING MORE THAN FIFTY PERCENT OF HIS PERSONAL ASSETS IN AUCTION RATE SECURITIES WAS NOT SUITABLE DUE TO HIS AGE Damage Amount Requested: $50,000.00 Settlement Amount: $50,000.00 Broker Comment: THE COMPLAINT AROSE IN CONNECTION WITH THE INDUSTRY WIDE BREAKDOWN OF THE LIQUIDITY IN THE MARKET FOR AUCTION RATE SECURITIES ("ARS"). THE FIRM AGREED TO REPURCHASE THE ARS SECURITIES AT ISSUE AT PAR VALUE FROM THE CLIENT PURSUANT TO A GLOBAL REPURCHASE AGREEMENT IT ENTERED INTO WITH SEVERAL REGULATORY BODIES. THIS WAS NOT A SETTLEMENT OF A DISPUTE BETWEEN THE CLIENT AND THE REPRESENTATIVE AND WAS NOT BASED ON THE MERITS OF THE CLIENT'S SPECIFIC CONCERNS OR ANY FINDING OF FAULT OR WRONGDOING BY THE NAMED REPRESENTATIVE. THE NAMED REPRESENTATIVE WAS NOT PARTY TO, AND DID NOT AGREE TO OR PARTICIPATE IN, THE REPURCHASE AGREEMENT BETWEEN THE FIRM AND THE RELEVANT REGULATORY BODIES. THE NAMED REPRESENTATIVE DID NOT MAKE ANY PAYMENTS TO THE CLIENT AND THE NAMED REPRESENTATIVE WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE SETTLE AMOUNT. THE LISTED "SETTLEMENT AMOUNT" REPRESENTS ONLY THE GROSS INITIAL PAR VALUE OF THE ARS POSITION AND DOES NOT TAKE INTO ACCOUNT THE ACTUAL VALUE OF THE ARS POSITION AT THE TIME THE FIRM RECEIVED IT BACK FROM THE CLIENT IN CONNECTION WITH THE SETTLEMENT. THIS MATTER IS BEING REPORTED AS A SETTLEMENT PURSUANT TO THE REQUIREMENTS OF FINRA REGULATORY NOTICE 09-12.
Date: December 05, 2005 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT "MY ACCOUNT HAS BEEN TRADED ON OVER 46 TIMES IN A TWO YEAR PERIOD WITH ALL TRADES RESULTING A LOSS OF MONEY. I AM 75 YEARS OLD WITH AILING HUSBAND AND CAN'T UNDERSTAND WHY THEY WOULD TRADE ON MY ACCOUNT SO MANY TIMES. THEY WERE TO CONSERVE MY MONIES KNOWING MY HUSBAND WAS GOING TO HAVE TO GO TO A NURSING HOME." Damage Amount Requested: $80,000.00 Broker Comment: CUSTOMER HAS SINCE WRIITEN LETTER INDICATING SHE HAD NO KNOWLEDGE OF THE COMPLAINT AND THE INQUIRE WAS INITIATED BY HER SON-IN-LAW WITHOUT HER CONSENT. HER ACCOUNTS HAVE, AND CONTINUE TO BE, INVESTED WITH TIMOTHY BALTZER IN A FEE BASED ASSET ALLOCATED MUTUAL FUND PROGRAM.
More Information
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