TODD MICHAEL GERDES is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 120 SW CROWELL WAY, SUITE 100, BEND, OR, 97702.
TODD MICHAEL GERDES has worked at LPL FINANCIAL LLC since November 14, 2003
Disclosure History
TODD MICHAEL GERDES has 1 Disclosure Event(s).
Date: September 16, 2003 Category: Customer Dispute Allegations: THE CLIENT HAD COME TO ME FOR ADVICE ON HOW TO TAKE MONEY FROM HER EXISTING ALLMERICA VARIABLE ANNUITY. I ASSISTED HER IN WITHRAWING IN EXCESS OF $200,000 FROM THE ANNUITY AND HAD INSTRUCTED HER TO CHECK WITH HER CPA FOR THE TAX IMPLICATIONS. SHE WITHDREW THE FUNDS IN FEBRUARY 2003. IN JULY OF 2003, SHE WENT TO HER CPA FOR THE TAX IMPLICATIONS, WHICH HE INFORMED HER THAT SHE OWED $34,542 IN FEDERAL AND STATE INCOME TAXES. SHE ALLEGED THAT I HAD TOLD HER THAT THE WITHDRAWAL WOULD BE TAX-FREE. THE ALLEGATION DEALS WITH THE TAX IMPACT OF THE WITHDRAWAL FROM THE VARIABLE ANNUITY. Damage Amount Requested: $34,542.00 Broker Comment: I BELIEVE THAT I GAVE THE CLIENT ENOUGH INFORMATION ABOUT THE TRANSACTION THAT SHE SHOULD HAVE KNOW TAXES WOULD BE DUE. SHE JUST DOESN'T WANT TO PAY THE TAXES SHE OWES.
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