TODD EDWARD WILKINSON

TODD EDWARD WILKINSON is currently employed as a Broker and/or Investment Adviser at CANTELLA & CO., INC. located at 1422 S. 18TH ST., PRAIRIE DU CHIEN, WI, 53821.

TODD EDWARD WILKINSON has worked at CANTELLA & CO., INC. since January 02, 2003

Disclosure History

TODD EDWARD WILKINSON has 1 Disclosure Event(s).

Date: January 02, 2002
Category: Customer Dispute
Allegations: CLIENTS STATE WILKINSON RECOMMENDED THEY SELL SHARES OF PIONEER FUNDS AND TRANSFER THE PROCEEDS TO EDWARD JONES. CLIENTS ALLEGE WILKINSON DID NOT INFORM THEM THERE WOULD BE CAPITAL GAINS ASSOCIATED WITH THE SALE OF THE PIONEER FUNDS AND AS A RESULT OF THE SUBSTANTIAL TAX BURDEN (13,867), THEY TOOK A MARGIN LOAN IN THE AMOUNT OF $12,000.00. CLIENT STATES, HAD WILKINSON PROPERLY INFORMED THEM OF THE CAPITAL GAINS TAX LIABILITY, THEY WOULD HAVE LIQUIDATED AND TRANSFERRED THE ACCOUNT IN SMALLER INCREMENTS. ALSO, CLIENTS ALLEGE THE FUNDS WILKINSON SUGGESTED HAVE DECLINED APPROXIMATELY 40% WHILE THE FUNDS THEY PREVIOUSLY HELD AT PIONEER HAVE DECLINED 12%. CLIENT REQUESTS THE FIRM REINSTATE THE PIONEER FUNDS AND ASSUME RESPONSIBILITY FOR THEIR TAX LIABILITY. CLAIMEXCEEDS $5,000.00.
Damage Amount Requested: $5,000.00
Broker Comment: ACCORDING TO WILKINSON, HE MET WITH THE CLIENTS PRIOR TO THE ACCOUNT TRANSFERRING AT WHICH TIME THE CLIENTS INDICATED THEY WERE NOT SATISFIED WITH THE PERFORMANCE OF THE ACCOUNTS MAINTAINED AT ANOTHER FIRM. WILKINSON HAS INDICATED, ALTHOUGH HE DOES NOT RECALL SPECIFICS REGARDING A CONVERSATION IN SEPTEMBER 2000, HE TYPICALLY INFORMS CLIENTS TO CONSULT WITH A QUALIFIED TAX PROFESSIONAL WITH QUESTIONS REGARDING TAX CONSEQUENCES ASSOCIATED WITH TRANSACTIONS. AT THE TIME OF THE TRANSACTIONS, THE CLIENTS WOULD HAVE RECEIVED TRADE CONFIRMATIONS AS WELL AS THE APPROPRIATE MUTUAL FUND PROSPECTUSES. IN ADDITION, THE CLIENTS HAVE RECEIVED STATEMENTS. BASED ON OUR REVIEW, THE TRANSACTIONS WERE AUTHORIZED. EXPLAINED THE DECLINE IN THE ACCOUNT VALUEIS ATTRIBUTED TO MARKET FLUCTUATION. CLAIM DENIED.

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