VICTOR EUGENE KARIDAKES is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at 3801 UNIVERSITY AVENUE, RIVERSIDE, CA, 92501.
VICTOR EUGENE KARIDAKES has worked at UBS FINANCIAL SERVICES INC. since March 06, 2009
Disclosure History
VICTOR EUGENE KARIDAKES has 2 Disclosure Event(s).
Date: December 11, 2014 Category: Customer Dispute Allegations: TIME FRAME: MARCH 18, 2014 TO DECEMBER 3, 2014THE CLIENT ALLEGES FEES WERE NOT DISCLOSED PROPERLY ON THE ANNUITY. THE ALLEGED DAMAGES ARE ESTIMATED TO BE IN EXCESS OF $5,000.00 Broker Comment: I DENY THE ALLEGATIONS. THIS CLIENT HAS BEEN WORKING WITH ME SINCE 1993 AND IN FACT PURCHASED AN ANNUITY IN 1993. THE CLIENT CALLED ME DURING THE 4TH QUARTER OF 2013 AND SAID THAT ANOTHER FIRM'S BROKERS WERE RECOMMENDING AN EXCHANGE INTO A NEW ANNUITY WITH MORE FEATURES. I REVIEWED THE ANNUITY IN QUESTION AND EXPLAINED ALL THE NEW FEATURES THAT WERE AVAILABLE WITH THIS PRODUCT. I ALSO EXPLAINED THAT THERE WOULD BE AN INCREASE IN FEES AND THE CLIENT WOULD HAVE A NEW SURRENDER PENALTY TIME FRAME. THE NEW ANNUITY HE AGREED TO HAS HAD A SUBSTANTIAL INCREASE IN ITS VALUE.AS FAR AS THE FUNDS IN QUESTION, THESE WERE PICKED BY THE CLIENT AGAINST MY RECOMMENDATIONS. I ADVISED HIM TO GO IN A DIFFERENT DIRECTION BUT HE PERSISTED AND MADE THESE INVESTMENTS. THE CLIENT THEN STARTED CALLING TO COMPLAIN THAT HIS LOSS WAS DUE TO THE HIGH FEES, NOT HIS INVESTMENT CHOICES. I BELIEVE ONCE THE CLIENT'S CLAIMS ARE REVIEWED, THEY WILL BE FOUND TO HAVE NO MERIT. THE CLIENT'S ACCOUNT HAS GONE UP IN VALUE DURING THE TIME OF THE COMPLAINT.
Date: September 18, 1990 Category: Customer Dispute Allegations: PAINEWEBBER IS IN RECEIPT OF THE ABOVE MATTERWHICH ALLEGES THE UNSUITABLE INVESTMENT OF VARIOUS BONDS WHICHRESULTED IN LOSSES OF $72,755.39. Damage Amount Requested: $72,755.39 Settlement Amount: $20,000.00 Broker Comment: PAINEWEBBER DENIED THE CLIENTS ALLEGATIONS.Not Provided
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