WILLIAM TERRENCE EICHINGER is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 4848 COMMERCIAL DR STE 900, NEW HARTFORD, NY, 13413.
WILLIAM TERRENCE EICHINGER has worked at WELLS FARGO CLEARING SERVICES, LLC since August 05, 2000
WILLIAM TERRENCE EICHINGER has 6 Disclosure Event(s).
Date: June 16, 2010 Category: Customer Dispute Allegations: THE CLIENT ALLEGES THAT TRADES ENTERED IN HER ACCOUNT WERE NOT AUTHORIZED BY HER. SHE ALSO ALLEGES THAT TRADING WAS EXCESSIVE IN HER ACCOUNT AND NOT SUITABLE FOR HER BECAUSE SHE WAS APPROACHING RETIREMENT. (01/01/2008-12/31/2008) Damage Amount Requested: $89,472.00
Date: December 18, 2008 Category: Customer Dispute Allegations: NY RESIDENT WRITES THAT THE ROCHESTER MUNI FUND WAS UNSUITABLE BASED ON RISK TOLERANCE AND TIME HORIZON. INVESTED $74,853 ON 6/12/07, CURRENTLY VALUED AT $21,695.90. Damage Amount Requested: $21,695.90 Settlement Amount: $11,151.00 Broker Comment: THIS MATTER WAS PREVIOUSLY DENIED, NOW THE RESOLUTION HAS BEEN CHANGED TO A SETTLEMENT IN THE AMOUNT OF $11,151. FA CERTAIN THAT HE ACCURATELY EXPLAINED THE BOND FUND TO CLIENT. AT THE TIME INVESTMENT WAS MADE THE FUND WAS A 5-STAR MORNINGSTAR FUND WITH AVERAGE CREDIT RATING OF A. INVESTMENT WAS OTHERWISE APPROPRIATE BASED ON CLIENT'S RISK TOLERANCE, INVESTMENT OBJECTIVE AND TIME HORIZON. CLAIM DENIED.
Date: September 08, 2006 Category: Customer Dispute Allegations: NY CLIENT STATES THAT HER FA MADE UNSUITABLE INVESTMENTS, UNAUTHORIZED TRADES AND FREQUENTLY TRADED THE SAME SECURITIES IN HER AND HER HUSBAND'S ACCOUNTS. EXACT LOSS UNSPECIFIED, ESTIMATED AT APPROXIMATELY $90,000 FROM 1997 THROUGH AUGUST 2006. Damage Amount Requested: $90,000.00 Broker Comment: CLIENTS KNOWINGLY TRADED IN SPECULATIVE EQUITIES AND HAD DONE SO OVER A LONG PERIOD OF TIME. LOSSES DUE TO OVERALL MARKET DECLINE. CLAIM DENIED.
Date: October 15, 1996 Category: Customer Dispute Allegations: CLIENT CLAIMED LIFE INSURANCE PREMIUM COSTS WERE MISREPRESENTED. Settlement Amount: $15,000.00 Broker Comment: $15000 IN ADITIONAL PREMIUMS WERE MADE TO [CUSTOMER'S] POLICY. [CUSTOMER] PURCHASED A LIFE INSURANCE POLICY(UNIVERSAL LIFE) FROM UNION CENTRAL LIFE INS. CO. ALL PREMIUMS AND DISCLOSURE WERE GIVEN TO [CUSTOMER] FROM UNION CENTRAL FOR HIS APPROVAL. [CUSTOMER] ACCEPTED AND APPROVED ALL POLICY CONDITIONS IN 1994. IN 1996 [CUSTOMER] CLAIMED THAT PREMIUM COSTS WERE NOT WHAT HE UNDERSTOOD. ALL INFORMATION WAS PROVIDED TO HIM AND ACCEPTED AT THE TIME.
Date: August 29, 1996 Category: Customer Dispute Allegations: ALLEGATIONS: SOLD INSURANCE POLICY WITHOUT COMPANY APPROVAL. [CUSTOMERS] CLAIM DAMAGES OF $200,000. CLIENT MOVED THE INSURANCE POLICY TO ANOTHER COMPANY. EMPLOYING FIRM AT TIME OF EVENT: MERRILL LYNCH Damage Amount Requested: $200,000.00 Broker Comment: I SOLD AN INSURANCE POLICY TO [CUSTOMER] NOT AN ANNUITY, THIS WAS SOLD THROUGH A NON-APPROVED MERRILL LYNCH COMPANY. AFTER A YEAR WENT BY THE CLIENT WANTED TO MAKEANOTHER CHANGE. [CUSTOMER] TRANSFERRED TO ANOTHER COMPANY(METROLPOLITAN LIFE INSURANCE CO.). METROPOLITAN THEN CAUSED [CUSTOMER] TO INCUR A TAX LIABILITY AND SOLD HIM A POLICY WITH LESS DEATH BENEFIT. [CUSTOMER] CLAIMS THIS IS MY FAULT.
Date: August 19, 1996 Category: Employment Separation After Allegations Firm Name: MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED Termination Type: Discharged Allegations: N/AALLEGATIONS: SOLD AN INSURANCE POLICY TO ACUSTOMER WITHOUT THE APPROVAL OF EMPLOYER MERRILL LYNCH. Broker Comment: DISCHARGED FROM MERRILL LYNCHNOT PROVIDED
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