WILLIAM KERMIT HALL is currently employed as a Broker and/or Investment Adviser at SECURITIES AMERICA ADVISORS, INC. located at , SAN CLEMENTE, CA, .
WILLIAM KERMIT HALL has worked at SECURITIES AMERICA ADVISORS, INC. since February 22, 1991
WILLIAM KERMIT HALL is also currently employed as a Broker and/or Investment Adviser at ARBOR POINT ADVISORS located at San Clemente, CA since January 01, 1970
WILLIAM KERMIT HALL is also currently employed as a Broker and/or Investment Adviser at SECURITIES AMERICA, INC. located at 251 AVENIDA VISTA DEL OCEANO, SAN CLEMENTE, CA, 92672-4548 since January 01, 1970
WILLIAM KERMIT HALL has 2 Disclosure Event(s).
Date: October 04, 1994 Category: Customer Dispute Allegations: CLIENT CLAIMED THAT SIGNIFICANT ACTUAL LOSSESON INVESTMENTS IN IDM LIMITED PARTNERSHIPS AND OTHERINVESTMENTS HAD OCCURRED OR WOULD OCCUR DUE TO FORECLOSURES ANDBANKRUPTCY PROCEEDINGS. CLIENT HAD CONTACTED A CONTINGENCYATTORNEY AND STATED THAT SHE INTENDED TO INITIATE LEGAL ACTION.NO SPECIFIC TOTAL AMOUNT OF LOSS WAS STATED. Damage Amount Requested: $30,000.00 Settlement Amount: $30,000.00 Broker Comment: THE CLIENT RRECEIVED $30,000 TO AVOIDLITIGATION. HALL WAS ADVISED THAT THE DEFENSE OF THE LITIGATIONWOULD COST $30,000 TO COMPLETE.LINDQUIST AGREED TO ACCEPT THEPAYMENT IN FULL SETTLEMENT WITHOUT THE ADMISSION OF LIABILITYON THE PART OF ANY PARTY.CLIENT WAS A COLLEGE EDUCATED $200,000 PLUSANNUAL INCOME (NET WORTH GREATER THAN $1,000,000) PRESIDENT OFAN EXECUTIVE SEARCH FIRM ENGAGED IN PLACING EXECUTIVES IN THEREAL ESTATE INDUSTRY. CLIENT CALLED EXECUTIVES IN THE INDUSTRYBEFORE MAKING EACH INVESTMENT. CLEINT ALLEGED IGNORANCE OF REALESTATE AND THE RISKS OF REAL ESTATE INVESTMENTS AND THAT SHETOTALLY RELIED ON HALL.
Date: July 30, 1993 Category: Customer Dispute Allegations: ALLEGATIONS WERE CONCERNED WITH SUITABILITY,ACCOUNT RELATED NEGLIGENCE AND BREACH OF FIDUCIARY REGARDING ANIDM LIMITED PARTNERSHIP $50,000, A TRUST DEED $35,000, ANDSTOCK AND MUTUAL FUNDS TRADES OF $11,852. CLIENT'S INVESTMENTOBJECTIVE WAS HIGH INCOME. PROSPECTUS AND ALL RELEVANT DATAWERE PROVIDED. TOTAL INVESTMENTS WERE $175,934. TOTAL NETREALIZED GAINS INCLUDING DIVIDENDS AND INTEREST LESS LOSSESWERE $38,982 AS OF 09/01/93. Damage Amount Requested: $100,000.00 Settlement Amount: $50,000.00 Broker Comment: THE ERROR & OMMISSIONS INSURANCE COMPANY WASSETTLING ALL CASES AS RAPIDLY AS POSSIBLE TO SAVE ON LEGAL ANDEXPERT WITNESS COSTS AND TO THEN MOVE OUT OF THE E & O LINE OFBUSINESS. A QUICK SETTLEMENT WAS NEGOTIATED FOR THE SUM OF$50,000.THE $50,000 LIMITED PARTNERSHIP INVESTMENTCONSISTED OF MORTGAGES ON CLASS "A" REAL ESTATE WITH IDM CORPWHICH HAD 20 YRS OF SUCCESS. IDM SUCCESSFULLY EMERGED FROMCHAPTER 11 ON 3-22-93. THE COURT HAS AUTHORIZED THE ISSUE OFSTOCK TO INVESTORS. THE VALUE HAS YET TO BE DETERMINED.**THEPRINCIPALS OF PHILLIPS FINANCIAL CORP WHICH ISSUED THE $45,000TRUST DEED WERE LATER CONVICTED OF FRAUD REGARDING A NUMBER OFTRUST DEEDS AND SENTENCED TO PRISON TERMS OF UP TO 7 YEARS. THEVALUE OF THE T.D. IS UNKNOWN DUE TO CHAPTER 11PROCEEDINGS.**THE CLIENT HAD A REAL ESTATE SALES LICENSE ANDWAS FULLY AWARE OF THE RISKS AND BENEFITS OF REAL ESTATEINVESTMENTS.
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