Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] Broker Issues
Date: Fri, 19 Apr 2002 10:47:05 -0400
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Thanks, Edward, knowing how both the front and back office side of a =
broker dealer works makes it easier to see the best resolution and =
solution.
Won't always work, some firms, especially some of the smaller firms, can =
be intransigent, while the larger firms may settle a small claim that =
doesn't risk setting precedent (right now Merrill has a major problem =
with the state of NY over anal ysts recommendations at the same time as =
they are soliciting new business for investment banking issues, which =
could carry over to the entire industry affecting all major wirehouses). =
But it will be always faster to try working at the local level first, =
especially on a relatively minor claim ($$ value will vary depending on =
the size and volume of the branch / firm).
Tom Worley
stkguru@bellsouth.net
AIM: TexWorley
- ----- Original Message -----=20
From: Edward W. Gjertsen II=20
To: canslim@lists.xmission.com=20
Sent: Friday, April 19, 2002 10:34 AM
Subject: RE: [CANSLIM] Broker Issues
Gene - Tom has an excellent point. I did not want to weigh in too =
heavily with my opinion as I am a NASD arbitrator. But, he is right on =
the mark in regards to working your way down from the top of your =
Broker's firm. Nice job Tom!
Edward W. Gjertsen II, CFP
Vice President
Mack Investment Securities, Inc.
ed@macktracks.com
- -----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Tom Worley
Sent: Thursday, April 18, 2002 11:14 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Broker Issues
Hi Gene,
Contrary to the other advice given, which is accurate, but not always =
the best in terms of a speedy remedy, I would suggest directly =
contacting the branch manager where the broker works. If the broker =
should happen to be the branch manager, or after contacting the branch =
manager you are still not satisfied, then find where their company =
headquarters is located, and ask to speak to the Compliance Officer.
Between the Branch Manager, and the corporate Compliance Officer, if you =
have a valid complaint you are more likely to get speedy resolution. =
Only failing this would I begin a complaint process with the regulators, =
as that can take years to complete.
If you want to discuss the specifics of the matter privately, talk to me =
at the address below, and I will give you an honest appraisal of the =
quality of your complaint, since I will not likely be formally a part of =
the industry for another few months at the earliest.
Tom Worley
stkguru@bellsouth.net
AIM: TexWorley
- ----- Original Message -----=20
From: Gene Ricci=20
To: canslim@lists.xmission.com=20
Sent: Thursday, April 18, 2002 6:11 PM
Subject: [CANSLIM] Broker Issues
Looking for the name of agency that 'oversee' brokers... or better yet =
who can one complain to if there is a problem?
Thanks,
Gene
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<DIV><FONT face=3DArial>Thanks, Edward, knowing how both the front and =
back office=20
side of a broker dealer works makes it easier to see the best resolution =
and=20
solution.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>Won't always work, some firms, especially some =
of the=20
smaller firms, can be intransigent, while the larger firms may settle a =
small=20
claim that doesn't risk setting precedent (right now Merrill has a major =
problem=20
with the state of NY over anal ysts recommendations at the same time as =
they are=20
soliciting new business for investment banking issues, which could carry =
over to=20
the entire industry affecting all major wirehouses). But it will be =
always=20
faster to try working at the local level first, especially on a =
relatively minor=20
claim ($$ value will vary depending on the size and volume of the branch =
/=20
firm).</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV>Tom Worley<BR><A=20
href=3D"mailto:stkguru@bellsouth.net">stkguru@bellsouth.net</A><BR>AIM:=20
TexWorley</DIV>
<DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
<DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20
title=3Ded@macktracks.com href=3D"mailto:ed@macktracks.com">Edward W. =
Gjertsen=20
II</A> </DIV>
<DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV><B>Sent:</B> Friday, April 19, 2002 10:34 AM</DIV>
<DIV><B>Subject:</B> RE: [CANSLIM] Broker Issues</DIV></DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">Gene =96 Tom =
has an=20
excellent point. I did not want to weigh in too heavily with my =
opinion as=20
I am a NASD arbitrator. But, he is right on the mark in regards to =
working=20
your way down from the top of your Broker=92s firm. Nice job=20
Tom!</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"></SPAN></FONT> </P>
<DIV>
<P style=3D"MARGIN-BOTTOM: 12pt"><FONT face=3D"Times New Roman" =
color=3Dnavy=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; COLOR: navy">Edward W. Gjertsen =
II,=20
CFP<BR>Vice President<BR>Mack Investment Securities, =
Inc.<BR></SPAN></FONT><FONT=20
color=3Dnavy size=3D2><SPAN style=3D"FONT-SIZE: 10pt; COLOR: navy"><A=20
href=3D"mailto:ed@macktracks.com">ed@macktracks.com</A></SPAN></FONT></P>=
</DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DTahoma =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: bold">From:</SPAN></B>=20
owner-</SPAN></FONT><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT=20
face=3DTahoma size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">=20
[mailto:owner-</SPAN></FONT><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT=20
face=3DTahoma size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">] <B><SPAN=20
style=3D"FONT-WEIGHT: bold">On Behalf Of </SPAN></B>Tom =
Worley<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> Thursday, April 18, 2002 =
11:14=20
PM<BR><B><SPAN style=3D"FONT-WEIGHT: bold">To:</SPAN></B> =
</SPAN></FONT><FONT=20
face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT=20
face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"><BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> Re: [CANSLIM] Broker=20
Issues</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial">Hi =
Gene,</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial">Contrary to the other =
advice given,=20
which is accurate, but not always the best in terms of a speedy remedy, =
I would=20
suggest directly contacting the branch manager where the broker works. =
If the=20
broker should happen to be the branch manager, or after contacting the =
branch=20
manager you are still not satisfied, then find where their company =
headquarters=20
is located, and ask to speak to the Compliance =
Officer.</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial">Between the Branch =
Manager, and the=20
corporate Compliance Officer, if you have a valid complaint you are more =
likely=20
to get speedy resolution. Only failing this would I begin a complaint =
process=20
with the regulators, as that can take years to =
complete.</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial">If you want to discuss the =
specifics=20
of the matter privately, talk to me at the address below, and I will =
give you an=20
honest appraisal of the quality of your complaint, since I will not =
likely be=20
formally a part of the industry for another few months at the=20
earliest.</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt">Tom Worley<BR><A=20
href=3D"mailto:stkguru@bellsouth.net">stkguru@bellsouth.net</A><BR>AIM:=20
TexWorley</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">----- Original Message =
- -----=20
</SPAN></FONT></P>
<DIV style=3D"font-color: black">
<P class=3DMsoNormal style=3D"BACKGROUND: #e4e4e4; MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">From:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
title=3Dgenr@swbell.net href=3D"mailto:genr@swbell.net">Gene Ricci</A>=20
</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">To:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Sent:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> Thursday,=20
April 18, 2002 6:11 PM</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Subject:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> [CANSLIM]=20
Broker Issues</SPAN></FONT></P></DIV></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Comic =
Sans MS"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt; FONT-FAMILY: 'Comic Sans =
MS'">Looking for=20
the name of agency that 'oversee' brokers... or better yet who can one =
complain=20
to if there is a problem?</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Comic =
Sans MS"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt; FONT-FAMILY: 'Comic Sans =
MS'">Thanks,</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Comic =
Sans MS"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt; FONT-FAMILY: 'Comic Sans =
MS'">Gene</SPAN></FONT></P></DIV></DIV></BODY></HTML>
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