Steven Craig Henningson v. Cetera Advisor Networks LLC
Published: Nov. 29, 2019 | Result Date: Oct. 8, 2019 | Filing Date: Feb. 18, 2019 |Case number: FINRA: 19-00515 Arbitration – Claimant
Arbitrator
Attorneys
Plaintiff
Stephan Louviere
(Wolper Law Firm)
Defendant
Jeremy S. Carr
(Cetera Financial Group)
Facts
Steven Craig Henningson filed an arbitration claim against Cetera Advisor Networks LLC in relation to a customer complaint on his Central Registration Depository records.
Contentions
CLAIMANT'S CONTENTIONS: Henningson sought expungement of a customer complaint which alleged that claimant failed to discuss transfer of her deceased father's account to a tax favorable account and contended that the claim was false.
RESPONDENT'S CONTENTIONS: Respondent did not oppose the claim.
Result
The arbitrator recommended expungement of the underlying complaint, finding that claimant discussed the tax consequences of taking a cash settlement for the customer's share of an annuity and claimant recommended options for reinvesting the assets to minimize the tax consequences. The arbitrator further found that the customer was made aware that the decision to receive a lump sum payout was final and not reversible.
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