ANCORA TO: [redacted] Revdex.com FROM: Ancora Advisors, LLC SUBJECT: Case ID [redacted] DATE: June 24, At the time of the transaction in question, The Ancora Group, Incowned two separate and distinct entitiesIt owned an SEC Registered Investment Adviser, Ancora Advisors, LLC and a broker dealer, Ancora Securities, IncThis particular client is not now, and has never been, a client of Ancora Advisors, LLCThe client did, however, maintain a brokerage account with Ancora SecuritiesTherefore, this complaint is incorrectly directed towards Ancora AdvisorsThe client claims that they lost their entire $20,investment when in fact our records show an original account funding of $49,on June 19, and the client ending up withdrawing $39,in January of which would mean the account declined less than $10,We have records that support this assertionUpon review of the brokerage new account agreement, the client selected a Risk Exposure of "Moderate" and an Account Investment Objective of "Income"The client purchased a bond mutual fund with the funds placed in the brokerage accountA review of the bond mutual fund in purchased confirms that this recommendation was entirely appropriate for a client with that Risk Exposure and Account Investment ObjectiveAgain, we have records that support this assertionUnfortunately, for all parties involved, the market experienced a near unprecedented collapse beginning in August of When the client discussed the security in question with the broker, the broker recommended to the client to stay in the investment because he felt the underlying holdings of the bond fund were sound and the fund would return to its normalized levelsHowever, the client chose to liquidate the bond mutual fund September 17, It should be noted that the bond fund did indeed return to normalized levels within the next six monthsAncora Securities informs all clients that all investments bear riskAdditionally, the client was furnished with a prospectus at the time of purchase which details all risks and expenses associated with the bond mutual fundFurthermore, the client never directly approached Ancora Securities to relay their concerns that the investment was inappropriateThis complaint through the Revdex.com which was received June 24, 2015, is the first notification the firm has received and it is seven years since the investment was sold, despite the fact that the client has maintained a personal relationship with the broker since the investment in question.Ancora Securities is disappointed to hear of this client's experience with our company Ancora Securities always aims to satisfy all of its clients by tailoring specific investment recommendations to each of its clients In light of all the facts surrounding this particular complaint and the nature of investments, Ancora Securities does not believe that any sort of reimbursement is appropriate Moreover, we would request that the Revdex.com not publically disclose this complaint in light of all the facts and circumstances.Please feel free to reach out to us with any questions or concerns you may have We are more than willing to provide any information that supports our claims
I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below Please see the attached document Regards, [redacted]
TO: [redacted] , Revdex.comFROM: Ancora Advisors, LLCSUBJECT: Case ID [redacted] DATE: July 20, 2015The Ancora Group, Incwould like to reiterate that at the time of the transaction in question, The Ancora Group, Incowned two separate and distinct entities It owned an SEC Registered Investment Adviser, Ancora Advisors, LLC and a broker dealer, Ancora Securities, Inc This particular client is not now, and has never been, a client of Ancora Advisors, LLC The client did, however, maintain a brokerage account with Ancora Securities Therefore, this complaint is incorrectly directed towards Ancora AdvisorsIt is apparent after reading the client’s response that the reason this issue is being brought up after seven years is to settle a personal dispute that took place with the broker outside of our company The client is clearly trying to manipulate the Revdex.com’s system to besmirch the sterling reputation of our firm.Ancora Securities maintains that the accusation that no information was provided to the client on the investment and its risks is patently false Ancora Securities informs all clients that all investments, including annuities, bear risk Additionally, the client was furnished with a prospectus at the time of purchase which details all risks and expenses associated with the bond mutual fund As detailed in our previous response, Ancora Securities has documentation that supports all of our assertions Ancora Securities is disappointed to hear of this client’s experience with the company Ancora Securities always aims to satisfy all of its clients by tailoring specific investment recommendations to each of its clients However, after reviewing the details surrounding this particular complaint and the nature of investments, Ancora Securities does not believe that any sort of reimbursement is appropriate Furthermore, the client may want to consult with their legal counsel prior to making any more potentially damaging, unsubstantiated claims directed toward the firm in order to settle their personal dispute Ancora Securities hopes this response serves as the final information necessary to close this matterPlease feel free to reach out to us with any questions or concerns you may have We are more than willing to provide any information that supports our claims
ANCORA TO: [redacted] Revdex.com FROM: Ancora Advisors, LLC SUBJECT: Case ID [redacted] DATE: June 24, At the time of the transaction in question, The Ancora Group, Incowned two separate and distinct entitiesIt owned an SEC Registered Investment Adviser, Ancora Advisors, LLC and a broker dealer, Ancora Securities, IncThis particular client is not now, and has never been, a client of Ancora Advisors, LLCThe client did, however, maintain a brokerage account with Ancora SecuritiesTherefore, this complaint is incorrectly directed towards Ancora AdvisorsThe client claims that they lost their entire $20,investment when in fact our records show an original account funding of $49,on June 19, and the client ending up withdrawing $39,in January of which would mean the account declined less than $10,We have records that support this assertionUpon review of the brokerage new account agreement, the client selected a Risk Exposure of "Moderate" and an Account Investment Objective of "Income"The client purchased a bond mutual fund with the funds placed in the brokerage accountA review of the bond mutual fund in purchased confirms that this recommendation was entirely appropriate for a client with that Risk Exposure and Account Investment ObjectiveAgain, we have records that support this assertionUnfortunately, for all parties involved, the market experienced a near unprecedented collapse beginning in August of When the client discussed the security in question with the broker, the broker recommended to the client to stay in the investment because he felt the underlying holdings of the bond fund were sound and the fund would return to its normalized levelsHowever, the client chose to liquidate the bond mutual fund September 17, It should be noted that the bond fund did indeed return to normalized levels within the next six monthsAncora Securities informs all clients that all investments bear riskAdditionally, the client was furnished with a prospectus at the time of purchase which details all risks and expenses associated with the bond mutual fundFurthermore, the client never directly approached Ancora Securities to relay their concerns that the investment was inappropriateThis complaint through the Revdex.com which was received June 24, 2015, is the first notification the firm has received and it is seven years since the investment was sold, despite the fact that the client has maintained a personal relationship with the broker since the investment in question.Ancora Securities is disappointed to hear of this client's experience with our company Ancora Securities always aims to satisfy all of its clients by tailoring specific investment recommendations to each of its clients In light of all the facts surrounding this particular complaint and the nature of investments, Ancora Securities does not believe that any sort of reimbursement is appropriate Moreover, we would request that the Revdex.com not publically disclose this complaint in light of all the facts and circumstances.Please feel free to reach out to us with any questions or concerns you may have We are more than willing to provide any information that supports our claims
I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below Please see the attached document Regards, [redacted]
TO: [redacted] , Revdex.comFROM: Ancora Advisors, LLCSUBJECT: Case ID [redacted] DATE: July 20, 2015The Ancora Group, Incwould like to reiterate that at the time of the transaction in question, The Ancora Group, Incowned two separate and distinct entities It owned an SEC Registered Investment Adviser, Ancora Advisors, LLC and a broker dealer, Ancora Securities, Inc This particular client is not now, and has never been, a client of Ancora Advisors, LLC The client did, however, maintain a brokerage account with Ancora Securities Therefore, this complaint is incorrectly directed towards Ancora AdvisorsIt is apparent after reading the client’s response that the reason this issue is being brought up after seven years is to settle a personal dispute that took place with the broker outside of our company The client is clearly trying to manipulate the Revdex.com’s system to besmirch the sterling reputation of our firm.Ancora Securities maintains that the accusation that no information was provided to the client on the investment and its risks is patently false Ancora Securities informs all clients that all investments, including annuities, bear risk Additionally, the client was furnished with a prospectus at the time of purchase which details all risks and expenses associated with the bond mutual fund As detailed in our previous response, Ancora Securities has documentation that supports all of our assertions Ancora Securities is disappointed to hear of this client’s experience with the company Ancora Securities always aims to satisfy all of its clients by tailoring specific investment recommendations to each of its clients However, after reviewing the details surrounding this particular complaint and the nature of investments, Ancora Securities does not believe that any sort of reimbursement is appropriate Furthermore, the client may want to consult with their legal counsel prior to making any more potentially damaging, unsubstantiated claims directed toward the firm in order to settle their personal dispute Ancora Securities hopes this response serves as the final information necessary to close this matterPlease feel free to reach out to us with any questions or concerns you may have We are more than willing to provide any information that supports our claims