Steven Charles Vardsveen at CONCOURSE FINANCIAL GROUP SECURITIES, INC. – View Complaints, Disclosures, Scams and Audit Report (Updated 2023)

Disclosure #1 for Steven Vardsveen

• • eventDate: 3/28/2011
  • Disclosure Type: Customer Dispute
  • Disclosure Resolution: Denied
  • Disclosure Detail :: Allegations: CLIENT CONTACTED HARTFORD LIFE INSURANCE COMPANY IN A LETTER RECEIVED ON MARCH 28, 2011. CLIENT ALLEGED THAT THE HARTFORD REPRESENTATIVE DID NOT PROVIDE A COPY OF ILLUSTRATION PRESENTED AT THE TIME OF SALE AND DID NOT CONVEY WHICH RATE OF RETURN THE ILLUSTRATION WAS BASED ON. CLIENT ALSO ALLEGED THAT THE PREMIUM OPTIONS WERE NOT PRESENTED THAT WOULD BE REQUIRED TO KEEP THE VARIABLE LIFE INSURANCE POLICY IN FORCE TO THE INSURED’S AGE OF 100. ALTHOUGH THE COMPLAINT DID NOT STATE THE HARTFORD REPRESENTATIVE’S NAME, THE ACCOUNT EXECUTIVE ON THE POLICY AT THAT TIME WAS STEVEN VARDSVEEN, THE FIRM IS THEREFORE CONSERVATIVELY REPORTING THIS MATTER.
  • Arbitration Docket Number:
  • Broker Comment: CLIENT CONTACTED HARTFORD LIFE INSURANCE COMPANY IN A LETTER RECEIVED ON MARCH 28, 2011. CLIENT ALLEGED THAT THE HARTFORD REPRESENTATIVE DID NOT PROVIDE A COPY OF ILLUSTRATION PRESENTED AT THE TIME OF SALE AND DID NOT CONVEY WHICH RATE OF RETURN THE ILLUSTRATION WAS BASED ON. CLIENT ALSO ALLEGED THAT THE PREMIUM OPTIONS WERE NOT PRESENTED THAT WOULD BE REQUIRED TO KEEP THE VARIABLE LIFE INSURANCE POLICY IN FORCE TO THE INSURED’S AGE OF 100. ALTHOUGH THE COMPLAINT DID NOT STATE THE HARTFORD REPRESENTATIVE’S NAME, THE ACCOUNT EXECUTIVE ON THE POLICY AT THAT TIME WAS STEVEN VARDSVEEN, THE FIRM IS THEREFORE CONSERVATIVELY REPORTING THIS MATTER. THE SALE AT THE TIME WAS A THIRD PARTY SALE MADE BY A THIRD PARTY BROKER DEALER AND THEIR REGISTERED REPRESENTATIVE. THE CLIENT ALSO MADE A REQUEST TO CONTINUE THE POLICY WITH AN ANNUAL PREMIUM OF $50,000. THE FIRM REVIEWED THE MATTER AND FOUND NO BASIS FOR THE ALLEGATIONS OR TO ACCOMMODATE THE CLIENT REQUEST. ALL PROPER DISCLOSURES WERE MADE AT THE TIME AND ALL QUESTIONS ADDRESSED. THERE IS NO INDICATION OF ANY KIND THAT THE HARTFORD REGISTERED REPRESENTATIVE FAILED TO COMPLY WITH ANY OF THE FINANCIAL ADVISOR’S OR THE CLIENT’S REQUESTS FOR INFORMATION OR ILLUSTRATIONS. THIS WAS COMMUNICATED TO THE CLIENT IN THE FIRM’S RESPONSE DATED APRIL 25, 2011. THE FIRM RECEIVED A RESPONSE FROM THE CLIENTS ON MAY 31ST, 2011 HOWEVER THE FIRM HAS NOT CHANGED IT’S POSITION.