Charles Jonathan Evan of Wellesley Massachusetts a stockbroker formerly registered with MSI Financial Services is referenced in a customer initiated investment related written complaint on February 11, 2021, in which the customer requested compensatory damages founded upon accusations of unsuitable recommendations by Evan relating to life insurance and annuity products that were sold by Evan when he was employed by MSI Financial Services. According to the complaint, the customer was misled by Evan concerning charges and commissions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Evan has been identified in ten additional customer initiated investment related disputes regarding allegations of his harmful actions while he was associated with securities broker dealers, including New England Securities, MML Investors Services LLC, and MSI Financial Services. On April 17, 2020, a customer filed an investment related complaint regarding Evan’s conduct. They sought more than $5,000.00 in damages supported by accusations that they were recommended unsuitable investments by Evan at MSI Financial Services. According to the complaint, Evan misrepresented information relating to insurance and annuity sales.
Evan is the subject of another customer initiated investment related written complaint on June 10, 2020. The customer requested compensatory damages based on allegations of deceptive practices and misleading advice by Evan when he was registered with MML Investors Services. According to the claim, omissions and misrepresentations were made by Evan in reference to his insurance sales.
Evan is also referenced in a customer initiated investment related complaint that was resolved for $84,928.83 in damages on February 25, 2021, founded upon accusations of omissions relating to financial transactions when Evan was associated with New England Securities. On May 21, 2021, another customer initiated investment related complaint involving Evan’s activities was settled for $29,250.00 in damages supported by allegations that the customer was sold an unsuitable variable annuity because of Evan during the time that he was employed by MML Investors Services.
On July 7, 2021, a different customer filed an investment related FINRA securities arbitration claim regarding Evan’s conduct where the customer sought compensatory damages based on accusations of annual fees being misrepresented by Evan. FINRA Arbitration No. 21-01722. According to the claim, the customer’s insurance policies were misrepresented when Evan was registered with New England Securities. The claim alleges that the customer sustained a loss of half of the capital they invested through Evan.
On July 21, 2021, another customer initiated investment related complaint concerning Evan’s activities was resolved for $80,180.68 in damages founded upon allegations that the customer’s signatures had been forged to initiate purchases of financial products. The complaint alleges omissions and unethical sales tactics by Evan relating to mutual fund, insurance, and annuity transactions.
Evan has been barred from associating with any FINRA member in any capacity supported by findings that he refused to provide information and documents to FINRA investigators during the period that he was under investigation for engaging in sales practice violations at MML Investors Services. Letter of Acceptance Waiver and Consent No. 2019064596401 (January 22, 2020).
According to the AWC, Evan was asked by FINRA to hand over documents and information after MML Investors Services told the regulator that it terminated him on November 13, 2019. The securities broker dealer alleged that Evans engaged in improper sales practices concerning life insurance. Evans’ lawyer told FINRA that Evans would not respond to its request. FINRA found that Evans’ refusal to comply showed that he violated Rules 2010 and 8210.
Evan was registered with MSI Financial Services between January 2, 2015, and March 25, 2017, and registered with MML Investors Services between March 25, 2017, and November 13, 2019.
