Richard Paul Martin of Wappinger Falls New York a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related written complaint on August 23, 2017 where the customer sought $43,661.73 in damages based upon allegations that from June 2012 to August 2014, Martin sold the customer annuities that were not appropriate for the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Martin has been identified in five additional customer initiated investment related disputes containing accusations of his inappropriate conduct while employed with Ameriprise Financial Services, Inc. Specifically, on November 7, 2006, a customer filed an investment related complaint concerning Martin’s activities in which the customer requested $19,103.04 in damages founded on allegations that Martin failed to inform the customer about the surrender penalties pertaining to variable annuity accounts.
Subsequently, on December 31, 2012, a customer filed an investment related complaint regarding Martin’s conduct where the customer sought $55,708.95 in damages supported by accusations that the customer was placed into a variable universal life insurance policy, real estate investment trust and variable annuities that were not suitable given the customer’s financial situation and age. Then, on April 25, 2016, a customer initiated investment related complaint involving Martin’s activities was settled to resolve allegations that Martin arranged for the customer to buy real estate investment trust products and variable annuities that were not fitting to the customer’s needs and objectives.
Furthermore, on May 4, 2016, a customer filed an investment related complaint concerning Martin’s activities in which the customer requested $51,066.19 in damages based upon accusations that the customers were placed into illiquid investments, including insurance products between 1991 and 2015; non-traded real estate investment trusts between 2009 and 2014; and variable annuity products between 2006 and 2013. The customers additionally alleged that given their ages, the investments held in their account were not suitable for them.
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