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 complaint on April 29, 2019 where the customer requested $13,763.63 in damages based upon allegations of the customer being poorly advised by Martin in regard to the purchase of a variable annuity during the time that Martin was associated with Ameriprise Financial Services.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Martin has been identified in six more customer initiated investment related disputes containing accusations of the stockbroker’s violative conduct while employed with Ameriprise Financial Services. Specifically, Martin is referenced in a customer initiated investment related complaint in which the customer sought $56,708.95 in damages supported by allegations that the customer had been sold real estate security products and insurance policies which were in no way suitable given the customer’s financial circumstances and age.
On April 25, 2016, another customer initiated investment related complaint concerning Martin’s conduct was resolved for $35,570.55 in damages founded on accusations that unsuitable W.P. Carey Real Estate Investment Trust positions had been held in the customer’s account. Martin is also the subject of a customer initiated investment related complaint on May 4, 2016 where the customer requested $51,066.19 in damages based upon allegations that improper distributions had been effected from the customer’s account; and illiquid and aggressive securities including non-traded real estate investment trusts were inappropriate and had generated losses for the customer.
Another customer filed an investment related complaint concerning Martin’s conduct on August 23, 2017 in which the customer sought $43,661.73 in damages supported by accusations that during the period in which Martin was employed by Ameriprise Financial Services, the stockbroker placed the customer in investments that failed to align with the customer’s investment objectives, needs or other investment circumstances.
