Martin Ray Evans Suspended and Fined

Martin Ray Evans (Marty Evans) CRD#: 2412900, a former Ameriprise broker from Mitchel Field, New York, was fined $5,000.00 and suspended 45 days (12/7/2020 - 1/20/2021) by FINRA for allegedly impersonating clients while trying to obtain their account information.
According to the FINRA report, without admitting or denying the findings, Martin Ray Evans consented to the sanctions and to the entry of findings that he allegedly impersonated clients of his former member firm during telephone calls to its customer service department in order to obtain the clients' account information without their permission to make the phone calls or to impersonate them.
FINRA’s findings stated that after joining another member firm, Martin Ray Evans, with the alleged consent of his former clients from his former firm, began to transfer client accounts from the former firm to the other firm.
According to FINRA, when Evans submitted account transfer documentation to the former firm for certain clients, the account transfer requests were rejected because he had submitted incorrect client account information. Martin Ray Evans then made numerous telephone calls to the former firm's customer service department to obtain account information for his former clients, which he then used in resubmitting account transfer requests to the former firm.
FINRA’s findings also stated that, through his impersonations, Evans improperly obtained nonpublic personal client information from his former firm, without its or the clients' knowledge or consent. As a result, Martin Ray Evans caused the former firm to violate the SEC's Regulation S-P: Privacy of Consumer Financial Information and Safeguarding Personal Information.
According to an article in Financial Advisor IQ, Evans joined Ameriprise Advisor Services in 2003 and moved to Ameriprise Financial Services in 2009. According to FINRA’s BrokerCheck, which is available to the public on FINRA’s website, Ameriprise Financial Services, Inc. discharged Martin Ray Evans in February of 2019 alleging, “The registered representative was terminated on February 5, 2019 for company policy violations including failing to obtain authorization from a client prior to processing an RMD transaction and failing to disclose material information to another client.”
After he was discharged from Ameriprise Financial Services, Evans then became registered with Western International Securities of Mitchel Field, NY, from May to July of 2019, and since then has not been registered with any other firm.
According to the article, FINRA claims Martin Ray Evans allegedly impersonated 11 clients between May 28, 2019, and Jul. 1, 2019, while he was registered with Western International Securities, during the calls to his former firm’s customer service department to get the client account information.
On FINRA’s BrokerCheck, Evans has 5 Disputes on his CRD report, three are Customer Disputes.  Martin Ray Evans has been registered in the securities industry for 25 years and has been listed with 6 firms, the most recent are:
05/16/2019 - 07/17/2019  WESTERN INTERNATIONAL SECURITIES, INC. - Mitchel Field, NY
10/05/2009 - 03/06/2019  AMERIPRISE FINANCIAL SERVICES, INC. - MITCHEL FIELD, NY
06/13/2003 - 10/05/2009  AMERIPRISE ADVISOR SERVICES, INC. - MELVILLE, NY
If you’ve experienced investment losses due to the actions or recommendations of the former Ameriprise broker, Martin Ray Evans, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis and represent clients nationwide before FINRA.