Ameriprise Financial Clients Allege Sales Practice Violations By Richard Martin

Soreide Law Group is investigating potential disputes to bring on behalf of investors against securities broker Richard Paul Martin (CRD#: 1536729, Goshen, New York). Evidently, Martin joined Ameriprise Financial Services in September 1986 as a securities broker. He became a financial advisor in January 2007. Namely, seven investors took issue with Martin’s sales practices, with allegations including unsuitable transactions. Here is a closer look at some of these disclosures about the securities broker.

May 2021 Dispute Alleges Unsuitable Non-Traded REITs By Richard Martin

Evidently, clients of Ameriprise Financial Services disputed Richard Martin’s sales practices. Namely, the May 2021 FINRA Arbitration Claim alleges that Martin sold them unsuitable investments. Supposedly, Martin had them invest in annuities, non-traded REITs, and illiquid insurance policies. Allegedly, those investments were not suitable because of the clients’ ages. In addition, the clients contend that Martin provided the wrong amounts on RMDs. Because of this, the clients asked for $330,430 in compensation. This matter is ongoing.

Ameriprise Financial Services Client Alleges Unsuitable Recommendations By Martin

A second Ameriprise Financial Services client took issue with Richard Martin’s investment recommendations. This April 2019 complaint focuses on Martin’s recommendation of an annuity in January 2018, which the client alleged to be unsuitable. Evidently, the client asked for compensation; however, Ameriprise Financial Services denied the dispute.

Richard Martin Supposedly Provides Inappropriate Advice To Ameriprise Client

Moreover, in the third dispute on BrokerCheck, a client of Ameriprise Financial Services complained about Richard Martin’s annuity sales. Supposedly, Martin caused them to invest in multiple annuities. Because of these allegedly unsuitable investment recommendations, the client incurred damages. For this reason, the client asked for $43,661.73. Although, Ameriprise Financial Services denied the dispute.

Prior Disputes Concern Alleged Unsuitable Recommendations Of Life Insurance, Annuities

In a past dispute about Richard Martin, clients voice concerns about his insurance sales. For example, in a 2012 matter, a client claimed that Martin sold an unsuitable variable life insurance policy, annuity, and real estate investment trust because of the client’s situation and age. However, Ameriprise denied the client’s dispute.

Did You Suffer Damages Because Of Richard Martin?

Did securities broker Richard Martin cause you to suffer losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer regarding a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has helped many United States investors recover compensation when they have incurred losses by their financial advisors and securities brokers. Please note that Martin denies all allegations of his sales practice violations.Lars Soreide AVVO 2020 Top Lawyer