Investment Losses with Former MML Investors Services, LLC Broker Charles Evan?

Posted on Monday, February 24th, 2020 at 8:46 pm    

MML Investors Services logo

Erez Law is currently investigating former MML Investors Services, LLC broker Charles Evan (CRD# 836083) regarding investment losses. Evan was registered with MML Investors Services, LLC in Wellesley, Massachusetts from 2017 to 2019, when he was terminated regarding, “Terminated in connection with allegations concerning inappropriate traditional insurance sales practices.” Previously, Evan was registered with MSI Financial Services, Inc. in Wellesley, Massachusetts from 2015 to 2017. Prior to that, Evan was registered with New England Securities in Wellesley, Massachusetts from 2002 to 2015.

In January 2020, FINRA barred Evan after he, “consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA, when it began investigating Evan after his member firm filed a Form U5 reporting his termination in connection with allegations concerning inappropriate traditional insurance sales practices.”

Evan has been the subject of three customer complaints between 2019 and 2020, according to his CRD report:

January 2020. “The customer alleged that the representative used unethical sales tactics, denied receiving commissions, and omitted information to secure the sale of financial products beginning in 2013.” The customer is seeking $154,000 in damages and the case is currently pending. The complaint took place while Evan was registered with New England Securities and was regarding variable annuities.

December 2019. “The complainants allege that in 2015, a signature was forged on paperwork related to the transfer of ownership of a Term life policy.” The case is currently pending. The complaint took place while Evan was registered with MML Investors Services, LLC.

November 2019. “The customers alleged that the representative used unethical sales tactics, denied receiving commissions, and omitted information to secure the sale of financial products beginning in 2013.” The customer is seeking $5,000 in damages and the case is currently pending. The complaint took place while Evan was registered with MML Investors Services, LLC and was regarding variable annuities, insurance, and mutual funds.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, MML Investors Services, LLC may be liable for investment or other losses suffered by Evan’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

Disclaimer: Clients are responsible for costs. Contingency fee is calculated before deducting costs incurred in the case.