Former broker Charles Jonathan Evan of Welleslay, Massachusetts, is the subject of multiple customer dispute disclosures filed on allegations of unsuitability and misrepresentation according to an investigation by attorney Alan Rosca. As of the date of this article, broker Charles Evan has been the subject of nine customer complaints in total since December 2019, according to his FINRA Brokercheck page, under review by the Rosca Scarlato attorneys.
Investors who are concerned about investments with former broker Charles Evan are encouraged to call 888-998-0530, email arosca@rscounsel.law, or complete the contact form on this page for a free consultation about their case. Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating conduct related to the various customer dispute disclosures against Charles Evan on the allegations of unsuitability and misrepresentation.
Customer Dispute Disclosures Involving Charles Evan Allege Unsuitability and Misrepresentation
According to the most recent customer dispute filed with FINRA in September 2020, the customer of former MML Investors broker Charles Evan is alleging misrepresentation of the annual fees charged on Variable Annuities, and misrepresentation of the fees that were charged for financial consulting.
The complaint also alleges misrepresentation of the customer’s life insurance policies, and as a result, there was a negative impact on their overall financial planning, and they lost almost half of their invested capital. There is no specified amount for the alleged damages, but according to the Brokercheck report the firm has been unable to determine that the damages would be less than $5,000.
Another customer dispute filed as an internal case with MML Investors Services in June 2020 alleges unethical sales tactics, misrepresentation and omission of information, misleading advice, and engaging in deceptive practices. The customer is seeking $5,000 for the alleged damages.
A customer dispute filed in April 2020 alleges misrepresentations and unsuitable recommendations on the sale of life insurance and annuity products. The customer is seeking $5,000.01 for the alleged damages.
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In March 2020, three customers filed a dispute involving Evan, as reported on his FINRA Brokercheck page.
One customer alleges Evan used unethical sales tactics, denied receiving commissions, omitted information, and forged signatures and initials on forms to secure the sale of financial products. The customer is seeking $5,000.01 for the alleged damages.
A second customer alleges the signatures related to various accounts and policies sold to them by Evan is not their signature. There is no specified amount for the alleged damages.
A third customer alleges Evan sold several variable annuities that were found to be unsuitable for their needs. The customer is seeking $157,370 for the alleged damages.
In February 2020, a customer filed a dispute against Evan alleging misrepresentations, and bad investment advice on the sales of various products which resulted in financial loss. There is no specified amount for the alleged damages.
A customer file a dispute in January 2020 against Evan alleging unethical sale tactics, denied receiving commissions, and omitted information to secure the sale of financial products. The customer is seeking $154,000 for the alleged damages.
In December 2019, a customer filed a dispute alleging a signature was forged on paperwork related to the transfer of ownership of a Term life policy. There is no specified amount for the alleged damages.
Investors who are concerned about their investment with Charles Evan are encouraged to contact attorney Alan Rosca for a free case evaluation or discussion of recovery options. Call 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this page.
Charles Jonathan Evan Sanctioned by FINRA for Refusal to Provide Requested Documents and Information
FINRA began an investigation on Charles Evan after MML Investor Services filed a Form U5 reporting Evan’s termination in connection with allegations concerning inappropriate traditional insurance sales practices, according to FINRA’s Letter of Acceptance, Waiver and Consent(AWC).
On December 4, 2019, FINRA requested documents and information from Evan regarding the investigation. On December 23, 2019, Charles Jonathan Evan allegedly acknowledged that he received the request and would not produce the documents and information requested by FINRA, the AWC reports.
Evan violated FINRA Rules and without admitting or denying the findings, he consented to the sanction that barred him from associating with any FINRA member firm in any capacity indefinitely.
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Charles Evan Was Registered with FINRA for 41 Years and Switched Employers Seven Times
According to Evan’s FINRA Brokercheck page, he joined the securities industry in 1997 and switched employers seven times.
- MML Investor Services
- (03/25/2017-11/13/2019)
- MSI Financial Services
- (01/02/2015 – 03/25/2017)
- New England Securities
- (05/01/2002-01/02/2015)
- MML Investor Services
- (02/01/2002-04/18/2002)
- Manequity
- (01/10/1994-01/28/1999)
- R. Phelps & Co
- (06/30/1993-03/01/1996)
- PML Securities Company
- (09/14/1992-11/09/1992)
- Capital Analysts Incorporated
- (04/06/1977-10/01/1992)
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Lost Money with Former MML Investors Broker Charles Evan?
The Rosca Scarlato LLC law firm represents investors who lose money as a result of broker misconduct and investment-related fraud. We are currently investigating conduct related to former broker Charles Evan’s customer dispute disclosures on the allegations of unsuitability and misrepresentation.
The firm takes most cases like this on a contingency fee basis and advances the case costs, we only get paid for the fees and costs out of the money we recover for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of investors who fell victim to their unscrupulous broker’s misconduct, violations of sale practices, or other investment-related misconduct..
Investors who believe they lost money as a result of former MML Investors broker Charles Evan’s customer dispute disclosures on the allegations of unsuitability and misrepresentation may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
