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Gregg Martinsen Allegedly Recommended Unsuitable Insurance Policy

Apr 22, 2022 Unsuitable Investments

Gregg Martinsen (CRD #: 1390201), a broker registered with Ameriprise Financial Services, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on April 18, 2022. Read on to learn more about Gregg Martinsen’s conduct as a broker.

Investor Dispute

On January 25, 2022, an investor alleged that, in 2015, Gregg Martinsen recommended a universal life insurance policy that was unsuitable for them. The firm denied this dispute.

However, investors should be aware that firms can deny disputes without outside review. Investors can still recover their losses through FINRA arbitration following a denial.

FINRA Rule 2111

Brokers must tailor their investment recommendations to their clients’ profiles in accordance with FINRA Rule 2111. Investors’ profiles contain information such as their age, tax status, and risk tolerance. Some types of insurance, like variable universal life insurance policies (VULs), carry a degree of risk that makes them unsuitable for many investors.

Investors who have lost funds due to unsuitable investment recommendations can pursue FINRA arbitration to recoup their losses.

Background Information

Gregg Martinsen has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

Gregg Martinsen is a registered broker in 12 states and a registered investment adviser in Florida and Texas.

In the past, he has also worked for Equitable Advisors (CRD#:6627) and The Equitable Life Assurance Society of the United States (CRD#:4039)

Kurta Law Can Help

If you worked with Gregg Martinsen and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.