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Derek Martin: 56 Capital Denies $300K Complaint Against Advisor

Colorado Springs financial advisor Derek Martin (CRD# 6059805) recently received an investor complaint alleging that his conduct resulted in losses. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Northwestern Mutual broker is currently registered as an investment advisor with 56 Capital Partners.

Mr. Martin’s BrokerCheck report discloses one investor complaint. Filed in April 2024, it alleged that as a representative of 56 Capital Partners, he recommended an unsuitable investment, engaged in churning, committed fraud, acted negligently, and breached his fiduciary duty. The complaint alleged damages of $300,000 and was denied by the firm.

In a statement included with the disclosure, Mr. Martin defended himself against the allegations, writing that the  investment was suitable for the claimant. “Neither 56 Capital Partners nor Mr. Martin are subject to the FINRA business conduct standards or sales practice rules,” he stated, “as neither 56 Capital Partners, LTD nor Mr. Martin are members of FINRA or registered as broker-dealers or registered representatives. Mr. Martin intends to contest the allegations should the claimant file suit in this matter.”

According to the Financial Industry Regulatory Authority and Securities and Exchange Commission, Derek Martin holds 11 years of securities industry experience. Based in Colorado Springs, Colorado, he has been registered as an investment advisor with 56 Capital Partners since 2018. He was previously registered with Northwestern Mutual Investment Services from 2012 until 2017. His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the National Commodity Futures Examination, or Series 3; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Colorado, Georgia, Michigan, Montana, and Texas. (Information current as of May 6, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

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