A National Securities Arbitration & Investment Fraud Law Firm
Peter Gerhard Klaas (CRD #2381681) is a former broker and investment advisor, and was employed at El Segundo, CA-based Cetera Advisor Networks since 05/2017. Klaas was previously employed with Allegis Investment Services (05/2014-03/2017,) Signator Financial Services (04/2011-06/2014), and LPL Financial (09-2007-05/2011.) No current employment information is available. The Colorado Division…
Peter Gerhard Klaas (CRD# 2381681) is currently registered as a broker and investment advisor, and is employed at El Segundo, CA-based Cetera Advisor Networks since 05/2017. He is registered with Cetera in both Murray, UT and Las Vegas, NV, and licensed in Arizona, Idaho, Nevada and Utah. Klaas was previously…
Founded in 1983, Cetera Advisor Networks, LLC (CRD# 13572) is one of the largest independently managed brokerage firm in the U.S. Based in El Segundo, California, the company has a network of 10 broker-dealer firms consisting of nearly 10,000 advisors. Cetera was originally created under the name of Financial Network…
FINRA entered into a settlement with Cetera Advisor Networks LLC (CRD# 13572) over improprieties related to mutual sales fund charge waivers. According to the Acceptance, Waiver and Consent (“AWC’) entered into between Cetera and FINRA, Cetera disadvantaged certain retirement plan and charitable organization customers that were eligible to purchase certain…
Silver Law Group is investigating Houston, Texas-based Summit Brokerage Services, Inc. (CRD# 34643) broker Keith A. Bradley (CRD# 868141) after a customer filed a FINRA arbitration alleging unsuitable recommendations and negligence. According to Bradley’s FINRA BrokerCheck report, a customer filed a FINRA arbitration against Bradley in July 2016 alleging unsuitable investments,…
Silver Law Group is investigating former Plano, Texas-based VSR Financial Services, Inc. (CRD# 14503) broker John H. Towers (CRD# 700221) due to an extraordinarily high amount of FINRA BrokerCheck disclosures alleging unsuitable recommendations and negligence. According to John H. Towers FINRA BrokerCheck report, Towers has 46 misconduct disclosures, most of which…
The Financial Industry Regulatory Authority (“FINRA”) fined eight firms, including VOYA Financial Advisors (CRD# 2882) (“VOYA”) and five broker-dealer subsidiaries of Cetera Financial Group (Cetera Advisor Networks LLC (CRD# 13572)), for failing to supervise sales of variable annuities (VAs). The eight firms are required to pay a fine of $6.2…
Cetera Financial Group subsidiary VSR Financial Services, Inc. (CRD# 14503) is winding down and transferring some of its brokers to other Cetera Financial Group broker-dealers. VSR is one of Cetera Financial Group’s (“Cetera”) many independent brokerage firms. Cetera was acquired by Nicholas “Nick” Schorsch’s RCS Capital in 2014 in an…
Cetera Investment Services, LLC (CRD# 15340) entered into a Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA after the regulatory body alleged it failed to notify account owners regarding changes to their account records. According to the AWC, from October 1, 2008 through November 15, 2013, Cetera failed to…
United Development Funding IV (“UDF IV”) announced a distribution amidst a continuing SEC investigation and delisting from NASDAQ exchange. On November 8, 2016, United Development Funding (“UDF”) announced that its public real estate investment trust United Development Funding IV’s board of trustees has authorized a cash distribution of $0.08 per…