Financial Advisor Peter Klaas Has 5 Customer Complaints And One Regulatory Event
The Wolper Law Firm is currently investigating claims against Peter Klaass, a former Financial Advisor at Allegis Investment Services, LLC in Las Vegas, Nevada. Peter Klaass first entered the securities industry in 1993 and previously worked for Signator Financial Services, LPL Financial, Financial Network Investment Corp. and Edward Jones.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Stephen Williams has five (5) customer complaints and one regulatory event
Among the customer complaints against Peter Klaas are the following:
- September 2017—“Client alleges that the options strategy implemented in the account unsuitable and there were misrepresentations regarding the strategy.” Alleged damages are $456,529 and the matter remains pending.
- June 2016—“Client alleges that in the role of supervisor there was failure to meet the standard of care…” Alleged damages are $400,000.
- March 2016—“Client alleges that the advisor on their advisory account did not execute instructions to move out of the market when asked…” The matter was settled for $105,000.
- January 2016—“Client alleges advisor did not follow risk tolerance as agreed.” The matter was settled for $30,000.
In addition, Peter Klaas has also been the subject of a regulatory sanction by the Colorado Division of Securities for placing “advisory clients in high risk and complex options trades that their clients did not understand.”
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
If you or someone you know was a customer of Peter Klaass and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at email@example.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyers who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. His industry insight, experience and knowledge gives his clients a competitive advantage.