Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on June 21, 2018 indicate that former Nevada-based Cetera Advisor Networks broker/adviser Peter Klaas, who has received resolved or pending customer disputes and a regulatory sanction, recently resigned from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Klaas (CRD# 2381681).
Peter Klaas has spent 24 years in the securities industry and was most recently registered with Cetera Advisor Networks in Las Vegas, Nevada since (2017-2018). Previous registrations include Allegis Investment Services in South Jordan, Utah (2014-2017); Signator Financial Services in Idaho Falls, Idaho (2014-2017); LPL Financial in Idaho Falls, Idaho (2007-2011); Financial Network Investment Corporation in Idaho Falls, Idaho (2003-2007); Edward Jones in St. Louis, Missouri (2002-2003); Cuna Brokerage Services in Waverly, Iowa (1995-2002); WMA Securities in Duluth, Georgia (1994-1995); and Fidelity Brokerage Services in Smithfield, Rhode Island (1993-1994). He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received one regulatory sanction, three customer complaints, and one pending customer complaint, and he recently resigned from his former employer.
In April 2018 he voluntarily resigned from his position at Cetera Advisor Networks after the firm determined he was “subject to a disqualification” arising from the cease and desist order against him by the Securities Commissioner of Colorado.
In February 2018 the Colorado Division of Securities sanctioned him following allegations he and a third party placed clients in high-risk, complex options trades that the clients did not understand. His investment adviser registration was revoked and he was ordered to cease and desist.
In 2017 a customer alleged Peter Klaas, while employed at Allegis Investment Advisors, misrepresented and recommended an unsuitable investment strategy, and made a trade that resulted in a loss. The customer is seeking $456,529 in damages in the pending complaint.
In 2016 a customer alleged Peter Klaas, while employed at Allegis Investment Advisors, did not follow the customer’s instructions to move out of the market, and placed a trade that resulted in a loss. The complaint settled for $105,000.
In 2016 a customer alleged Peter Klaas, while employed at Allegis Investment Advisors, made unsuitably risky investments. The complaint settled for $30,000.
In 2015 a customer alleged he, while employed at Allegis Investment Services, did not follow instructions to reserve a certain amount of money from risk, and instead included it in the overall investment strategy. The complaint settled for $8,000.
If you or someone you know has lost money investing with Peter Klaas, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.