Bret J Petersen (CRD #4635196) Has an Employment Separation Disclosure on FINRA BrokerCheck

Bret J Petersen (CRD #4635196) is a broker with an employment separation disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on May 7, 2026. It reflects one employment separation disclosure. If you invested with Bret J Petersen and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Employment Separation After Allegations

Bret Petersen’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary of the disclosure is below:

On January 5, 2026, Wells Fargo Clearing Services LLC discharged Bret Petersen. Bret Petersen’s FINRA BrokerCheck Report says the firm reported concerns that he solicited clients to transfer their accounts to another firm while still employed by Wells Fargo Clearing Services LLC. The disclosure lists no product. The firm and broker reporting sources list the same statement.

Rule Summary #1: FINRA Rule 2010 (Standards of Commercial Honor)

FINRA Rule 2010 requires high standards of commercial honor and fair conduct. Employment separation disclosures may raise questions about whether conduct met those standards.

Rule Summary #2: FINRA Rule 2140 (Customer Account Transfers)

FINRA Rule 2140 addresses customer account transfers when a representative changes employment. It bars interference with a valid customer request to transfer an account.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Bret Petersen:

Is currently registered with Rothschild Investment LLC and Rothschild Wealth LLC.

Has passed the Securities Industry Essentials (SIE) exam. Bret Petersen has passed Series 7 and Series 31. He has also passed Series 66.

Was previously registered with firms that include Wells Fargo Advisors, Wells Fargo Clearing Services LLC, UBS Financial Services Inc., and Morgan Stanley.

Kurta Law Can Help

If you have worked with Bret Petersen and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help assess potential causes of action and determine whether recovery may be available through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | What Is Securities Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.