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Donald Peabody Allegedly Recommended an Unsuitable Investment

Donald Peabody (CRD #: 2175218), a broker registered with Osaic Wealth, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on October 14, 2024. Keep reading if you have questions. 

Investor Allegations

On July 2, 2024, an investor alleged that Donald Peabody made unsuitable investment recommendations concerning a real estate investment. The investor is seeking $500,000. 

There are three other investor disputes on his record. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. 

Rule 2111 also requires brokers to consider the following investor characteristics: 

  • Age
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status
  • Financial goals

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

Background Information 

Donald Peabody has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 3 National Commodity Futures Examination 
  • Series 7 General Securities Representative Examination 
  • Series 10 General Securities Sales Supervisor – General Module Examination 
  • Series 9 General Securities Sales Supervisor – Options Module Examination 

He is a registered broker in ten states and is a registered investment adviser in Oregon and Texas. 

During his 32 years of experience, Donald Peabody has registered with the following firms: 

  • Osaic Wealth (CRD #: 23131) 
  • FSC Securities Corporation (CRD #: 7461) 
  • Umpqua Investments (CRD #: 1254) 
  • Saloman Smith Barney (CRD #: 7059) 
  • Lehman Brothers (CRD #: 7506) 

Kurta Law Can Help 

If you worked with Donald Peabody and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.