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James Peters Allegedly Gave Unsuitable Investment Recommendation

Nov 30, 2022 Unsuitable Investments

James Peters (CRD #: 2665577), a broker registered with Centaurus Financial, allegedly made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on November 19, 2022. If you have questions about his conduct as a broker, keep reading.

Investor Dispute

On August 15, 2022, an investor alleged that James Peters recommended an unsuitable and illiquid investment in September 2020. The client seeks $200,000 in a pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the investor’s profile, which contains the following investor characteristics:

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

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information

James Peters has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

James Peters is a registered broker in 10 states and the District of Columbia. He is also a registered investment adviser in seven states.

He has also worked for the following firms:

  • MML Investors Services (CRD#:10409)
  • Northwestern Mutual Investment Services (CRD#:2881)
  • Robert W. Baird & Company (CRD#:8158)

Kurta Law Can Help

If you worked with James Peters and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.