Peter Clarke is Facing a $6.3 Million Dispute

Peter Clarke (CRD #: 1400419), a broker registered with Rockefeller Financial, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 26, 2023. If you have concerns about his alleged conduct, keep reading. 

On July 11, 2023, an investor alleged that Peter Clarke made overly risky investment recommendations. Risky investments may violate FINRA Rule 2111, which defines suitable investments. The investor is seeking $6.3 million. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, and financial goals. 

• Investments can be unsuitable because they are high-risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means the broker executed an excessive number of trades. The number of trades increases the transaction fees, and these fees cut into the returns for the investor. 
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration to recover their losses.

Background Information 

Peter Clarke 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 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 33 states and is a registered investment adviser in Florida and Texas. 

During his 38 years of experience, Peter Clarke has registered with eight firms: 

• Rockefeller Financial (CRD #: 291361) 
• Truist Advisory Services (CRD #: 283390) 
• Truist Investment Services (CRD #: 17499) 
• BB&T Securities (CRD #: 142785) 
• Scott & Stringfellow (CRD #: 6255) 
• Wells Fargo Advisors (CRD #: 19616) 
• First Union Capital Markets (CRD #: 6124) 
• Dean Witter Reynolds (CRD #: 7556) 

Kurta Law Can Help

If you worked with Peter Clarke and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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 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.