Peter Hafner Faced Two Investor Disputes in 2023

Peter Hafner (CRD #: 2251932), a broker registered with Next Financial Group, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on February 27, 2024. Details concerning this dispute are provided below. 

Investor Disputes 

On November 21, 2023, investors alleged that Peter Hafner recommended an unsuitable business development company (BDC) and Real Estate Investment Trust (REIT). 

According to allegations filed on March 1, 2023, an investor alleged that Peter Hafner recommended an unsuitable REIT. They further alleged that he recommended that they exchange three variable annuities for new variable annuities – an exchange that could result in expensive fees. 

Business Development Companies 

Business Development Companies (BDCs) allow investors to invest in the private sector. BDCs extend loans to distressed companies, and investors can see high returns in the form of the interest these companies pay. However, the possibility of default and other risks can make BDCs unsuitable for some investors.

REITs

Real estate investment trusts (REITs) allow investors to generate returns from a portfolio of real estate without having direct involvement with property management. However, REITs tend to be illiquid, which makes them unsuitable for many investors. Non-traded REITs are risky because they are not traded on the public exchange, making them difficult or impossible to sell. 

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with this type of illiquid investment makes it unsuitable for many investors. 

Background Information 

Peter Hafner 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 24 General Securities Principal Examination 

He is a registered broker in 13 states and is a registered investment adviser in New York and Texas. 

In his 31 years of experience, Peter Hafner has registered with the following firms: 

• Next Financial Group (CRD #: 46214) 
• First Allied Advisory Services (CRD #: 137888) 
• First Allied Securities (CRD #: 32444) 
• A.G. Edward & Sons (CRD #: 4) 
• Thomas James Associates (CRD #: 15609) 

Kurta Law Can Help 

If you have worked with Peter Hafner and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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.