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Pedro Escobar: $100K-$500K GIC Complaint Against Ameriprise Advisor
A recent investor complaint against Davie, Florida financial advisor Pedro Escobar (CRD# 2785268) alleges damages of up to half a million dollars. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Ameriprise Financial Services, having previously been registered with Wells Fargo Clearing Services and SunTrust Investment Services.
Mr. Escobar’s BrokerCheck report discloses two investor complaints. The most recent, filed in November 2022, alleges that as a representative of SunTrust Investment Services, he recommended unsuitable investments in GIC. The pending complaint alleges damages between $100,000 and $500,000.
An earlier complaint, filed in 2009, alleged that as a representative of Wachovia Securities, he failed to follow instructions not to purchase variable annuities. The complaint alleged damages of $45,103.89 and was denied by the firm.
According to the Financial Industry Regulatory Authority, Pedro Escobar holds 25 years of securities industry experience. Based in Davie, Florida, he has been a broker and an investment advisor with Ameriprise Financial Services since June 2020. His registration history includes Wells Fargo Clearing Services (Miami, Florida; 2014-2020), SunTrust Investment Services (Miami, Florida; 2010-2014), Chase Investment Services (Hialeah, Florida; 2009-2010), Wachovia Securities (Miami, Florida; 2000-2009), First Union Brokerage Services (Charlotte, North Carolina; 1997-2000), and GKN Securities Corporation (New York, New York; 1996-1997). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed as a broker and an investment advisor in Florida. (Information current as of December 17, 2022.)
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