Peter Economos: Merrill Advisor Lands REIT Complaint

A recent, denied investor complaint against Walnut Creek, California financial advisor Peter Economos (CRD# 6596680) alleged that he violated industry rules. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch.

Mr. Economos’ BrokerCheck report discloses one investor complaint. Filed in March 2026, it alleged that as a representative of Merrill Lynch, he failed to follow instructions in connection with a real estate investment trust (REIT) product. The complaint alleged unspecified damages and was denied by the firm.

Investors should be aware that FINRA Rule 2010 requires brokers like Mr. Economos to “observe high standards of commercial honor and just and equitable principles of trade.” A number of types of unethical conduct, including the failure to follow a client’s instructions, may be considered violations of Rule 2010, so long as the activities in question take place “in the conduct of [the member’s] business.” Advisors who violate FINRA Rule 2010 may be found liable in the event of losses in the customer’s account.

A real estate investment trust, or REIT, is an investment vehicle that uses pooled funds from a group of investors to buy and operate real estate properties. REITs may be can be publicly traded or privately held. While they have the benefit of giving investors access to real estate investments—and the promise of steady income streams from them—non-traded REITs may be particularly risky for short-term investors and even long-term investors. Publicly traded REITs, which are generally traded on major stock exchanges, are often associated with liquidity and stable cash flows, but they are also affected by the ebb and flow of the markets, and like their non-traded counterparts, they may come with high fees. As Investopedia notes, REITs also have fairly low capital appreciation. Brokers who recommend unsuitable investments in REITs may be found liable for damages.

According to the Financial Industry Regulatory Authority, Peter Economos holds 10 years of securities industry experience. Based in Walnut Creek, California, he has been registered as a broker and an investment advisor with Merrill Lynch since 2016. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He holds 34 state licenses. (Information current as of June 14, 2026.)

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