Denver Advisor Peter Egan: $3.5 Million Complaint Denied by Firm

Denver broker Peter Egan (CRD# 2884105) received an investor complaint alleging more than $3 million in damages. Financial Industry Regulatory Authority records show that he is a representative of Northwestern Mutual Investment Services, while his firm’s website shows that he is a representative of Northwestern office Sparks Financial Services. 

Mr. Egan’s BrokerCheck report discloses one investor complaint against him. Filed in April 2022, it alleged that as a representative of Northwestern Mutual Investment Services, he failed to follow instructions, resulting in account losses. The complaint alleged damages of $3.5 million before it was denied by the firm.

A comment on the complaint’s disclosure states that “a thorough review of this matter, which included a review of signed account applications and forms, related email correspondence, account statements, account confirmations and other related documentation,” was unable to find evidence of the customer’s claim. “In addition, the Firm found that reasonable efforts had been made to comply with the customer’s requests once they were communicated. As such, the Firm found no basis to reimburse the customer for any losses alleged to have been incurred in the account,” the comment states. For reference, investors whose complaints are denied by their firm can still pursue recourse through other avenues, like the FINRA arbitration process.

According to the Financial Industry Regulatory Authority, Peter Egan holds 23 years of securities industry experience. Based in Denver, Colorado, the Sparks Financial representative has been registered with Northwestern Mutual Investment Services since 2010. His past registrations include Charles Schwab & Company (Englewood, Colorado; 1999-2009) and Merrill Lynch (New York, New York; 1997-1999). His credentials include the passage of six securities industry qualifying exams: the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; 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 holds 20 state licenses. (Information current as of May 23, 2022.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.