Columbus, Ohio financial advisor Tom Bates (CRD# 1037294) allegedly gave misleading investment advice, according to a recent investor complaint. Financial...Read More
Peter Rhee: $250K AGP Complaint Against Mosaic Private Wealth Advisor
Peter Rhee (CRD# 2326728), a financial advisor in Frankfort, Illinois, has received an investor complaint alleging his unsuitable investment recommendations caused six-figure damages. Financial Industry Regulatory Authority records show that he is a broker with First Allied Securities and an investment advisor with Cetera Investment Advisers, doing business as Mosaic Private Wealth.
Mr. Rhee’s BrokerCheck report discloses two pending investor complaints against him. The most recent, filed in June 2022, alleges that as a representative of Investment Planners, he made misstatements regarding and an unsuitable recommendation to invest in AGP, an oil and gas investment. The pending complaint alleges damages of $250,000.
An earlier investor complaint disclosed on his BrokerCheck report alleged that while at Investment Planners, he recommended unsuitable investments in alternative products. In February 2022 the complaint reached a settlement of $30,000.
In a comment on the settled complaint’s disclosure, Mr. Rhee described the allegations as “baseless” and “firmly” denied them. “All investments I recommended to this client were suitable at the time of recommendation and consistent with the client’s risk tolerance and investment objectives,” he wrote, adding: “While it is unfortunate that one investment out of her overall portfolio may not have performed as we expected, the client understood the risks of her investments and all facts at that time related to the particular investment met client suitability requirements.” He concluded by noting that he was not a named defended in the arbitration case, nor was his current member firm, First Allied Securities.
According to the Financial Industry Regulatory Authority, Peter Rhee holds 20 years of securities industry experience. Based in Frankfort, Illinois, he has been a broker with First Allied Securities and an investment advisor with Cetera Investment Advisers since 2015 and 2020, respectively, doing business as Mosaic Private Wealth. His past registrations include Investment Planners, Wells Fargo Advisors, A.G. Edwards & Sons, Morgan Stanley, Refco Securities, LFG, and American Investment Services. His credentials include the passage of six securities industry qualifying examinations: the National Commodity Futures Examination, or Series 3; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Alabama, Arizona, California, Florida, Illinois, Indiana, and Minnesota. (Information current as of June 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.