Peter Wallace: Oppenheimer Advisor Faced Margin Complaint

A recent, denied investor complaint against North Palm Beach, Florida financial advisor Peter Wallace (CRD# 2232489) alleged that he used margin without authorization. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Oppenheimer & Company.

Mr. Wallace’s BrokerCheck report discloses one investor complaint. Filed in March 2025, it alleged that as an Oppenheimer representative, he used margin without authorization and made unspecified misrepresentations in connection with stock, options, and mutual fund investments. The complaint alleged unspecified damages and was denied by the firm.

A second disclosure on his BrokerCheck report concerns his termination from one of his former member firms, Morgan Stanley Wealth Management. Filed in 2013, it states that the firm fired him “after allegations he made inaccurate statements to an annuity company regarding a client’s whereabouts.”

Oppenheimer & Company’s website includes a profile of Mr. Wallace in which he describes his services as a financial advisor. “ I align each client’s unique goals, values, and needs with holistic planning and design of investment and insurance strategies,” he explains. “I focus on growing and protecting the assets of high net worth clients (individuals, families, corporate executives, and businesses), including leveraging the resources and leadership at Oppenheimer to help clients pursue goals and solve complex financial issues.”

According to the Financial Industry Regulatory Authority, Peter Wallace holds 32 years of securities industry experience. Based in North Palm Beach, Florida, he has been registered as a broker and an investment advisor with Oppenheimer & Company since 2013. His past registrations include Morgan Stanley, Citigroup Global Markets, Wachovia Securities Financial Network, Raymond James Financial Services, and Raymond James & Associates. His credentials include the passage of six securities industry qualifying exams: the General Securities Sales Supervisor – General Module Examination, or Series 10;  the General Securities Sales Supervisor – Options Module Examination, or Series 9; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 15 state licenses. (Information current as of April 19, 2025.)

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