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Richard Petersen Of Allstate Financial Services And Formerly With NYLIFE Securities Has 3 Customer Complaints For Alleged Broker Misconduct

Who is Richard Petersen of Allstate Financial Services?

Richard Petersen (CRD #3062994) who is currently registered with Allstate Financial Services and located in Deer Park, New York is a subject of one of our many securities industry sales practice abuse investigations. Prior to Allstate Financial Services, Richard Petersen was associated with NYLIFE Securities and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Richard Petersen Customer Complaints

Richard Petersen has been the subject of 3 customer complaints that we know about. Two of Richard Petersen’s 3 customer complaints were settled in favor of investors. One of Richard Petersen’s customers’ complaints was denied and, to date, the customer has not taken any further action.

Allegations Against Richard Petersen

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Customer alleged that Richard Petersen’s recommendation to use withdrawals from his variable annuity to fund purchases of fixed annuities and long term care policies was not in his best interest.
  • The customer alleged that, in connection with her variable annuity issued, Richard Petersen’s recommendation was unsuitable and the annuity’s fees and surrender charges were not disclosed. The customer requested reimbursement of surrender charges as well as the taxes incurred in purchasing the annuity.
  • The customer alleged that Richard Petersen’s recommendation to use withdrawals from his variable annuity to fund purchases of fixed annuities and long term care policies were unsuitable.

Richard Petersen Red Flags & Your Rights As An Investor

Of course, Richard Petersen did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Richard Petersen at Allstate Financial Services and NYLIFE Securities on alert to review carefully the activity and performance of their accounts and question whether Richard Petersen has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Allstate Financial Services and NYLIFE Securities also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Allstate Financial Services Due To Richard Petersen

If you have questions about Allstate Financial Services, NYLIFE Securities, and/or Richard Petersen and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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