Lincoln Financial Advisors Corporation broker Peter Maller (CRD# 2322403) accused of unsuitable investment recommendations. Maller has been registered with Lincoln Financial Advisors Corporation in Hunt Valley, Maryland since 1993.
Maller has been the subject of three customer complaints between 2017 and 2019, according to his CRD report:
August 2019. “The claimant alleges the RR invested her life savings in an unsuitable and deceptive manner, specifically concentrating her assets in annuities and illiquid, non-publicly traded investments.” The case is currently pending. The complaint took place while Maller was registered with Lincoln Financial Advisors and was regarding variable annuities and real estate securities.
April 2019. “The client alleges the RR recommended an investment strategy in 2013 that failed to account for tax liabilities and recommended unsuitable investments.” The customer is seeking $350,394 in damages and the case is currently pending. The complaint took place while Maller was registered with Lincoln Financial Advisors and was regarding real estate securities.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Lincoln Financial Advisors Corporation may be liable for investment or other losses suffered by Maller’s customers.
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