Douglas De Wayne Peterson (also known as Doug Peterson) of North Platte Nebraska a stockbroker formerly employed by Sagepoint Financial Inc. and investment adviser representative of Professional Financial Advisors is referenced in a customer initiated investment related written complaint which was resolved for $12,895.52 on March 31, 2020 based upon accusations that the customer’s investment instructions were not followed which led the customer to be invested in mutual funds that generated losses.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Peterson has been identified in customer initiated investment related disputes containing allegations of his misconduct while he was employed by SunAmerica Securities Inc. and AIG Financial Advisors Inc. Peterson is the subject of a customer initiated investment related arbitration claim in which the customer has been awarded $21,243.39 in damages based on Peterson and SunAmerica Securities Inc. being found liable for causing the customer’s losses. According to the claim, a fiduciary duty that was owed to the customer had been breached. Transactions were executed in the customer’s account on an unsuitable basis causing the customer to incur losses on mutual funds or annuities.
Another customer filed an investment related complaint regarding Peterson’s conduct where the customer requested $38,000.00 in damages supported by accusations of unsuitable investment recommendations by Peterson during the period that he was associated with AIG Financial Advisors.
Peterson’s registration with Sagepoint Financial has been terminated as of December 31, 2018.