Peter Jerome Mersberger (also known as Pete Mersberger), of Sheboygan Falls, Wisconsin, a stockbroker formerly registered with Voya Financial Advisors Inc., is referenced in a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages based upon accusations of Mersberger misrepresenting alternative investments, including a business development company and real estate security, during the time that he was associated with Voya Financial Advisors. The complaint alleges that Mersberger’s unsuitable transactions resulted in damages.
Mersberger has been identified in three more customer initiated investment related disputes regarding allegations of his wrongdoing while employed by securities broker dealers, including ING Financial Services Inc., Locust Street Securities Inc., and Voya Financial Advisors. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that a customer initiated investment related complaint regarding Mersberger’s conduct was resolved for $20,000.00 in damages supported by accusations of unauthorized mutual fund transactions when Mersberger was employed by Locust Street Securities Inc.
Mersberger is identified in a customer initiated investment related written complaint in which the customer requested $85,000.00 in damages founded on allegations of misrepresentation relating to a variable annuity purchased by the customer when Mersberger was registered with ING Financial Services Inc. According to the complaint, the customer was led to believe that they could receive guaranteed interest of seven percent annually for ten years and that they could withdraw their investment after ten years.
On March 26, 2021, another customer initiated investment related arbitration claim involving Mersberger’s activities was settled for $35,000.00 in damages based upon accusations of unsuitable real estate security transactions for the customer’s Voya Financial Advisors account. FINRA Arbitration No. 20-01002. The claim alleges that the customer was not made aware of the lack of liquidity in the real estate security.
Mersberger’s stockbroker and investment adviser representative registrations with Voya Financial Advisors were terminated on November 7, 2017. Since November 7, 2017, Mersberger has been associated with Cambridge Investment Research Inc. as a stockbroker and investment adviser representative.
