Peter Dieter Nett of The Woodlands, Texas, a stockbroker registered with Ameriprise Financial Services LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $30,000.00 in compensatory damages because Ameriprise Financial Services LLC was held liable on the customer’s claims which included that its stockbroker made unsuitable recommendations, breached fiduciary duties, made omissions and misrepresentations of material fact, and was negligent in connection with the sale of alternative investments and annuities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00161 (November 8, 2021).
This is not the first time that Nett has been referenced in a customer initiated investment related dispute concerning Nett’s conduct in the securities industry. FINRA Public Disclosure shows that Nett was also referenced in a customer initiated investment related complaint that was settled on February 3, 2004, for compensation based upon allegations that Nett recommended bad variable life insurance products when Nett was registered with American Express Financial Advisors.
Nett was also referenced in a customer initiated investment related complaint filed on February 24, 2004, in which the customer requested compensation based upon allegations that Nett made omissions of material fact concerning tax implications when Nett was registered with American Express Financial Advisors. This dispute was denied by the securities broker dealer.
Nett was registered with Ameriprise Financial Services LLC as a stockbroker from April 11, 2002, to September 29, 2022, and registered as an investment adviser representative from June 25, 2002, to September 29, 2022. He has been registered with Hilltop Securities Inc. as a stockbroker and investment adviser representative since September 23, 2022.