Investors apparently complained about securities broker Peter Kyung Hoon Rhee (also known as Peter Kyung Moon Rhee) [CRD: 2326728, Frankfort, Illinois], based on publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Rhee has worked with Cetera Advisors LLC since September 8, 2022, and for Cetera Investment Advisers LLC since November 12, 2020. Previously, he was employed by First Allied Securities Inc. from June 12, 2015, to September 8, 2022, and by First Allied Advisory Services Inc. from June 12, 2015, to November 12, 2020. Read on to find out more about the disclosures involving Rhee.
Cetera Advisors Client Alleged Unsuitable Recommendations By Rhee
Specifically, a client filed a complaint about Peter Rhee. The client alleged that Rhee failed to supervise, was negligent, and made unsuitable recommendations. Consequently, the investor allegedly incurred damages connected to real estate securities. For this reason, on August 28, 2024, Cetera Advisors LLC settled this matter by paying the client $10,000.00 in damages.
Peter Rhee Disclosed Negligence Allegations By Investment Planners Inc. Client
Particularly, a client of Investment Planners Inc. disputed Peter Rhee’s sales practices by filing FINRA Arbitration No. 22-01467. Allegedly, Rhee breached his fiduciary duty, made unsuitable investment recommendations, was negligent, and negligently supervised certain representatives. It appears that Rhee caused the client to sustain damages linked to equipment leasing products. Therefore, Investment Planners Inc. opted to settle the matter on October 21, 2022, by compensating the client totaling $23,750.00.
Cetera Advisors LLC Investor Accused Rhee Of Misrepresentation
Also, a Cetera Advisors LLC client filed FINRA Arbitration No. 22-00955 about Peter Rhee. Mainly, the client alleged that Rhee gave unsuitable advice and made misrepresentations relating to oil and gas investments. As a result, on June 20, 2023, Cetera Advisors LLC settled this matter by paying the client $100,000 in damages.
Peter Rhee Disclosed Unsuitable Recommendations Allegations By Investment Planners Inc. Client
Additionally, a client of Investment Planners Inc. contested Peter Rhee’s sales practices by bringing FINRA Arbitration No. 20-03781. Allegedly, Rhee made unsuitable recommendations of alternative investments. Therefore, Investment Planners Inc. agreed to settle the matter on February 28, 2022, by paying $30,000.
Were You Impacted By Financial Advisor / Securities Broker Rhee?
Do you have concerns or questions regarding investments you made with Peter Rhee? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. For more than a decade, Soreide Law Group has recovered losses for clients throughout the United States. The firm also works on a contingency fee basis and advances all costs. Rhee and brokerage firms Rhee worked for deny all allegations of sales practice violations.
