The law firm of Oakes & Fosher is currently investigating the possible misconduct of securities broker Peter Goffin. According to his publicly available FINRA BrokerCheck report, Peter Goffin has been the subject of multiple customer complaints over the course of his career.

Peter Goffin is a Florida based securities broker. He has worked in the securities industry for thirty-two years. During his career, he has been registered with five different securities firms.

His Registrations

  • Commvest Securities (1987-1989)
  • JW Charles Securities (1989-1997)
  • Wachovia Securities Financial Network (1995-2003)
  • Newbridge Securities (2003-Present)

The Allegations 

  • In October 1993, a customer alleged that Peter Goffin recommended unsuitable investments. This case was settled for $48,000 in damages.
  • In June 2002, a customer alleged that Peter Goffin invested them in investments that were riskier then they wanted.
  • In July 2003, an attorney, on behalf of a customer, alleged that Peter Goffin purchased unsuitable mutual funds on their behalf. This case was settled for $29,500 in damages.
  • In March 2019, a customer alleged that Peter Goffin breached his fiduciary duty, breached contract, and handled their account negligently. This case is currently pending. The customer is seeking $150,000 in damages.

What Does This Mean?

Securities brokers are a brand of financial advisor known as fiduciaries. As fiduciaries, these individuals actually have a legal obligation to only make decisions in the best interests of their customers. This obligation is also known as their fiduciary duty. This duty is what helps the relationship between brokers and investors thrive. Investors can be assured that their money will be taken care of because brokers are bound by this duty. Despite this, some less than scrupulous securities brokers will breach their fiduciary duty to serve their own self interests.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

If you, or someone you know, believe that you may have purchased unsuitable securities on Peter Goffin’s recommendations, you may be entitled to damages. If this is the case, contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.