Financial advisor Peter David Maller, formerly of Osaic Wealth, Inc. and OSAIC FA, Inc., is currently the subject of an investigation following multiple customer disputes involving high-risk and illiquid investment recommendations. These complaints, which include a significant $1,310,000 claim filed in February 2024, allege that investors were steered into complicated energy programs like Atlas Growth Partners (AGP) despite concerns regarding liquidity and overconcentration.
If you suffered losses while working with Peter Maller or Osaic Wealth tied to oil and gas or other illiquid investment recommendations, the alternative investment loss attorneys at Meyer Wilson Werning are reviewing investor claims now. Contact us today for a free and confidential consultation, and you pay nothing unless we recover for you.
Who is Peter David Maller and Why is Osaic Wealth Facing Scrutiny?
Peter David Maller (CRD #2322403) in Hunt Valley, Maryland, served as a representative for major broker-dealers. Records indicate he was associated with OSAIC FA, Inc. (CRD #3978) from March 29, 1993, until January 24, 2025, and Osaic Wealth, Inc. (CRD #23131) from January 24, 2025, through December 31, 2025. He is not currently registered.
The scrutiny facing Osaic Wealth and its affiliates centers on their obligation to monitor complex product recommendations. Under FINRA Rule 3110, firms must maintain supervisory systems to detect and prevent potential violations. When an advisor recommends illiquid or high-risk products like oil and gas partnerships to clients seeking steady income, it can raise questions about compliance with Regulation Best Interest (Reg BI) and FINRA Rule 2111.
Registration History for Peter David Maller (CRD #2322403)
- Osaic Wealth, Inc.: Hunt Valley, MD, from 01/24/2025–12/31/2025 (Previously Registered)
- OSAIC FA, Inc.: Hunt Valley, MD, from 03/29/1993–01/24/2025 (Previously Registered)
- The Lincoln National Life Insurance Co.: Fort Wayne, IN, from 03/29/1993–04/21/2006 (Previously Registered)
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$350 Million for Our Clients Nationwide.
Important Points: Customer Disputes and Allegations Against Peter Maller
Regulatory records disclose a troubling pattern of disputes, with total settlements exceeding $550,000. These claims primarily focus on misrepresentation and the unsuitability of alternative investments. Notable entries include:
- February 16, 2024: A pending arbitration claim seeking $1,310,000 for five clients, alleging unsuitable oil and gas recommendations and failure to disclose liquidity constraints.
- May 10, 2023: A dispute settled for $311,928.71 involving claims that an oil and gas investment was unsuitable for three specific clients.
- February 23, 2023: An Atlas Growth Partners (AGP) claim settled for $110,912.62 after allegations that the investment did not align with the client’s risk tolerance.
- November 1, 2024: A pending claim for $100,000 involving allegedly unsuitable energy-sector investments.
- August 22, 2019: A $115,000 settlement following allegations of unsuitable concentration in annuities and other illiquid, non-publicly traded products.
How Meyer Wilson Werning Can Help
Oil and gas private placements like Atlas Growth Partners carry risks that most retirement investors were never told about, and in many cases, never should have been sold them at all. Total settlements on Maller’s record already exceed $550,000, with a $1.3 million claim still pending. When a broker recommends an illiquid, high-risk energy investment to someone seeking steady income and the firm fails to catch it, both the advisor and the firm bear responsibility.
For over 25 years, Meyer Wilson Werning has recovered more than $350 million for investors harmed by unsuitable and high-risk investment recommendations. If Peter Maller or Osaic Wealth affected your portfolio, contact us today for a free and confidential consultation. You pay nothing unless we recover for you.
Our lawyers are nationwide leaders in investment fraud cases.
Frequently Asked Questions
What is the current status of the Osaic Wealth investigation involving Peter Maller?
The investigation is ongoing, with multiple settlements already on record and several large claims, including a $1,310,000 filing from February 2024, currently pending.
What specific products are mentioned in the Peter Maller disputes?
The majority of complaints center on oil and gas investments, particularly Atlas Growth Partners (AGP), as well as annuities and other illiquid, non-publicly traded alternative investments.
Can I sue Osaic Wealth for my losses?
Under FINRA Rule 3110, firms are responsible for supervising their brokers. If Osaic Wealth or OSAIC FA failed to detect or prevent unsuitable recommendations by Peter Maller, you may be able to pursue a claim against the firm through arbitration to recover your losses.
What is Atlas Growth Partners (AGP) and why is it considered high-risk?
Atlas Growth Partners is a private placement investment in the energy sector. It is considered high-risk because it is highly illiquid, meaning investors cannot easily sell their shares, and it is subject to the extreme volatility of the oil and gas markets. SEC filings have previously revealed liquidity crises and substantial drops in valuation for this product.
Recovering Losses Caused by Investment Misconduct.