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 or a family member suffered significant investment losses while working with Peter Maller or Osaic Wealth, Inc., you may have legal avenues for recovery. Our team of experienced securities fraud lawyers at Meyer Wilson Werning can help you determine whether your losses are the result of actionable misconduct or supervisory failures.

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
The investigation into Peter Maller illustrates the devastating impact that unsuitable advice and supervisory gaps can have on retirement security and family finances. Investors who have suffered losses tied to Peter Maller or Osaic Wealth can seek recovery through arbitration, a process designed to resolve disputes between investors and brokerage firms. Because brokerage firms are legally responsible for the actions of their advisors, you may be able to pursue a claim even if the advisor is no longer registered.
To build a strong case, investors should gather all relevant records, including monthly statements and correspondence, and document the timeline of when products like AGP or specific annuities were recommended. Our firm evaluates potential supervisory lapses to determine if the firm ignored red flags, such as overconcentration or the sale of products that did not match a client’s stated risk profile.
If you experienced losses involving Peter David Maller, Osaic Wealth, Inc., or OSAIC FA, Inc., the Meyer Wilson Werning team is ready to help you hold these firms accountable. Contact us today for a free and confidential consultation to discuss your situation and explore your options for financial recovery.
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.