Murray Todd Peterson is a previously registered broker and investment adviser whose 35-year career included 11 customer disputes, one termination, and 5 judgments/liens, according to Financial Industry Regulatory Authority’s (FINRA) BrokerCheck.
Over the course of his career, Peterson worked with Ameriprise; SCF Securities, Inc.; WFG Investments, Inc.; Commonwealth Financial Network; and Financial Network Investment Corporation.
Although three of the customer disputes involving Peterson were either denied or closed with no action, seven complaints have settled, resulting in monetary settlements to the complainants.
Most recently, in November 2020, a claimant alleged fraud and breach of duty on Peterson’s behalf when he sold the client diamonds from an outside activity. That matter reportedly settled for $77,500.
All the other settled disputes reported in BrokerCheck also stem from allegations regarding Peterson’s sale of diamonds while he was an employee of SCF Securities. Settlement amounts in these cases ranged from $9,800 to $351,205.
FINRA received an additional pending dispute in February 2020, although BrokerCheck had not yet received details of the allegations in the claim at the time of this writing. The matter is still pending.
Employment Separation After Allegations
According to BrokerCheck, SCF Securities, Inc. discharged Peterson in October 2019. The allegations cited on the FINRA database include the advisor’s misstating and/or omission of material facts and circumstances regarding an outside business activity.
Judgements and/or Liens
BrokerCheck also presents disclosures of five Internal Revenue Service (IRS) liens against Peterson between July 15, 2013 and February 25, 2020. The amounts of these liens range from $9,219.03 to $164,863.83. Each lien remained outstanding as of this writing. Peterson added comments to his disclosures to the effect that the liens represent the aftermath of the 2008/2009 recession. During this time, Peterson claims that large account receivables were not paid and that he felt the impact of the crisis through 2016.
What Our Clients Say
Below are some of the emails and letters that our clients have sent us.
At a time in our life when we were most vulnerable we lost control of our finances. We fell victim to a broker that took huge commissions and did not disclose that we were not able to access our money. Peter Mougey and his wonderful staff worked with us to make us whole again and got our money released. I cannot say enough about their work ethic, professionalism, and kindness during this stressful time for us. We had a 100% positive conclusion to our case and we strongly recommend Peter and the firm. We can now sleep at night! Fred & Pat H.
My husband and I were very pleased with the work that Peter and his team provided. He was very knowledgeable of the circumstances of our case and kept us informed throughout the process. He is extremely qualified and worked diligently on our behalf. We are positive that this case would not have been resolved in our favor had it not been for Peter's expertise and his passion. He definitely cares about his clients and we sincerely appreciate his efforts. Rachel C.
FRS is a governmental body. FRS retained the services of Peter Mougey of the LP law firm in a multimillion dollar lawsuit involving extremely complex issues. Mr. Mougey quickly mastered the issues and gave advice that was vital in bringing about a successful resolution. Two of the most important features of Mr. Mougey’s representation was his understanding of government and his ability to communicate complicated legal concepts to a 10-member board of trustees in language that was easily understood by all. I did not know Mr. Mougey before FRS retained him and, fortunately, have not experienced circumstances where the system would need his services again. However, if needed, I would have no hesitation in retaining his services again. Please let me know if you need any additional information or assistance. Steven S.
Edison's famous adage can't ever be ignored of course: 1 part inspiration and 99 parts perspiration. However the two attitudes must be present indissolubly--both are essential--if results are to be obtained. Peter Mougey’s group is aware of such a requirement, they work very hard at the latter, and the former comes easily to them, a rare combination anywhere to be found indeed. Raphael B.
I would like to express my sincere gratitude to Peter Mougey and your entire team on behalf of my family for the amazing job done during your representation. From day one I received kindness, rapid responses to all of my questions, with polite and patient encounters with all of your staff assistants. You are the best- and I will be eternally grateful to you and your entire team. Michelle E.