Our firm is investigating Merrill Lynch, Pierce, Fenner & Smith Incorporated financial advisor and stockbroker Peter Christopher Economos (CRD# 6596680) of Walnut Creek, California for potential investment-related misconduct.
Financial Advisor’s Career History
Peter Christopher Economos is currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated at its Walnut Creek, California branch office. According to FINRA BrokerCheck, he has been registered with Merrill Lynch as a broker since March 18, 2016, and as an investment adviser representative since May 5, 2016.
BrokerCheck reports no prior securities firm registration history for Economos. His reported employment history includes Merrill Lynch, Pierce, Fenner & Smith Incorporated, where he has worked as a financial advisor since December 2015, and Bank of America, N.A., where he has worked as a financial advisor since October 2016.
Economos is registered with 6 self-regulatory organizations and licensed in 32 U.S. states and territories through Merrill Lynch. He has passed the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, and the Series 66 Uniform Combined State Law Examination.
Peter Christopher Economos Fraud Allegations and Investor Complaints Explained
According to FINRA BrokerCheck, Peter Christopher Economos has one disclosed customer dispute. The disclosure involves allegations that, while he was employed by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Economos failed to follow customer instructions from April 2020 through March 2026.
The product type listed in the disclosure is “Other: Real Estate Investment Trust (REITS).” BrokerCheck lists alleged damages as $0.00, while also stating that damages were not specified. The complaint was received on March 4, 2026, was not an oral complaint, was a written complaint, and was not an arbitration, CFTC reparation, or civil litigation matter.
Customer Dispute Disclosure
For context, the disclosure reported in BrokerCheck includes:
- Action: Customer dispute involving allegations that the financial advisor failed to follow instructions from April 2020 through March 2026.
- Product Type: Real Estate Investment Trusts, or REITs.
- Employing Firm: Merrill Lynch, Pierce, Fenner & Smith Incorporated.
- Date Complaint Received: March 4, 2026.
- Alleged Damages: $0.00; damages not specified.
- Complaint Type: Written customer complaint.
- Pending Status: Not pending.
- Disposition: Denied.
- Status Date: May 11, 2026.
Why the REIT-Related Allegations Matter
REITs can involve risks that are different from traditional publicly traded stocks and bonds, including liquidity limitations, valuation issues, distribution risks, concentration concerns, and potential difficulty exiting the investment. When a customer alleges that a broker failed to follow instructions involving REITs, the dispute may raise questions about whether the advisor properly carried out the client’s directions, documented communications, and handled the account in accordance with the customer’s objectives and instructions.
The disclosure was denied, and the allegations should not be treated as findings of wrongdoing. However, investors who experienced losses after giving instructions related to REITs or other investment products may wish to review their records, account statements, trade confirmations, emails, and any notes documenting what instructions were given and whether those instructions were followed.
To obtain a copy of Peter Christopher Economos’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2010 requires brokers and brokerage firms to observe high standards of commercial honor and just and equitable principles of trade. In the context of the customer dispute involving Peter Christopher Economos, this rule may be relevant because the complaint alleges that a financial advisor failed to follow customer instructions over a multi-year period involving REITs. If a broker disregards a customer’s directions, delays action, or handles an account in a manner inconsistent with client instructions, that type of conduct may raise fair-dealing concerns under FINRA’s broad ethical rule.
FINRA Rule 3260 governs discretionary accounts and limits when a broker may exercise discretion in a customer’s account. Although the BrokerCheck disclosure does not state that the account was discretionary, allegations that a broker failed to follow instructions can raise related questions about whether the advisor substituted his own judgment for the customer’s stated directions or otherwise acted without proper customer authorization. In any dispute involving alleged failure to follow instructions, account authority, written permissions, trade records, and communications may become important evidence.
FINRA Rule 3110 requires brokerage firms to establish and maintain a supervisory system reasonably designed to achieve compliance with securities laws and FINRA rules. In the context of the Economos disclosure, this rule may be relevant to Merrill Lynch’s supervision of customer instructions, REIT-related account activity, complaint handling, and documentation. When a customer alleges that instructions were not followed over an extended period, one issue may be whether the firm had adequate systems to review communications, monitor account activity, and respond to customer concerns.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.