PETER JOSEPH GLOWACKI Investment Fraud Investigation

March, 2025 | Based in Brookfield, WI

Have you suffered financial losses while working with Peter Joseph Glowacki? You may be entitled to compensation for misconduct. Contact our skilled investment fraud attorneys today to explore your recovery options. Call 800-950-6553 or complete our online form for a confidential, no-obligation consultation about your case.

Essential Information About Peter Joseph Glowacki

• Full Name: Peter Joseph Glowacki
• CRD Number: 1156214
• Current Status: Not currently registered with FINRA
• Last Known Location: Brookfield, WI
• Recent Employers: TCFG Wealth Management, LLC (04/2023-04/2024), RBC Capital Markets, LLC (03/1998-03/2023)
• Office Address: 1615 Valley Forge Ct, Brookfield, WI 53045 (last reporte
• Registration History: Previously registered with multiple firms over a 40-year career (1983-2024)
• Disclosure Events: 1 Regulatory Action and 1 Employment Termination
• Professional Experience: In the securities industry since 1983 (over 40 years)
• FINRA Sanctions: Two-month suspension (12/02/2024-02/01/2025) and $10,000 fine
• Other Business Activities: TCFG Investment Advisors, LLC and TCFG Insurance Solutions, LLC

Recent Regulatory Actions and Employment Separation

Peter Joseph Glowacki, a financial advisor with more than four decades of industry experience, is currently facing serious regulatory sanctions and is no longer registered with FINRA. An examination of his FINRA BrokerCheck report reveals concerning patterns of conduct that raise significant red flags for investors who may have worked with him.

In November 2024, FINRA sanctioned Glowacki following an investigation (Case #2023078269701) that uncovered multiple violations of securities industry rules. According to FINRA’s findings, Glowacki exercised discretionary authority when placing 105 trades in accounts belonging to nine different customers without obtaining the required prior written authorization. Additionally, he used unapproved communication channels—specifically text messages from his personal cell phone—to conduct securities business with clients, bypassing his firm’s supervision and record-keeping requirements.

Prior to these sanctions, Glowacki was discharged from RBC Capital Markets, LLC in February 2023 after approximately 25 years with the firm. According to the termination report, he was dismissed for violating the firm’s Time & Price Discretion, Order Execution, Electronic Communications, and Licensing & Registration policies. Although Glowacki disputed some aspects of these allegations in his broker statement, the subsequent FINRA investigation confirmed the substance of the misconduct.

Understanding Discretionary Trading Violations

One of the primary violations cited in FINRA’s action against Glowacki involved unauthorized discretionary trading. In the securities industry, discretionary trading occurs when a broker makes trades in a client’s account without consulting the client about the specific transaction before it occurs. While discretionary trading is legal under certain conditions, it requires:

1. Prior Written Authorization: The client must provide written permission allowing the broker to exercise discretion in their account.
2. Firm Acceptance: The brokerage firm must formally accept the account as discretionary.
3. Appropriate Documentation: The authorization must be properly documented and maintained in accordance with regulatory requirements.
4. Ongoing Supervision: The brokerage firm must implement special supervision procedures for discretionary accounts to prevent abuse.

In Glowacki’s case, FINRA found that while he may have discussed trading strategies with clients in general terms, he executed 105 specific trades without obtaining the required authorizations. This type of unauthorized discretion creates several risks for investors:

• Excessive Trading (Churning): Without proper oversight, discretionary authority can lead to excessive trading that generates commissions for the broker at the expense of the client.
• Unsuitable Investments: Discretionary authority may result in investments that don’t align with the client’s objectives, risk tolerance, or financial situation.
• Loss of Control: Clients lose direct control over specific investment decisions when brokers exercise unauthorized discretion.
• Lack of Transparency: Unauthorized discretionary trading often lacks proper documentation and disclosure, making it difficult for clients to track investment decisions.

Communication and Record-Keeping Violations

The second significant violation in Glowacki’s case involved the use of unauthorized communication channels. FINRA rules require all business-related communications to be conducted through approved channels that can be monitored, archived, and reviewed by the brokerage firm. These requirements exist to:

1. Protect Investors: Ensure all recommendations and advice are suitable and accurately represented.
2. Maintain Records: Create a documented trail of all communications between brokers and clients.
3. Facilitate Supervision: Allow firms to detect and prevent potential misconduct.
4. Ensure Compliance: Verify adherence to securities laws and regulations.

According to FINRA’s findings, Glowacki used text messages on his personal cell phone to communicate with clients about securities business, including:

• Confirming executed trades
• Discussing investment ideas and recommendations
• Accepting orders
• Managing fund transfers

By using these unauthorized channels, Glowacki circumvented his firm’s supervision systems and caused the firm to maintain incomplete books and records. This conduct violated FINRA Rules 4511 and 2010, which require brokers to maintain high standards of commercial honor and just and equitable principles of trade.

The Significance of the Sanctions

FINRA imposed significant sanctions on Glowacki as a result of these violations:

1. Two-Month Suspension: Glowacki was suspended from association with any FINRA member in all capacities from December 2, 2024, to February 1, 2025. During this period, he was prohibited from conducting any securities business.
2. $10,000 Fine: A substantial monetary penalty was imposed, highlighting the seriousness of the violations.

The severity of these sanctions reflects FINRA’s view that these violations represented significant breaches of industry standards and potentially put investors at risk. It’s worth noting that Glowacki neither admitted nor denied the allegations but consented to the entry of FINRA’s findings through an Acceptance, Waiver & Consent (AWC) agreement.

Glowacki’s Professional Background

Before these recent issues, Glowacki had built a lengthy career in the financial services industry:

• He entered the securities industry in 1983, obtaining his Series 7 (General Securities Representative) and Series 63 (Uniform Securities Agent State Law) licenses.
• In 1996, he added the Series 65 (Uniform Investment Adviser Law) qualification, expanding his ability to provide investment advisory services.
• His employment history includes positions at well-established firms:
  • TCFG Wealth Management, LLC (04/2023-04/2024)
  • RBC Capital Markets, LLC (03/1998-03/2023)
  • Dain Rauscher Incorporated (05/1990-03/1998)
  • Smith Barney, Harris Upham & Co., Incorporated (07/1983-06/1990)
• More recently, he was also affiliated with TCFG Investment Advisors, LLC and TCFG Insurance Solutions, LLC, where he was involved in variable and fixed insurance sales.

This extensive experience and longevity in the industry makes the recent regulatory issues particularly noteworthy, as they represent a significant departure from what would be expected of a seasoned financial professional.

Implications for Investors

If you were a client of Peter Joseph Glowacki, particularly during his time at RBC Capital Markets or TCFG Wealth Management, you may have been affected by the conduct that led to his regulatory sanctions. Consider these potential concerns:

1. Unauthorized Trading: If Glowacki placed trades in your account without your specific authorization for each transaction, these trades may have been executed without proper authority.
2. Record-Keeping Issues: If you communicated with Glowacki via text message about your investments, these communications may not have been properly supervised or archived by his firm.
3. Supervision Failures: The violations suggest potential gaps in supervision that could have allowed other problematic practices to occur.
4. Financial Impact: Unauthorized discretionary trading may have led to excessive transactions, unnecessary fees, or investments that weren’t aligned with your objectives.

Investors who worked with Glowacki should carefully review their account statements and transaction history for any unusual or unauthorized activity. Pay particular attention to:

• High volumes of trading
• Transactions you don’t recall authorizing
• Investments that seem inconsistent with your stated goals
• Unexpected fees or commissions

Red Flags for All Investors

The Glowacki case highlights several warning signs that all investors should watch for when working with any financial advisor:

1. Communication Outside Official Channels: Be wary of advisors who prefer to communicate through personal email, text messages, or messaging apps instead of firm-approved channels.
2. Trades Without Express Authorization: In non-discretionary accounts, each trade should be specifically discussed and approved before execution.
3. Lack of Documentation: All important discussions about your investments should be documented formally, not just through casual communications.
4. Resistance to Questions: Financial advisors should welcome questions about their trading strategies and be able to clearly explain the rationale behind each recommendation.
5. Excessive Trading Activity: Frequent buying and selling in your account, especially without clear justification, may indicate problematic trading practices.
6. Vague Explanations: Be cautious if your advisor provides unclear or evasive explanations when you ask about specific transactions or strategies.

The Regulatory Framework

Financial advisors like Peter Joseph Glowacki operate within a comprehensive regulatory framework designed to protect investors. The violations identified in this case implicate several important rules:

1. FINRA Rule 3260: Requires written authorization from the customer and acceptance by the firm before a broker can exercise discretion in an account.
2. FINRA Rule 4511: Mandates that firms make and preserve books and records in accordance with all applicable laws and regulations.
3. FINRA Rule 2010: Requires brokers to observe high standards of commercial honor and just and equitable principles of trade.
4. SEC Regulation S-P: Governs the treatment of nonpublic personal information about consumers by financial institutions.
5. Securities Exchange Act Rule 17a-4: Establishes record-keeping requirements for broker-dealers, including the retention of all communications relating to the firm’s business.

These rules exist to ensure transparency, accountability, and fair treatment of investors. When these standards are violated, regulators like FINRA can impose sanctions ranging from fines and suspensions to permanent bars from the industry.

Steps for Affected Investors

If you believe you may have been impacted by Peter Joseph Glowacki’s misconduct, consider taking these important steps:

1. Review Your Records: Carefully examine your account statements, trade confirmations, and any communications with Glowacki.
2. Document Everything: Compile all relevant documents, including account agreements, investment objectives, risk tolerance questionnaires, and communications.
3. Calculate Potential Damages: Assess the financial impact of any unauthorized or unsuitable transactions.
4. Consult with an Attorney: Speak with a securities attorney who specializes in investment fraud and FINRA arbitration.
5. File a Complaint: Consider filing a complaint with FINRA, the SEC, or your state securities regulator.
6. Understand Time Limitations: Be aware that FINRA arbitration claims generally must be filed within six years of the event giving rise to the claim.

How Our Investment Fraud Attorneys Can Help

Our law firm specializes in representing investors who have suffered losses due to broker misconduct. If you worked with Peter Joseph Glowacki and experienced losses, our experienced securities attorneys can:

1. Evaluate Your Case: Provide a comprehensive analysis of your potential claims based on a review of your account documentation and transaction history.
2. Identify Violations: Determine whether specific FINRA rules or securities laws were violated in your case.
3. Calculate Damages: Precisely quantify your financial losses attributable to misconduct, including direct losses and opportunity costs.
4. Pursue Recovery Options: Guide you through the FINRA arbitration process, which is typically the required forum for resolving disputes with brokers and brokerage firms.
5. Build a Compelling Case: Gather evidence, interview witnesses, and develop a comprehensive legal strategy tailored to your specific situation.
6. Negotiate Settlements: Work to resolve your claim through negotiation when possible, potentially avoiding the need for a full arbitration hearing.
7. Represent You at Hearings: Provide skilled representation if your case proceeds to a FINRA arbitration hearing.

Our attorneys work on a contingency fee basis, meaning you pay no fees unless we recover money for you. This arrangement ensures that quality legal representation is accessible regardless of your current financial situation.

If you’ve suffered investment losses while working with Peter Joseph Glowacki, don’t hesitate to seek professional advice about your recovery options. Your financial security deserves protection, and time limitations may apply to your claim. Call 800-950-6553 today or complete our online form to schedule your confidential consultation with our experienced investment fraud attorneys.

Chetan Patil

Chetan Patil is the founder and Managing Partner of the Patil Law. He brings over 15 years of extensive experience in diverse complex disputes and transactions, across the country. Mr. Patil specializes in litigations, trials, arbitrations, and appeals of complex securities, FINRA, financial and business disputes, with an emphasis in securities, financial services, and financial regulatory law.