Peter Glowacki: FINRA Suspends TCFG, Ex-RBC Advisor

Brookfield, Wisconsin financial advisor Peter Glowacki (CRD# 1180975) was recently sanctioned in connection with allegations that he exercised discretion without authorization. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former RBC Capital Markets broker is now registered with TCFG Investment Advisors.

A Letter of Acceptance, Waiver, and Consent (No. 2023078269701) describes FINRA’s disciplinary action against Mr. Glowacki. Filed in November 2024, it alleges that he exercised discretion in the execution of 98 transactions in 12 customer accounts held by nine customers of RBC Capital Markets. He “discussed his trading with the customers generally,” FINRA stated, but he did not have written authority to exercised discretion in the accounts, nor did he speak with them about the specific trades concerned by the sanction. “In addition,” FINRA found, “RBC did not accept the accounts as discretionary.”

The AWC Letter alleges further that after he moved from RBC Capital Markets to TCFG Wealth Management, he exercised discretion in the execution of seven transactions in the accounts of two customers without written authorization. These and the trades he conducted at RBC constituted violations of FINRA Rule 3260, FINRA alleged. This rule prohibits brokers like Mr. Glowacki from exercising discretionary power in customer accounts without their prior written authorization, as well as the firm’s approval of the account for discretionary trading.

In addition to his allegedly unauthorized discretionary trades, FINRA found that Mr. Glowacki “used an unapproved channel for securities-related communications.” As the Letter explains, he communicated with 12 RBC clients about securities business using text messages sent from his personal cell phone, despite firm policies prohibiting this. “[Mr.] Glowacki did not provide those text messages to RBC for review or retention,” FINRA found, thus causing the firm to maintain incomplete books and records in violation of FINRA Rules 4511 and 2010. As a result of these findings, FINRA issued him a fine of $10,000 and a two-month suspension from associating with any FINRA member firm in any capacity.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Peter Glowacki holds 41 years of securities industry experience. Based in Brookfield, Wisconsin, he has been registered as an investment advisor with TCFG Investment Advisors since May 2023. His past registrations include TCFG Wealth Management, RBC Capital Markets, Dain Rauscher, and Smith Barney Harris Upham. He is licensed in Wisconsin. (Information current as of November 25, 2024.)

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