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Investors Allege Kevin Hobbs Responsible for Losses

Dec 22, 2022 Unsuitable Investments

Kevin Hobbs (CRD #: 4267482), a broker formerly registered with PFS Investments, is the subject of two pending investor disputes, according to his BrokerCheck record, accessed on December 13, 2022. If you want to learn more about his alleged conduct as a broker, keep reading.

Investor Disputes

On September 13, 2022, multiple investors alleged that Kevin Hobbs was responsible for losses in accounts not held with PFS Investments. The clients seek $800,000 in damages in this pending dispute.

In a dispute filed on September 27, 2022, an investor alleged that Kevin Hobbs made unsuitable investment recommendations for the client’s accounts held outside PFS Investments. The client seeks $537,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which contains information about the client’s risk tolerance, age, and tax status.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information

Kevin Hobbs has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 26 – Investment Company Products/Variable Contracts Principal Examination

Kurta Law Can Help

If you worked with Kevin Hobbs and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.