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Patrick Hobert Allegedly Recommended Unsuitable High-Risk Investment

Patrick Hobert (CRD #: 805680), a broker registered with Centaurus Financial, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on September 10, 2022. Investors should know that he has 10 other investor disputes on his record. 

Investor Dispute

On June 6, 2022, an investor alleged that Patrick Hobert recommended a high-risk, illiquid, and high-commission investment in March 2020. The investor seeks $100,001 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment matches their investor’s financial goals. Brokers must use the information contained in an investor’s profile, such as their other investments, tax status, and risk tolerance when making recommendations.

Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their money through FINRA arbitration.

Background Information

Patrick Hobert has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 1 – Registered Representative Examination

Patrick Hobert is a registered broker in seven states and a registered investment adviser in Arizona, California, Kentucky, Nevada, and Washington.

He has also worked for the following firms:

  • Wedbush Morgan Securities (CRD#:877)
  • Brookstreet Capital Management (CRD#:14667)
  • Brookstreet Securities Corporation (CRD#:14667)
  • FSC Securities (CRD#:7461)
  • Corporate Benefit Securities (CRD#:13975)
  • Prudential-Bache Securities (CRD#:7471)
  • E. F. Hutton & Company (CRD#:235)
  • Southmark Financial Services (CRD#:6518)
  • CG Equity Sales Company (CRD#:145)
  • American General Capital Planning (CRD#:146)
  • Glicoa Associates (CRD#:6635)
  • PLA Securities Corporation (CRD#:666)
  • Chubb Securities Corporation (CRD#:3870)

Kurta Law Can Help

If you worked with Patrick Hobert and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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. 

 

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