Patrick Hobert Allegedly Recommended Unsuitable High-Risk Investments

Patrick Hobert (CRD #: 805680), a broker registered with Centaurus Financial, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on September 15, 2025. Keep reading for more information about his alleged conduct as a broker.

Investor Dispute

Five pending disputes, filed from June 2024 to July 2025, alleged that Patrick Hobert recommended unsuitable investments. These disputes seek a total of $379,000.

In a dispute filed on June 20, 2023, multiple investors alleged that Patrick Hobert misrepresented a speculative, illiquid, and high-risk investment. This dispute was settled for $50,500.

On June 6, 2022, an investor alleged that Patrick Hobert recommended a high-risk and illiquid, and high-commission investment in March 2020. This dispute was settled for $50,474.59.

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.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. Misrepresenting or omitting facts concerning an investment’s risks, limitations, or other features violates this rule.

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 six states and a registered investment adviser in Arizona, California, Idaho, 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.