Stevan Hoffman Allegedly Made an Investment Recommendation to Generate High Fees

Stevan Hoffman (CRD #: 4552883), a broker registered with Cambridge Investment Research, Inc., is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on April 29, 2024. Keep reading if you have questions regarding his allegations. 

Investor Allegations 

On February 22, 2024, an investor alleged that Stevan Hoffman made an investment recommendation for the purpose of generating high commissions and fees. The investors further alleged that they were deprived of the ability to generate reasonable returns that a diversified portfolio would have generated. 

FINRA Rule 2111 – Excessive Fees 

FINRA Rule 2111 requires brokers to recommend investments that suit their investor’s needs. They must consider several factors, including their investor’s age, risk tolerance, and financial goals. Investments may also be unsuitable because they come with excessive fees, which unfairly take away from investor returns.

Failure to Diversify 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s risk tolerance. A lack of diversification may increase the portfolio’s exposure to risk because it overconcentrates an investor’s portfolio in the same stock or sector. 

Background Information 

Stevan Hoffman has passed the following exams: 

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

He is a registered broker and investment adviser in California. He is also a registered broker in Nevada and Oregon. 

During his 21 years of experience, Stevan Hoffman has registered with the following firms: 

• Cambridge Investment Research (CRD #: 39543) 
• Cambridge Investment Research Advisors (CRD #: 134139) 
• MetLife Securities (CRD #: 14251) 
• Lincoln Financial Advisors Corporation (CRD #: 3978) 
• The Lincoln National Life Insurance Company (CRD #: 2580) 

Kurta Law Can Help 

If you have worked with Stevan Hoffman and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.