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Investor Alleges William Hoffman Misrepresented Variable Annuity

Aug 29, 2022 Misrepresentation

William Hoffman (CRD #: 1542724), a broker formerly registered with Royal Alliance Associates, allegedly misrepresented an investment, according to his BrokerCheck record, accessed on August 14, 2022. Keep reading if you want to learn more about his conduct as a broker.

Investor Disputes

On May 17, 2022, an investor alleged that William Hoffman misrepresented features of a variable annuity purchased in 2016. This dispute is pending.

A dispute filed on February 1, 2021, alleged that William Hoffman forged the client’s initials on documentation. This dispute was denied by the firm.

Two disputes filed on October 15, 2020, collectively alleged that William Hoffman misrepresented variable and fixed index annuities and that he forged a client’s initials. These disputes were denied.

However, investors should be aware that firms can deny disputes without an outside review, and investors may be able to recover their funds after a denial by pursuing FINRA arbitration.

FINRA Rules 2020 and 2010

The misrepresentation of investments violates FINRA Rule 2020, which prohibits the use of manipulative, deceptive, and otherwise unethical means of influencing the purchase and sale of securities.

FINRA Rule 2010 requires brokers to uphold high standards of commercial honor and just and equitable principles of trade.

Discharge from Royal Alliance Associates

On August 4, 2020, Wiliam Hoffman was fired from Royal Alliance Associates after the firm allegedly found “irregularities” in client initials on certain fixed annuity applications. William Hoffman allegedly admitted to placing client initials on certain sections.

Background Information

William Hoffman has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 7TO – General Securities Representative Examination
  • Series 6TO – Investment Company Products/Variable Contracts Representative Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination
  • Series 26 – Investment Company Products/Variable Contracts Principal Examination
  • Series 51 – Municipal Fund Securities Principal Examination

He has also worked for the following firms:

  • Great American Advisors (CRD#:36451)
  • Royal Alliance Associates (CRD#:23131)
  • ARM Securities (CRD#:932)

Kurta Law Can Help

If you worked with William Hoffman 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.