Kurt Louis Hoffer of Charlotte North Carolina a stockbroker associated with Summit Brokerage Services Inc. has been referenced in a customer initiated investment related arbitration claim which has been settled for $45,366.00 in damages supported by allegations that the customer sustained unwarranted losses from being placed into unsuitable investments including VXX Fund between 2015 and 2016 which was during the time that Hoffer was employed by Summit Brokerage Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03886 (Mar. 19, 2019).
FINRA Public Disclosure reveals that Hoffer has been referenced in nine more customer initiated investment related disputes concerning accusations of his inappropriate activities while he was associated with securities broker dealers including Legg Mason Wood Walker, Wachovia Securities, Merrill Lynch Pierce Fenner Smith Incorporated and Summit Brokerage Services. A customer initiated investment related complaint in reference to Hoffer’s conduct has been resolved for $110,000.00 in damages based upon accusations of bad over the counter equities trades by Hoffer when he was associated with Merrill Lynch Pierce Fenner Smith Incorporated.
Another customer initiated investment related complaint involving Hoffer’s conduct was settled for $150,000.00 in damages based upon allegations of unsuitable equity trades being effected in the customer’s Merrill Lynch account by the stockbroker.
Hoffer is also referenced in a customer initiated investment related arbitration claim which has been resolved for $75,000.00 in damages founded on accusations of the stockbroker placing the customer in bad mutual funds and over the counter equities during the time that he was employed by Summit Brokerage Services. FINRA Arbitration No. 17-01541 (Apr. 26, 2018).
On April 26, 2018, another customer initiated investment related complaint pertaining to Hoffer’s conduct was settled for $20,000.00 in damages supported by allegations of suitability as it pertained to the exchange traded funds and mutual funds held in the customer’s Summit Brokerage Services account between 2014 and 2018.
Hoffer’s employment with Summit Brokerage Services was terminated on September 20, 2019. He has been registered with Cetera Advisor Networks LLC since September 20, 2019.
