Stoltmann Law Offices continues to investigate Clay Hoffman, a former broker with Summit Brokerage, who has recently been barred from the industry by the Financial Industry Regulatory Authority (FINRA). Mr. Hoffman previously was suspended by FINRA for his alleged failure to respond to FINRA’s request for information. He was later barred in November 2016 for his alleged failure to respond to multiple requests for documents and information related to an investigation. His license was suspended in February 2016 due to the findings that alleged that he engaged in unauthorized business practices and executed discretionary transactions in a customer account without any written authorization from the customer or the firm. He was also accused of alleged misrepresentation, unsuitability and unauthorized trading. He also allegedly caused a loss for a client due to the misrepresentation of Mutual Funds while employed at SunTrust and Summit Brokerage Services.
Previously, Mr. Hoffman was registered with Edward Jones in Tifton, Georgia from May 2001 until June 2007, Merrill Lynch in Ponte Verde Beach, Florida from June 2007 until October 2007, SunTrust Investment Services in St. Simons, Georgia from October 2007 until April 2013 and Summit Brokerage Services in Brunswick, Georgia from May 2013 until March 2016. He has 14 customer disputes against him. He has been permanently barred from the industry. Please call our Chicago-based law firm today to find out how to sue Summit Brokerage Services on a contingency fee basis. Attorneys are standing by.
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