Brian Hobbs (CRD #: 2630129), an investment adviser registered with TH Wealth Management, is the subject of an SEC complaint according to his IAPD record, accessed on January 26, 2021. The details of the complaint are provided below.
On December 18, 2020, the SEC filed a complaint that alleged that Brian Hobbs, the sole owner of TH Wealth Management, engaged in a cherry-picking scheme. Cherry picking describes a type of fraud in which an investment adviser observes how securities perform throughout the day and then unfairly allocates the trades. They might keep the winning trades for themselves or spread them out among investor accounts to cover up the poor performance of other securities. The SEC alleges that this cherry-picking scheme defrauded investors of more than $275,000 in trading profits. You can read a copy of the complaint here.
Unauthorized Trading Allegations
On February 26, 2014, an investor alleged that Brian Hobbs recommended unsuitable investments that led to losses. The investor further alleged that Hobbs executed unauthorized trades. The investor sought $63,009; the dispute settled for $36,000.
On March 28, 2013, an investor alleged that Brian Hobbs executed unauthorized trades and engaged in forgery. The investor sought $125,000; the dispute settled for $120,000.
Brian Hobbs has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities State Law Examination, the Series 7 General Securities Representative Examination, and the Series 24 General Securities Principal Examination. He is a registered investment adviser in Texas.
Brian Hobbs has worked in the securities industry for 25 years. During his quarter century of experience, Hobbs has worked at five firms:
- TH Wealth Management (CRD #: 165101)
- Andrew Garrett (CRD #: 29931)
- RBC Dain Rauscher (CRD #: 31194)
- HD Vest Investment Securities (CRD #: 13686)
- Dain Rauscher (CRD #: 7600)
If Brian Hobbs was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for a free case consultation with a securities attorney.