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Georgia Broker, Clay Hoffman, Pending Complaints

iStock_sad pplThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Georgia-based Summit broker/adviser Clay Hoffman (CRD# 4371162).

Clay Hoffman has spent fourteen years in the securities industry and has been registered with Summit Brokerage Services in Brunswick, Georgia since 2013. Summit Brokerage Services is a member of the Cetera Financial Group and RCS Capital. Mr. Hoffman’s previous registrations include SunTrust Investment Services in St. Simons, Georgia (2007-2013); Merrill Lynch, Pierce, Fenner & Smith in Ponte Vedra Beach, Florida (2007); and Edward Jones in Tifton, Georgia (2001-2007). He is a broker and investment adviser registered in Georgia.

According to his BrokerCheck report, Clay Hoffman is the subject of seven customer complaints, four pending customer complaints, and was discharged from SunTrust Investment Services.

  • In 2015 a customer alleged Clay Hoffman, while employed at SunTrust Investment Services and Summit Brokerage Services, executed unauthorized transactions, misrepresented material facts, and recommended an unsuitable investment. The customer is seeking $234,697 in damages in the pending complaint.
  • In 2014 a customer alleged Clay Hoffman, while employed at SunTrust Investment Services and Summit Brokerage Services, executed unauthorized trades, breached contract, breached his fiduciary duty, converted client assets, and committed negligent misrepresentation. The customer is seeking more than $77,200 in the pending complaint.
  • In 2014 a customer alleged Clay Hoffman, while employed at Summit Brokerage Services, “stole from her, lied to her and tricked her.” The customer is seeking unspecified damages in the pending complaint.
  • In 2013 a customer alleged Clay Hoffman, while employed at SunTrust Investment Services, breached his fiduciary duty and acted negligently. The complaint settled in 2014 for $23,000.
  • In 2013 a customer alleged Clay Hoffman, while employed at SunTrust Investment Services, recommended an unsuitable investment in mutual funds. The complaint settled for more than $26,300.
  • In 2013 a customer alleged Clay Hoffman, while employed at SunTrust Investment Services, made an unauthorized transaction and failed to disclose sales charges. The complaint settled for more than $4,800.
  • In 2013 a customer alleged Clay Hoffman, while employed at SunTrust Investment Services, unsuitably recommended an annuity that performed poorly, and failed to disclose surrender charges. The complaint settled for more than $12,400.
  • In 2013 a customer alleged Clay Hoffman, while employed at SunTrust Investment Services, executed unauthorized transactions. The complaint settled for $80,000.
  • In 2012 a customer alleged Clay Hoffman, while employed at SunTrust Investment Services, made inappropriate trades and caused poor performance. The complaint settled in 2014 for $12,000.
  • In 2006 a customer alleged Clay Hoffman, while employed at Edward Jones, failed to timely deliver a prospectus and did not adequately explain an investment. The complaint settled for $3,525.

If you or someone you know has a complaint regarding Clay Hoffman, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recoup losses. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect a recovery. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.