Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 26, 2016 indicate that New York-based Portfolio Advisors Alliance broker Vincent Hoban III is the subject of a pending customer dispute. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Hoban (CRD# 2250159).
Vincent Hoban has spent 24 years in the securities industry and has been registered with Portfolio Advisors Alliance in New York, New York since 2012. Previous registrations include Charles Morgan Securities in New York, New York; Capitol Securities Management in Middletown, New Jersey; First Southeastern Securities Group in Red Bank, New Jersey; Joseph Gunnar & Company in New York, New York; Briarwood Investment Counsel in New York, New York; Maidstone Financial, which has been expelled by FINRA, in New York, New York; Smith Barney in New York, New York; and Merrill Lynch in New York, New York. He is a registered broker with ten US states: California, Connecticut, Florida, Illinois, Maryland, New Jersey, New York, Texas, Washington, and West Virginia.
According to his BrokerCheck report, Vincent Hoban has received one customer complaint, one pending customer complaint, and one FINRA sanction.
In September 2016 a customer alleged he, while employed at Portfolio Advisors Alliance, breached his fiduciary duty, made unsuitable recommendations, failed to supervise, committed fraud, and breached contract. The customer is seeking $383,500 in damages in the pending complaint.
In 2012 FINRA sanctioned Vincent Hoban following allegations he made exaggerated and unwarranted statements with respect to two stocks. He was issued a one-month suspension and a fine of $10,000.
In 2012 Vincent Hoban voluntarily resigned from his position at Charles Morgan Securities following allegations he was cited for potential violations of FINRA and NASD rules.
In 1997 a customer alleged he, while employed at Smith Barney, executed unauthorized trades and misrepresented material facts. The complaint settled for $237,000.
FINRA Rule 3110(a)(2) requires broker-dealer firms to assign “an appropriately registered principal(s)” to perform supervisory duties for every type of business the firm conducts. Principals are required to ensure the compliance of individual representatives as well as the firm as a whole. Relevant issues include the representatives’ character and qualifications, outside employment, and regulation of business transactions. Representatives may not engage in outside business activities or securities transactions without providing written notice to their supervising principals. Principals who fail in their supervisory duties may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Vincent Hoban, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get paid if and when you collect money. 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.