Jeffrey Hill, formerly of Dougherty & Company, LLC, Suspended by Minnesota for One Year
Have you lost money with financial advisor Jeffrey Hill of Bemidji, Minnesota? We are investigating allegations made by the FINRA (the Financial Industry Regulatory Authority), as well as the Minnesota Commission of Commerce, against Jeffrey A. Hill and his former brokerage firm, Dougherty & Company LLC. FINRA alleged that Jeffrey Hill made hundreds of trades for an elderly couple without often getting their permission to make the trades. FINRA also alleged that many of the trades were unsuitable, including short-term trading of bonds.
FINRA also brought a complaint against Dougherty & Company, a Minneapolis, Minnesota-based brokerage firm, alleging that it failed to adequately supervise Jeffrey Hill’s conduct. To settle these allegations, Dougherty & Company agreed to pay a $140,000 fine and $78,910 in restitution to the elderly couple. Jeffrey Hill was also suspended from the securities industry for fifteen months, fined $5,000, and ordered to disgorge commissions of $45,000.
In March 2017, the Minnesota Commission of Commerce brought a complaint against Jeffrey Hill regarding the same conduct. Hill was suspended for one year by Minnesota.
Jeffrey Hill was a financial advisor and registered representative of Dougherty & Company LLC from December 2003 to June 2014. He also worked with Wells Fargo from June 2014 to November 2016. He worked at branch offices in Bemidji and Duluth, Minnesota. Hill’s BrokerCheck report discloses that he was the subject of seven customer complaints, many alleging misrepresentations and unsuitable trades.
Brokerage firms like Dougherty & Company LLC have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado, the Seattle area, and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in Minnesota in the past, such as victims of the Levi Lindemann scam. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Hill, Jeffrey BrokerCheck 11.28.16 (1)
Click to view: Hill, Jeffrey FINRA AWC (1)
Click to view: Hill, Jeffrey Minnesota Order
Click to view: Dougherty & Company FINRA AWC (1)
If you lost money with Jeffrey Hill or Dougherty & Company LLC, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.