Woodbury Financial Services Ordered to Pay Over $1 Million Regarding Robert Hoffman Losses

Have you lost money with financial advisor Robert Hoffman of Greenwood, Indiana?  A couple in southern California recently brought an arbitration claim against Robert Hoffman and his former brokerage firm, Woodbury Financial, alleging that they violated their fiduciary duties and were negligent regarding recommendations to invest in Hybrid Aircraft Company, Edgewood Property Group, the Indiana military building, and two variable annuities issued by Lincoln National and AIG Polaris.

In May 2018, the couple went to an arbitration hearing against Woodbury Financial regarding the investments in Hybrid Aircraft Company, Edgewood Property Group, the Indiana military building, and the two variable annuities.  The claims against Hoffman were stayed because Hoffman filed for bankruptcy.  In June 2018, the arbitration panel issued a ruling, ordering Woodbury Financial to pay $1,091,575.21 to the couple.

Robert Hoffman was a financial advisor and registered representative of Woodbury Financial Services from 2006 to February 2017.  He worked at a branch office in Greenwood, Indiana.  Hoffman has been the subject of three customer complaints, one of which complains about a coal company, an aircraft company, and real estate investments.  Hoffman was also the subject of a $107,000 tax lien in 2014.

Brokerage firms like Woodbury Financial Services 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; Seattle, Washington; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Indiana and throughout the greater Indianapolis area.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Woodbury Financial Services.

Click to view:  Hoffman, Robert BrokerCheck 11.17.17

Click to view:  Hoffman, Robert Arbitration Award

If you lost money with Robert Hoffman or Woodbury Financial Services, 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.