Patrick Hobert Facing Investor Disputes Over Unsuitable Advice

Investors potentially experienced losses due to securities broker Patrick Roland Hobert [CRD: 805680, Newport Beach, California], according to disclosures on FINRA BrokerCheck. According to the regulator, Patrick Hobert has worked for Centaurus Financial Inc. since July 9, 2007. Keep reading to learn more about the disclosures concerning this securities broker.

Centaurus Financial Investor Accused Hobert of Unsuitable Recommendations

Particularly, on July 31, 2024, a Centaurus Financial Inc. client filed FINRA Arbitration No. 24-01591 about Patrick Hobert. The client alleged that Hobert made unsuitable recommendations of investments and breached his fiduciary duty. Because of this, the client allegedly sustained damages on illiquid and risky corporate bonds and real estate securities. Therefore, the client requested $112,000 in compensation from Centaurus Financial Inc. or Hobert. Evidently, this arbitration is pending a resolution.

Centaurus Financial Inc. Investor Accused Patrick Hobert of Breaching His Fiduciary Duty

Specifically, on June 5, 2024, a Centaurus Financial Inc. client filed FINRA Arbitration No. 24-01173 about Patrick Hobert. Supposedly, Hobert recommended illiquid and risky investments and breached his fiduciary duty. Because of this, the client allegedly sustained damages on real estate securities. Therefore, the client requested $100,000 in compensation from Centaurus Financial Inc. or Hobert. Evidently, this arbitration is unresolved.

Hobert Disclosed Poor Recommendation Allegations By Centaurus Financial Inc. Client

Also, a client of Centaurus Financial Inc. contested Patrick Hobert’s sales practices, according to a complaint dated January 8, 2024. Allegedly, Hobert gave a poor recommendation. It appears that Hobert allegedly caused the client to sustain damages on corporate bonds. Therefore, the client sought damages from Centaurus Financial Inc. or Hobert in the amount of $100,000 in this matter. However, this dispute closed without a resolution.

Centaurus Financial Inc. Investor Accused Patrick Hobert of Unsuitable Recommendations

Evidently, a Centaurus Financial Inc. client filed FINRA Arbitration No. 23-03450 about Patrick R. Hobert. Supposedly, Hobert made unsuitable recommendations in an illiquid alternative investment. Because of this, the client allegedly sustained damages. Therefore, on December 27, 2024, Centaurus Financial Inc. settled this matter by paying the client $14,000 in damages.

Hobert Disclosed Breach of Fiduciary Duty Allegations by Centaurus Financial Inc. Client

Specifically, a client of Centaurus Financial Inc. contested Patrick Hobert’s sales practices by filing FINRA Arbitration No. 23-02484. Allegedly, Hobert made unsuitable recommendations and breached his fiduciary duty by recommending corporate bonds. Therefore, Centaurus Financial Inc. opted to settle the matter on January 8, 2024, by compensating the client in the amount of $10,000.

Centaurus Financial Inc. Investor Accused Patrick Hobert of Misrepresentation

Also, a Centaurus Financial Inc. client filed FINRA Arbitration No. 23-01747 about Patrick Hobert. Supposedly, Hobert made misrepresentations of material fact regarding an illiquid corporate bond in December 2019 and July 2020. Because of this, the client allegedly sustained damages. Therefore, on January 8, 2024, Centaurus Financial Inc. settled this matter by paying the client $50,500 in damages.

Did You Make Investments Through Securities Broker Hobert?

Seeking more information about Patrick Hobert? If you incurred losses, contact Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer concerning a potential recovery. Soreide Law Group has recovered losses for investors throughout the United States, represents clients on a contingency fee basis, and advances all costs. Hobert and brokerage firm Centaurus Financial Inc. deny any allegations of sales practice violations.