The Financial Industry Regulatory Authority Inc. has barred former Ameriprise broker Arthur Hoffman for failing to take part in an investigation looking into alleged outside business interests.
On April 17, Finra opened an investigation in response to a disclosure filed by Ameriprise four days earlier that said Hoffman had been suspended for company policy violations related to outside business activities and private securities transactions. He worked in Glendale, Ariz.
Hoffman began his career at Morgan Stanley in 1999 and joined Ameriprise in 2016 after six years at Merrill Lynch and seven years at Wedbush Securities.
The Cincinatti firm reportedly missed multiple signs that the errant advisor misappropriated $728k from clients to fund his gambling, pay personal expenses, and repay other investors.
“There was also cash moving off the sidelines,” one Merrill executive noted.
Wealth managers watch as Apple and NVDA battle it out for the title of the world's largest company.
The PE-backed wealth giant is welcoming the veteran with over 20 years of experience to help lead its next phase of growth.
Broadridge industry survey unpacks sentiments and gaps around active ETFs, alts, indexing solutions, and AI adoption.
Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.
Morningstar’s Joe Agostinelli highlights strategies for advisors to deepen client engagement and drive success
