Joey Hobbs: $235K Complaint Against Cetera, Ex-LPL Advisor

Dallas financial advisor Joey Hobbs (CRD# 5092184) recently received an investor complaint alleging his conduct resulted in six-figure losses. Financial Industry Regulatory Authority records show that he is a broker with Cetera Investment Services and an advisor with Cetera Investment Advisors, as well as the owner of Financial Vision Consulting.

Mr. Hobbs’ BrokerCheck report discloses one investor complaint. Filed in December 2023, it alleges that as a representative of LPL Financial, he failed to follow a customer’s instruction and bought a different product than the customer requested. The pending complaint, which involves a structured product investment, alleges damages of $235,000.

Investors should be aware of FINRA Rule 2010, which stipulates that brokers like Mr. Hobbs must “observe high standards of commercial honor and just and equitable principles of trade.” Many forms of unethical conduct, such as a failure to comply with a client’s directions, may be violations of FINRA Rule 2010, so long as it takes place “in the conduct of [the member’s] business.” Brokers who violate FINRA Rule 2010 may be liable in the event of losses.

According to the Financial Industry Regulatory Authority, Joey Hobbs holds 16 years of securities industry experience. Based in Dallas, Texas, he has been a broker with Cetera Investment Services since 2021 and an advisor with Cetera Investment Advisors since 2023. He is the owner of Financial Vision Consulting. His registration history includes LPL Financial (Oklahoma City, Oklahoma; 2019-2021), BOK Financial Securities (Oklahoma City, Oklahoma; 2015-2019), Cetera Investment Services (Oklahoma City, Oklahoma; 2013-2015), MML Investors Services (Moore, Oklahoma; 2009-2013), and Wachovia Securities (Deerfield Beach, Florida; 2006-2008). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arkansas, Florida, Kentucky, Oklahoma, and Texas. (Information current as of January 6, 2024.)

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