David Hoover: $976K Complaint Against Stifel Advisor

A recent investor complaint against San Francisco, California financial advisor David Hoover (CRD# 1722534) alleges that his conduct resulted in damages exceeding $900,000. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Stifel Nicolaus.

Mr. Hoover’s BrokerCheck report discloses several investor complaints. The most recent, filed in March 2026, alleges that as a representative of Stifel Nicolaus, he did not conduct adequate due diligence to determine the suitability of a life insurance policy. The pending complaint alleges damages of $976,763.

An earlier investor complaint, filed in 2009, alleged that as a representative of Nollenberger Capital Partners, he breached his fiduciary duty, acted negligently, and misrepresented and omitted material facts. The complaint reached a settlement of $195,000.

A third investor complaint, filed in 1999, alleged that as a First Security Van Kasper, he recommended unsuitable bond and conducted a number of trades that raised “questions” from the client. The complaint reached a settlement of $25,000.

According to the Financial Industry Regulatory Authority, David Hoover holds 38 years of securities industry experience. Based in San Francisco, California, he has been registered as a broker and an investment advisor with Stifel Nicolaus since 2014. His past registrations include Sterne Agee & Leach, Nollenberger Capital Partners, Wells Fargo Investments, Wells Fargo Van Kasper, and Merrill Lynch. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He holds 38 state licenses. (Information current as of April 16, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.