A disciplinary proceeding released by the Financial Industry Regulatory Authority (FINRA) Department of Enforcement alleges that broker-dealer firm Reid &...
Read MoreWilliam Hobby: Complaints Against Atlanta Financial Advisor
Settled and pending investor complaints against former Atlanta, Georgia broker and investment advisor William Hobby (CRD#: 2240076) allege conduct including improper account management, unsuitable investment recommendations, and more. Hobby is a former representative of UBS Financial Services, according to information drawn from Financial Industry Regulatory Authority records.
A pending 2019 complaint alleges that as a representative of UBS Financial Services, William Hobby misrepresented material facts, recommended unsuitable investments, changed the customer’s risk tolerance without permission, and exercised unauthorized discretion in the customer’s account. The complaint alleges damages of $788,512.
A 2018 complaint alleged that as a representative of UBS Financial Services, William Hobby recommended unsuitable investments. The complaint reached a settlement of $24,000.
A 2018 complaint alleged that as a representative of UBS Financial Services, he recommended unsuitable investments and changed her risk profile without her permission. The complaint reached a settlement of $80,000.
A 2018 complaint alleged that as a representative of UBS Financial Services, he recommended unsuitable and risky investments, over-concentrated the account, engaged in excessive trading, and exercised unauthorized discretion. The complaint reached a settlement of $350,000.
A 2002 complaint alleged that as a representative of Salomon Smith Barney, he improperly handled the account. The complaint reached a settlement in 2005 of $120,000.
A 2002 complaint alleged that as a representative of Salomon Smith Barney, he improperly handled the account between 1998 and 2001. The complaint reached a settlement of $155,000.
William Hobby is currently not registered as a broker or investment advisor. His employment history includes UBS Financial Services in Atlanta, Georgia; Morgan Stanley Smith Barney in Alpharetta, Georgia; Morgan Stanley & Company in Alpharetta, Georgia; Citigroup Global Markets in Alpharetta, Georgia; and Chatfield Dean & Company in Greenwood Village, Colorado. He currently holds zero state licenses and has passed four securities industry qualification examinations.
