FINRA barred Amerprise Financial Services broker Arthur Stewart Hoffman of Ameriprise's Glendale and Prescott, Arizona branches after a prior customer dispute concerning leveraged ETFs and investigation into a subsequent suspension related to outside business activities and private securities transactions.
FINRA issued Hoffman a permanent bar in AWC #2020066342101 for failing to cooperate with its investigation into his April 2020 suspension from Ameriprise for outside business activity and private securities transaction policy violations.
Prior to joining Amerprise in late 2016, Arthur Hoffman (CRD #3193754) settled a customer dispute brought by a client at prior firm Wedbush Securities (Glendale, AZ) that accused Hoffman and Wedbush of common law fraud, breach of fiduciary duty, fraudulent concealment, negligent misrepresentation, and negligent supervision related to an investment in leveraged exchange-traded funds (ETFs).
That 2016 customer complaint alleging fraud evolved into arbitration and finally settled in October of 2018 for $329,500.
Hoffman's BrokerCheck file also lists as other business activities real estate ownership in Peoria, AZ and a business called ICA Financial Services, LLC, of Maricopa County, where Hoffman serves as CEO and Owner.
If you have invested with former Wedbush Securities and Ameriprise Financial Services broker Arthur Stewart Hoffman in the greater Phoenix-Mesa, Arizona area, or with any financial adviser whose inappropriate outside business activities, private securities transactions/selling away from the firm, or other fraudulent conduct has proven harmful to your investments or interests, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.