Stevan Hoffman: Oil & Gas Complaint Against Cambridge Advisor

Danville, California financial advisor Stevan Hoffman (CRD# 4552883) allegedly recommended an unsuitable investment, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is currently registered as a broker and an investment advisor with Cambridge Investment Research.

Mr. Hoffman’s BrokerCheck report discloses one investor complaint. Filed in Filed in February 2024, it alleges that as a representative of Cambridge Investment Research, he recommended an oil and gas investment “for the purpose of generating high commissions and fees,” depriving the customers of their “ability to generate reasonable returns that would have been received in a diversified portfolio.” The pending complaint alleges unspecified damages.

Failure to diversify, also known as over-concentration or concentration, describes a financial advisor’s failure to invest a customer’s portfolio among a variety of assets. “A diversified portfolio,” FINRA explains, “tends to be harder to achieve than simply following the mantra: don’t put all your investment eggs in one basket.” To mitigate the risks of a concentrated portfolio, FINRA recommends that investors diversify their accounts across and within major asset classes, rebalance their accounts on a routine basis, and monitor their investments’ liquidity.

According to the Financial Industry Regulatory Authority, Stevan Hoffman holds 21 years of securities industry experience. Based in Danville, California, he has been a broker and an investment advisor with Cambridge Investment Research since 2014. His past registrations include MetLife Securities (Walnut Creek, California; 2010-2014), Lincoln Financial Advsors (San Mateo, California; 2002-2010), and the Lincoln National Life Insurance Company (Fort Wayne, Indiana; 2002-2006). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Nevada, and Oregon. (Information current as of March 24, 2024.)

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