• May 13, 2023
• Unsuitable

Christopher Hartman is a previously registered Broker and previously registered Investment Adviser.

Broker’s Background

He entered the securities industry in 1988 and previously worked for Kovack Securities, Inc.; TKG Financial, LLC; Morgan Stanley Smith Barney; Citigroup Global Markets, Inc.; Lehman Brothers, Inc.; Smith Barney, Harris Upham & Co., Inc.; and Talley, McNeil & Co., Inc.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in February 2023, a customer dispute was filed against Christopher Hartman. The allegation states, “Claimants allege that they were recommended unsuitable REITs.” The customer dispute is pending.

In addition, Christopher Hartman has been the subject of four customer complaints, including two that remain pending, including the following:

• December 2022 — “Client alleges unsuitability, failure to supervise and inadequate due diligence regarding the sale of a private placement.” The customer dispute is pending. Damages of $500,000 are requested.
• October 2022 — “Claimant alleges that she was sold an unsuitable investment and that KSI did not conduct thorough due diligence and supervision of the sale.” The customer dispute is pending.
• July 2009 — “THE CLIENT ALLEGED UNSUITABILITY WITH RESPECT TO INVESTMENTS – 6/1/2008-6/9/2009.” The customer dispute was denied.
• June 2005 — “CLIENT’S ATTORNEY ALLEGED INVESTMENTS WERE UNSUITABLE – MARCH 2000-JULY 2000.” The customer dispute was settled for $8,500.

For a copy of Christopher Hartman’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

A real estate investment trust (REIT) is a security that invests in real estate directly either through properties or mortgages. Generally, REITs can be publicly or privately held. Publicly held REITs can be sold on an exchange and publicly traded. Non-traded REITs are sold through broker-dealers and are private. REITs are generally classified as equity, mortgage or hybrid.

REITs have traditionally been sold to customers for their high dividend yield. However, many factors impact the ability of the REIT to maintain dividend and share price stability, including the fluctuation in interest rates, the amount and cost of leverage used by the REIT and collectability of the rents or mortgage payments that comprise the underlying assets within the REIT.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the financial advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.