Jack Hoile Allegedly Purchased Unsuitable REIT

Jack Hoile (CRD #: 3235563), a broker registered with Wells Fargo Clearing Services, allegedly recommended an unsuitable real estate investment, according to his BrokerCheck record, accessed on January 5, 2025. Investors may have also engaged his services through Wells Fargo Advisors. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On December 17, 2024, an investor filed a dispute alleging that Jack Hoile purchased an unsuitable real estate investment trust (REIT). This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe characteristics such as age, risk tolerance, tax status, and overall financial situation.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

What are REITs?

Real estate investment trusts (REITs) allow investors to pool their funds together in a portfolio of real estate and earn returns without managing the properties themselves. However, the lack of liquidity associated with REITs may make them unsuitable for some investors.

Background Information

Jack Hoile has passed the following exams:

• General Securities Principal Examination – Series 24
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

Jack Hoile is a registered broker in 21 states and a registered investment adviser in North Carolina.

He has also worked for AXA Advisors (CRD#:6627) and The Equitable Life Assurance Society of the United States (CRD#:4039).

Kurta Law Can Help

If you worked with Jack Hoile and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.