Haselkorn & Thibaut Opens Investigation into Hugh O. “Hobby” Barndollar, III – Former Crown Capital Securities and Purepath Wealth Management Advisor in Land O’Lakes, FL
If you are an investor who worked with Hugh O. Barndollar, III—also known as “Hobby Barndollar”—in Land O’Lakes, Florida, learning all the facts is critical. Haselkorn & Thibaut, a nationally recognized securities fraud law firm, has opened an investigation into Hobby Barndollar’s conduct while affiliated with Crown Capital Securities, Newport Coast Securities, and Purepath Wealth Management. With over 50 years of combined experience, a 98% success rate, and millions recovered for investors, Haselkorn & Thibaut encourages investors who suffered losses to reach out for a free consultation at 1-888-994-8066.
Who is Hugh O. “Hobby” Barndollar, III?
Hobby Barndollar (CRD 3027317) is a former financial advisor and investment professional whose practice included work as a broker and registered investment adviser. His most recent employment was with Purepath Wealth Management (operating under names like Barndollar Advisory Services) in Land O’Lakes, FL. He was previously associated with Crown Capital Securities and Newport Coast Securities. As of late 2025, Barndollar is not registered with any member firm of FINRA.
Summary Table
| Field | Value |
|---|---|
| Advisor Name | Hugh O. Barndollar, III (“Hobby Barndollar”) |
| CRD Number | 3027317 |
| Broker-Dealer | Crown Capital Securities (also Newport Coast Securities) |
| Registered Investment Adviser | Purepath Wealth Management |
| Primary Location | Land O’Lakes, FL |
| Current Registration | Not registered with a FINRA member firm |
Red Flags and Regulatory Sanctions
FINRA and state regulators have filed and resolved several actions involving Hobby Barndollar, with some very important findings for investors. Among the significant regulatory events:
- Suspension by FINRA (December 2022 – December 2024): Barndollar was suspended for 24 months and fined $10,000 for participating in unauthorized private securities transactions commonly known as “selling away.” The total involved exceeded $1.4 million. He also falsely certified on compliance documents that he was not engaged in these outside transactions.
- State of Florida Action (February 2025): The Florida Office of Financial Regulation sought to revoke or suspend Barndollar’s license and impose penalties for failing to timely report customer complaints and a settlement, among other alleged violations.
- FINRA Censure (January 2023): Fined $7,500 and censured over complaints of not cooperating timely with an examination inquiry.
- State of California Letter of Censure (March 2021): Related to a customer complaint about late-traded mutual fund orders.
Investor Complaints: Full List and Case Details
A closer look at the investor complaints and settlements is informative for anyone seeking to understand the scope of the issues associated with Hobby Barndollar’s tenure:
- Nine Customer Disputes Total: Barndollar’s regulatory history reflects at least nine customer disputes.
- Largest Individual Settlements:
- Crown Capital client paid $160,000 to settle claims regarding Barndollar’s recommendation of alternative investments, including non-traded REITs, that underperformed.
- Crown Capital Securities paid $82,500 for allegations of unsuitable alternative investment and variable annuity recommendations.
- Pending FINRA Arbitrations: Three additional customers have pending arbitrations alleging inappropriate recommendations of illiquid and high-risk products like non-publicly traded REITs and certain annuities.
- FINRA Arbitration #20-02345 (October 2021):
- Allegations: Unauthorized trading, unsuitable options recommendations, failure to follow explicit instructions
- Status: Settled for $50,000 (no admission of wrongdoing)
- FINRA Arbitration #21-01890 (April 2022):
- Allegations: Misrepresentation of performance, over-concentration in thinly traded securities
- Status: Dismissed by arbitrators (insufficient evidence)
Alleged Violations and Investor Harm
The nature of the alleged wrongdoing by Hobby Barndollar includes:
- Unsuitable recommendations to invest in high-risk and illiquid alternative products, such as oil and gas partnerships and non-traded real estate investments.
- Inadequate due diligence before making product recommendations.
- Failure to disclose material facts or risks relating to complex products like variable annuities and certain alternatives.
- Selling away – recommending unauthorized investments outside the supervision of his registered firm.
Many of these issues can result in investor losses, particularly when alternative investments carry greater risks, higher fees, and less liquidity compared to traditional investments.
Why Do These Issues Matter?
Brokerage firms have an obligation under FINRA suitability rules to ensure that any investment recommended is suitable for the customer based on the customer’s own objectives, risk tolerance, and financial situation. They must also supervise their representatives to make sure that investment recommendations, sales practices, and compliance with firm and regulatory rules are upheld. A failure at either the individual or firm level may open the door to recovery by harmed investors.
What Should You Do If You Suffered Losses?
If you invested with Hugh “Hobby” Barndollar in Land O’Lakes, FL—particularly through Crown Capital Securities, Newport Coast Securities, or Purepath Wealth Management—and lost money in alternative investments, variable annuities, or other unsuitable products, you may have legal options.
With a 98% success rate and a nationwide practice, Haselkorn & Thibaut (investmentfraudlawyers.com) welcomes the opportunity to review your circumstances. There is no cost or obligation for an initial conversation, and there are no fees unless you obtain a recovery.
- Call for a Free Case Review: 1-888-994-8066
- See Your Advisor’s Regulatory Record: Hobby Barndollar BrokerCheck
Take Action – Protect Your Financial Future
Even one unsuitable recommendation or omitted disclosure can change an investor’s retirement or savings outlook. Haselkorn & Thibaut’s team offers a careful, empathetic, and experienced review of your case—with the goal of helping you move forward from losses suffered at the hands of a broker or advisor. If you believe your account was mismanaged, reach out today for guidance and answers. Call anytime at 1-888-994-8066.
About Haselkorn & Thibaut
Haselkorn & Thibaut is a national law firm focused exclusively on representing investors. With decades of experience, the firm has recovered millions for clients across the country through negotiations, mediation, and FINRA arbitration. If you have any questions about your financial advisor, their background, or how your investments were handled, don’t wait—call for a free consultation today.
