Haselkorn & Thibaut has opened an investigation into Raleigh, North Carolina financial advisor Hoss Esmaeili following recent investor complaints and regulatory concerns. If you’ve experienced investment losses or unauthorized trading activity with Mr. Esmaeili or Avantax Investment Services, understanding your rights and options is crucial for protecting your financial future.
Understanding the Recent Investor Complaint Against Hoss Esmaeili
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Financial advisor Hoss Esmaeili (CRD# 5581440) currently faces serious allegations from an investor regarding unauthorized trading activities. The complaint, filed in June 2025, alleges that while representing Cambridge Investment Research, Mr. Esmaeili made an unauthorized sale and funds transfer resulting in alleged damages of $439,114.
This substantial claim raises important questions about account supervision and trading authorization procedures. When financial advisors execute trades without proper client authorization, it represents a fundamental breach of trust and professional responsibility.
Additional Legal Challenges: The Wells Fargo Arbitration
Beyond the investor complaint, Mr. Esmaeili faces additional legal challenges. According to recent reports, he is currently attempting to overturn an arbitration award of more than $397,500 issued against him. This award relates to his departure from Wells Fargo in December 2019 and involves two promissory notes.
The circumstances surrounding his departure from Wells Fargo add another layer of complexity. Mr. Esmaeili reportedly claims he had no choice but to leave the firm due to concerns about how they handled an elderly client’s account. This situation highlights potential red flags regarding client account management practices.
Professional Background and Current Registration
Understanding your financial advisor’s background helps you make informed decisions about your investments. Here’s what investors should know about Hoss Esmaeili’s professional history:
| Years of Experience | 16 years in securities industry |
| Current Registration | Avantax Investment Services (Broker) Avantax Advisory Services (Advisor) |
| Business Name | Clever Financial Services |
| Location | Raleigh, North Carolina |
| Licenses Held | Series 66, SIE, Series 7 |
Employment History: A Pattern Worth Noting
Mr. Esmaeili’s employment history reveals multiple firm changes over his career:
- Current: Avantax Investment Services / Avantax Advisory Services (since 2023)
- Previous firms include: Cambridge Investment Research, Lincoln Financial Securities, Wells Fargo Clearing Services, PNC Investments, and Edward Jones
While changing firms isn’t necessarily problematic, investors should be aware when their advisor has moved between multiple brokerage firms, especially when departures involve disputes or legal issues.
Red Flags for Investors to Consider
Several concerning factors emerge from the available information:
1. Unauthorized Trading Allegations: The pending complaint alleging unauthorized sales and transfers represents a serious breach of fiduciary duty if proven true. Advisors must always obtain proper authorization before executing trades.
2. Substantial Financial Disputes: Between the investor complaint seeking $439,114 and the Wells Fargo arbitration award of $397,500, the total amount in dispute exceeds $836,000.
3. Questions About Client Account Management: The reported concerns about elderly client account handling at Wells Fargo raise questions about proper client care standards.
4. Multiple Firm Transitions: The pattern of moving between firms, particularly when accompanied by disputes, warrants careful consideration.
What This Means for Current and Former Clients
If you’ve worked with Hoss Esmaeili or Avantax Investment Services, consider taking these steps:
Review Your Account Statements: Look carefully for any transactions you didn’t authorize or don’t understand. Pay special attention to sales, transfers, or changes in investment strategy.
Document Everything: Keep all correspondence, account statements, and notes from meetings. This documentation becomes crucial if you need to pursue recovery of losses.
Understand Your Rights: Investors have specific rights under FINRA rules and securities laws. You may be entitled to recover losses resulting from unauthorized trading, negligence, or other misconduct.
The Importance of Acting Quickly
Time limits apply to filing claims against financial advisors and brokerage firms. The statute of limitations for securities claims typically ranges from one to six years, depending on the type of claim and jurisdiction. Waiting too long could mean losing your right to recover losses.
Additionally, evidence can disappear, memories fade, and witnesses become unavailable over time. Taking prompt action helps preserve your ability to build a strong case.
How Haselkorn & Thibaut Can Help
With over 50 years of experience in securities law, Haselkorn & Thibaut has achieved a 98% success rate and recovered millions for investors nationwide. Our team understands the complexities of unauthorized trading claims and disputes involving financial advisors.
We work on a contingency basis, meaning no recovery, no fee. This ensures that every investor has access to experienced legal representation regardless of their financial situation.
Our investigation into Hoss Esmaeili and Avantax Investment Services continues as we gather information to help affected investors understand their options. If you’ve experienced losses or have concerns about unauthorized trading, we’re here to help you navigate the recovery process.
Take Action to Protect Your Financial Future
Don’t wait to address concerns about your investments or potential unauthorized trading. The sooner you understand your situation and options, the better positioned you’ll be to protect your financial interests.
Contact Haselkorn & Thibaut today at 1-888-885-7162 for a free, confidential consultation. Our experienced securities attorneys can review your situation, explain your rights, and help you determine the best path forward. Visit investmentfraudlawyers.com to learn more about how we’ve helped investors across the country recover their losses.
Remember, you’ve worked hard for your investments. If someone has violated your trust or acted without authorization, you deserve answers and potentially compensation. Call 1-888-885-7162 now to speak with our team about your Hoss Esmaeili or Avantax Investment Services concerns.
