Many advisors and their bosses like to brag about how much money theyve made for their firm. Mark Hotton isnt one of them. The now-barred advisor has cost Oppenheimer nearly $10 million in fines and arbitration settlements, despite being employed by the firm for just four years.
The latest hit came Thursday, when FINRA slapped Oppenheimer with a $2.5 million fine for failing to supervise Hotton during his time at the firm, and ordered the brokerage to pay an additional $1.25 million in restitution to 22 former clients of the advisor.
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