Securities Lawyers Blog
According to BrokerCheck records financial advisor Peter Bakalis (Bakalis), currently employed by D.H. Hill Securities, LLLP (DH Hill Securities) has been subject to at least two customer complaints, one employment termination for cause, and one regulatory investigation. According to records kept by The Financial Industry Regulatory Authority (FINRA), Bakalis’ customer complaints allege that Bakalis failed to disclose a non-traded REIT merger and forged client signatures on paperwork.
In October 2018 Bakalis was terminated by his then employer Sigma Financial Corporation when the firm claimed that it has reason to believe that the representative forged, or instructed/caused others to forge, client signatures on account opening and account transfer paperwork.
Thereafter, in December 2018 the State of Michigan Department of Insurance and Financial Services opened an investigation claiming to have received a complaint on the appropriateness of annuity surrender/transfer for 3 different clients.