BrokerCheck Reports Disputes About George Nikolakakos For Advice

Soreide Law Group is investigating the advancement of certain lawsuits against securities broker George Nikolakakos (CRD#: 2907561, Omaha, Nebraska). Critically, five investors brought disputes which suggest that the broker caused their investment losses. Here’s what we know so far.

Four Points Client Indicates George Nikolakakos Provided Unsuitable Recommendations

Evidently, a client of Four Points filed a July 2020 lawsuit over George Nikolakakos’s sales of stocks. Allegedly, Nikolakakos made unsuitable recommendations to the client from 2014 to 2017. In addition, the broker supposedly concentrated the client’s assets in risky investments and charged unreasonable commissions. For this reason, the client demands more than $543,000 in compensation in this ongoing matter.

Nikolakakos Supposedly Mismanages Four Points Client’s Account

Apparently, a second Four Points client came forward to challenge George Nikolakakos’s actions. Namely, the client contended that the broker mismanaged the client’s investment account from 2001 to 2017. This could mean that Nikolakakos traded investments that were unsuitable and which caused the client to sustain investment losses. For the alleged account mismanagement, the client asked for more than $107,000 in damages. As of November 13, 2020, this matter is ongoing.

Four Points Client Indicates George Nikolakakos Violated Securities Laws

Also, a client of Four Points contested Nikolakakos’s sales practices through a FINRA Arbitration Claim in August 2018. Allegedly, the broker or Four Points violated not only FINRA rules but also state and federal securities laws. It appears that Nikolakakos caused the client to invest in stocks that were unprofitable and which were not appropriate. Because of this, Four Points opted to settle this matter through making a $87,500 payment to the client in May 2019.

Past Disputes About George Nikolakakos

FINRA BrokerCheck shows that other clients disputed George Nikolakakos’s actions. In those disputes, clients alleged that Nikolakakos did not follow instructions and that he made unauthorized trades. Both of those disputes were terminated without further action by investors.

George Nikolakakos’s past employers include TD Ameritrade (2018), Scottrade (2017 to 2018), Four Points (2011 to 2017) and Wedbush Securities (2007 to 2011). Nikolakakos is not presently registered with a securities firm.

Did Nikolakakos Sell You Inappropriate Investments?Lars Soreide AVVO 2020 Top Lawyer

Did you purchase bad investments through George Nikolakakos? If so, get in touch with Soreide Law Group at (888) 760-6552 where you can speak with experienced lawyers about a possible recovery. Keep in mind that Soreide Law Group represents clients on a contingency fee basis and advances all costs. We have recovered millions of dollars for investors who have suffered losses from the misconduct of financial advisors and securities brokers. Nikolakakos denies all allegations of any sales practice violations.