Articles Tagged with blank forms

Kevin Fretz
Kevin Fretz (CRD#: 4128808), a former registered representative with LPL Financial LLC (CRD#: 6413), was terminated from his job on September 12, 2019. According to his BrokerCheck report accessed on October 28, 2019, “Representative maintained blank customer signed forms, failed to report customer complaints and failed to follow customer instructions to deposit funds to investments.” This is not the only disclosure on Kevin Fretz’s BrokerCheck report. On August 27, 2019, a customer alleged that Kevin Fretz engaged in forgery and misrepresented investment recommendations.

Why would a broker keep forms pre-signed by customers? While brokers might ask clients to pre-sign sign forms as a “matter of convenience,” clients should never agree to this because unscrupulous brokers can take advantage of the situation. Blank forms pre-signed by clients can end up as “blank checks” for brokers to facilitate whatever transactions they want, regardless of your best interests. If you later dispute a transaction, your stamp of approval will be on the form, making an unwanted transaction that much harder to contest.

Over his 19-year career in the securities industry, he has worked for six firms, three of which have had their registration status terminated by the SEC: