Haselkorn & Thibaut has launched an investigation into Stephen Hlibok, an experienced Merrill Lynch financial advisor based in Columbia, Maryland. With a career extending more than 38 years, Mr. Hlibok’s professional background and record are under review due to recent investor concerns. If you have questions about your accounts or investments handled by Stephen Hlibok, we encourage you to seek a free, confidential consultation from our legal team – there is no obligation and no fee unless we recover losses for you. Call 1-888-994-8066 for immediate assistance.
Who is Stephen Hlibok of Merrill Lynch in Columbia, MD?
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Stephen Hlibok (CRD#: 1728900) is a registered broker and investment advisor at Merrill Lynch, a brokerage giant. Stationed in Columbia, Maryland, Mr. Hlibok has been with Merrill Lynch since 1987 and holds licenses in 37 states, which means he serves clients throughout the country. Over his long career, he has successfully passed key industry exams, including the Securities Industry Essentials (SIE), Series 7, Series 63, and Series 65.
Understanding Stephen Hlibok’s Complaint History
It’s crucial for investors to be informed about complaints or legal actions involving their financial advisors. Here’s a detailed summary of the known complaint record, including allegations, amounts claimed, and their resolution status.
| Date Filed | Nature of Allegation | Product/Issue | Status | Amount Alleged | Advisor Statement |
|---|---|---|---|---|---|
| September 2025 | Unauthorized trading | Over-the-counter stock products | Pending | $337,668.75 | N/A |
| 2003 | Unsuitable investment recommendations | Over-the-counter stock products | Denied by Firm | $592,000 | Advisor asserted client purchased elsewhere, limited involvement at Merrill Lynch, firm denied complaint. |
What does this mean for you as an investor? Even with only two formal complaints disclosed in a decades-long career, detailed review is essential if you suspect issues with your investments. Both cases involve over-the-counter stock products—a type of investment that can be riskier and less liquid than exchange-listed securities. For the most recent case, a substantial amount of damages has been alleged, and the complaint remains unresolved as of November 2025. The earlier complaint, while denied by the firm, also involved claims over half a million dollars.
Regulatory and Litigation Background: Are There Other Red Flags?
- No record of civil judgements, arbitrations, or client-initiated regulatory complaints reported in FINRA BrokerCheck
- No SEC enforcement actions or orders
- No public record of federal or state lawsuits involving Stephen Hlibok as a defendant in securities-related litigation
- No press coverage in reputable business media about regulatory or legal issues involving Mr. Hlibok
- No recorded disciplinary action via Merrill Lynch’s filings or the SEC’s Form U4/U5 records
This means there is currently no regulatory history of suspensions, fines, or formal investigations against Mr. Hlibok. His official record, as viewed on publicly available databases, is clean apart from the two investor complaints outlined above.
Why Investors Should Pay Close Attention
Despite the lack of disciplinary actions, the presence of multiple investor complaints, some for significant alleged damages, can be a signal for investors to review their accounts and correspondence. Unauthorized trading and unsuitable recommendations are serious matters, especially when dealing with complex or illiquid investments.
- If you received investment advice or had trades executed in your account that you did not authorize, you may have grounds to recover losses.
- If you feel you were not told of the risks, or were recommended products inappropriate for your goals or risk tolerance, you should seek advice.
- Changes in your account not fully explained to you should always be questioned – even if your losses are not yet realized.
What Can You Do? Next Steps for Investors
Haselkorn & Thibaut is reviewing investor accounts managed by Stephen Hlibok at Merrill Lynch. Our national team of investment fraud lawyers leverages over 50 years of experience, a 98% success rate, and has recovered millions for clients nationwide. Remember, our firm works on a no recovery, no fee basis. Your initial consultation is always free and confidential.
- Concerned about unauthorized trades or inappropriate investment recommendations?
- Unsure about transactions in your Merrill Lynch account with Stephen Hlibok?
- Have you experienced unexpected investment losses?
Don’t wait for market conditions to worsen or further losses to occur. You are entitled to a thorough review and strong advocacy on your behalf. Call Haselkorn & Thibaut today at 1-888-994-8066 to speak with an attorney who understands these issues and can walk you through your options.
Check Your Advisor’s Record
For the most up-to-date background on Stephen Hlibok (CRD 1728900), you can visit the FINRA BrokerCheck website.
Haselkorn & Thibaut is standing by to help you get answers, explore your options, and pursue any recovery you may be owed.
Call 1-888-994-8066 for your free and confidential consultation today.
