Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Philip Chao (Chao), currently associated with Cetera Wealth Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Chao recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint on January 26, 2024.
Claimants alleged that the Representative recommended multiple Real Estate Investment Trust products that were unsuitable, and resulted in a substantial loss. Claimants further alleged that the Representative misrepresented the risks and potential for future income and growth.