Investors might have sustained losses due to securities broker Phillip Chien-Cheng Kao [CRD: 4654233, San Rafael, California], according to disclosures on FINRA BrokerCheck. Evidently, Kao worked for Portsmouth Financial Services from August 2, 2021, to December 31, 2024, and Woodbury Financial Services Inc. from September 4, 2015, to August 4, 2021. He is currently registered with Arete Wealth Management LLC. Keep reading to learn more about the disclosures concerning Kao.
Specifically, on February 8, 2024, an LPL Financial LLC client filed FINRA Arbitration No. 24-00296 about Phillip Kao. The client alleged that Kao made unsuitable recommendations regarding real estate securities. Because of this, the client allegedly sustained damages. Therefore, the client requested compensation from LPL Financial or Kao. Evidently, this arbitration is pending a resolution.
Also, a client of LPL Financial contested Kao’s sales practices, according to a complaint dated September 19, 2016. Allegedly, Kao failed to manage the client’s account, overconcentrated it in stocks, and did not inform the client of his departure from the firm. It appears that Kao allegedly caused the client to sustain damages. Therefore, the client sought damages from LPL Financial or Kao. The complaint was denied on September 30, 2016.
Seeking more information about Phillip Kao? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Kao and brokerage firms Kao worked for deny any accusations of sales practice violations.
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