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.
Cowen and Company, LLC (CRD 7616), now part of TD Securities (USA) LLC, is a brokerage firm based in New York, New York. FINRA censured and fined the firm a total of $80,000, of which $40,000 is payable to FINRA, according to an AWC issued August 19, 2026.
Webull Financial LLC (CRD 289063) is a brokerage firm based in New York, New York. FINRA censured and fined the firm $115,000 after finding it maintained inaccurate books and records of options order origin codes, according to an AWC issued August 17, 2026.
Marc Miller (CRD 1133692) is a registered representative with Western International Securities. According to BrokerCheck, a customer filed a claim against him on March 3, 2025 that remains pending.
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