Sean Zhang Barred, Involved In Cetera Investor Disputes

Soreide Law Group shares important information below concerning securities broker Xiangyu Yu Zhang, who is also known as Sean Zhang (CRD#: 5050282, Alhambra, California). Namely, Financial Industry Regulatory Authority (FINRA) BrokerCheck shows that Zhang has 14 disclosures, and 10 of them concern investment disputes relating to suitability. In addition, FINRA sanctioned Zhang twice, including barring him as a securities broker. Here’s more on those disclosures and how an investment loss recovery lawyer could help you if your broker committed sales practice violations.

Sean Zhang’s Cetera Investment Services Client Alleges Unsuitable Recommendations

Evidently, a client of Cetera Investment Services complained about Sean Zhang’s sales practices. In the April 2022 FINRA Arbitration Claim (Los Vegas, Nevada), the investor alleges unsuitable recommendations that resulted in losses. It appears that the client invested in underperforming real estate investment trust (REIT) and municipal debt products. For this reason, the client asked for $50,000 to $99,999 in damages to resolve this matter.

Zhang Purportedly Gives Unsuitable Advice To Client Of Cetera Investment Services

Also, a Cetera Investment Services client brought Sean Zhang up in a FINRA Arbitration Claim in November 2021 (Los Angeles, California). Apparently, Zhang unreasonably advised the client on a real estate security. It appears that the client sustained damages because of following Zhang’s recommendations. For this reason, the client asks for compensatory damages in this ongoing matter.

Cetera Broker Allegedly Misled Client Regarding Real Estate Security

Moreover, a client of Cetera Investment Services brought an investment complaint in June 2021 about Sean Zhang. Supposedly, the broker misled them about investment risks. They invested in a real estate security prior to the issuer filing for bankruptcy. However, Cetera Investment Services denied the client’s allegations and request for compensation.

FINRA Bars Sean Zhang Indefinitely Following A Request For Information

Evidently, FINRA, who regulates most major securities firms in the United States, prohibited Sean Zhang from being a securities broker with any FINRA-member firms. Supposedly, Zhang failed to respond to a FINRA request for information. Because of this, FINRA suspended him in 2019. After a three-month suspension, FINRA barred him.

Notably, three investor disputes alleging misrepresentation are disclosed on BrokerCheck, and those disclosures precede FINRA’s request for information. Also preceding FINRA’s inquiry was Wells Fargo’s discharge of Zhang as a securities broker in December 2018 for allegedly violating policy and Zhang’s voluntary resignation from Merrill Lynch in April 2010 for allegedly making unsuitable recommendations to investors.

Did You Experience Damages Because Of Securities Broker Zhang?

Did you realize damages because of Sean Zhang or the securities broker-dealers he has associated with? You can contact Soreide Law Group at (888) 760-6552 to speak with a helpful securities attorney about possibly recovering your losses. Soreide Law Group represents investor clients on a contingency fee basis and advances all costs. The firm has recovered compensation for many investors who have incurred damages from securities brokers and financial advisors. Please note that Zhang denies all accusations of inappropriate sales practices.