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Celia Zhang Involved in Disputes Alleging Unsuitable Recommendations

Apr 22, 2022 Unsuitable Investments

Celia Zhang (CRD #: 5918387), a broker registered with Independent Financial Group, is involved in two pending investor disputes, according to her BrokerCheck record, accessed on April 15, 2022. If you want to learn more about Celia Zhang’s conduct as a broker, keep reading.

Allegations of Unsuitable Investment Recommendations

Celia Zhang is the subject of two pending disputes filed in 2021 and 2022 which allege she gave investors unsuitable investment recommendations resulting in unspecified losses.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor's profile. An investor's profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

  •   Investments can be unsuitable because they are high risk and likely to lose money.
  •   Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  •   Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  •   These requirements apply to the overall investment strategy. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.

Background Information

Celia Zhang has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

Celia Zhang is a registered broker in Massachusetts and California, as well as a registered investment adviser in California.

She has also worked for the following firms:

  • Cetera Investment Advisers (CRD#:105644)
  • Cetera Investment Services (CRD#:15340)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Celia Zhang and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.