Sean Zhang: Investor Disputes Follow FINRA Bar

Sean Zhang (CRD #: 5050282), a barred broker formerly registered with Wells Fargo Clearing Services, is involved in new investor disputes, according to his BrokerCheck record, accessed on March 1, 2022. These disputes alleged unsuitable investments.

Sean Zhang has four recent disputes on his record. They were filed on the following dates: 

• November 18, 2021
• August 6, 2021
• July 1, 2021
• June 18, 2021

These disputes all alleged that Sean Zhang recommended unsuitable investments.

Unsuitable Investments

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains information about the following investor characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Regulatory Actions

Sean Zhang was barred on April 30, 2019. FINRA alleged that he failed to respond to requests for information.

Employment Separation

On December 19, 2018, Wells Fargo Clearing Services fired Sean Zhang following allegations that he had submitted altered documents.

Settled Investor Dispute

On September 10, 2019, an investor alleged that Sean Zhang had engaged in elder financial abuse and violated California securities law. The dispute settled for $445,000.

Background Information

Sean Zhang has passed the following exams:

• Series 65 Uniform Investment Adviser Law Examination
• Series 63 Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 General Securities Representative Examination

He has worked for the following firms:

• LPL Financial (CRD #: 6413)
• Cetera Investment Services (CRD #: 15340)
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
• Banc of America Investment Services (CRD #: 16361)
• CitiGroup Global Markets (CRD #: 7059)
• CitiGroup Investment Services (CRD #: 23988)
• WM Financial Services (CRD #: 599)

Kurta Law Can Help

If you have worked with Sean Zhang and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.