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Investors Allege Yvonne Zhong Recommended Unsuitable GWG L Bonds

Aug 12, 2022 Unsuitable Investments

Yvonne Zhong (CRD #: 3203120), a broker registered with Ni Advisors, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on July 29, 2022. Keep reading to learn more about her conduct as a broker.

Pending Dispute

On June 7, 2022, investors alleged that Yvonne Zhong breached her contract and provided unsuitable recommendations of GWG L bonds, as well as alleging failure to supervise. The clients allege that they bought $900,000 of GWG L bonds from Yvonne Zhong from 2019-2021. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers recommend investments that sufficiently match an investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their risk tolerance, tax status, and age when making recommendations.

Investors who believe they have lost money due to unsuitable investment recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 3110

FINRA Rule 3110 requires first to establish systems of supervision to ensure their compliance with securities regulations. Firms must appoint appropriately trained or experienced supervisors to monitor their brokers’ activities.

Background Information

Yvonne Zhong has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 27 – Financial and Operations Principal Examination
  • Series 4 – Registered Options Principal Examination
  • Series 24 – General Securities Principal Examination

Yvonne Zhong is a registered broker in California.

She has also worked for the following firms:

  • LPL Financial (CRD#:6413)
  • Cetera Investment Services (CRD#:15340)
  • AXA Advisors (CRD#:6627)
  • Ni Advisors (CRD#:134502)
  • UCB Investment Services (CRD#:125574)
  • Supertrade Securities (CRD#:46960)
  • Golden Stream Securities (CRD#:35221)
  • Youngblood Securities Corporation (CRD#:21697)

Kurta Law Can Help

If you worked with Yvonne Zhong 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.