Haselkorn & Thibaut, a national investment fraud law firm, has opened an investigation into former Cetera Investment Services broker Leo Li-Yuan Chien (CRD# 4169619) regarding potential investor complaints and regulatory concerns. If you invested with Mr. Chien during his tenure at Cetera or any of his previous firms, you may have important rights to recover losses.
Understanding Leo Chien’s Background and Career History
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Leo Li-Yuan Chien operated as a registered representative in Alhambra, California for over two decades before his registration ended in 2024. His most recent position was with Cetera Investment Services LLC, where he worked from 2012 to 2024. This twelve-year tenure at Cetera represents the longest period he spent with any single firm during his career.
Before joining Cetera, Mr. Chien held positions at several major financial institutions:
- HSBC Securities
- Citigroup Global Markets
- Linsco/Private Ledger Corp
As of July 2025, Leo Chien is no longer registered with any FINRA-member firm, which means he cannot currently conduct securities transactions or provide investment advice in a broker capacity.
Red Flags Investors Should Consider
When evaluating whether you may have been affected by potential misconduct, several warning signs deserve attention. The end of a broker’s registration, particularly after a long career, can sometimes coincide with regulatory actions or customer complaints. While not all registration terminations indicate wrongdoing, investors who worked with Mr. Chien should review their accounts carefully.
Common red flags that may indicate investment fraud or unsuitable recommendations include:
| Warning Sign | What to Look For |
|---|---|
| Excessive Trading | Frequent buying and selling that generates commissions but doesn’t benefit your portfolio |
| Concentrated Positions | Over-investment in single stocks or sectors without proper diversification |
| Unsuitable Investments | High-risk products that don’t match your stated investment objectives or risk tolerance |
| Unauthorized Trades | Transactions made without your knowledge or consent |
| Misrepresentations | False or misleading statements about investment risks or potential returns |
Why This Investigation Matters to Investors
If you invested with Leo Chien at Cetera Investment Services or any of his previous employers, you have the right to understand whether your investments were handled appropriately. Investment losses aren’t always simply due to market conditions. Sometimes they result from broker misconduct, negligence, or failure to follow industry rules designed to protect investors.
The securities industry operates under strict regulations that require brokers to:
- Know their customers and only recommend suitable investments
- Disclose all material facts about investments, including risks
- Avoid conflicts of interest or disclose them clearly
- Follow customer instructions and investment objectives
- Supervise all account activity properly
When these obligations aren’t met, investors may suffer unnecessary losses that could have been avoided with proper care and attention to their needs.
Steps You Can Take Right Now
Taking action promptly is crucial because FINRA arbitration claims must typically be filed within six years of the event giving rise to the claim. Here’s what you should do:
- Gather your account statements from the period you worked with Mr. Chien
- Review your investment losses to identify any unusual patterns
- Check your initial account documents to confirm your stated investment objectives
- Document any verbal or written communications about investment recommendations
- Visit BrokerCheck to review the broker’s regulatory record
How Haselkorn & Thibaut Can Help
With over 50 years of combined experience in investment fraud cases, Haselkorn & Thibaut has achieved a 98% success rate and recovered millions of dollars for clients nationwide. The firm operates on a contingency basis, meaning if there’s no recovery, you pay no attorney fees.
Investment fraud cases require specialized knowledge of securities law and FINRA arbitration procedures. The attorneys at Haselkorn & Thibaut understand how to investigate broker misconduct, analyze complex investment losses, and build strong cases for investor recovery. They handle cases involving:
- Unsuitable investment recommendations
- Breach of fiduciary duty
- Negligent supervision
- Churning and excessive trading
- Misrepresentations and omissions
- Unauthorized trading
Free Consultation Available Now
If you invested with Leo Chien at Cetera Investment Services or any of his previous firms and suffered losses, you deserve answers about whether those losses resulted from misconduct or negligence. Time limitations apply to investment fraud claims, so don’t delay in seeking legal guidance.
Contact Haselkorn & Thibaut today at 1-888-885-7162 for a free, confidential consultation. Their experienced attorneys will review your situation, explain your rights, and help you understand your options for potential recovery. With their “no recovery, no fee” promise, you have nothing to lose by exploring whether you have a valid claim.
Remember, investment losses aren’t always just bad luck. When brokers fail to follow the rules designed to protect investors, those harmed have legal remedies available. Don’t let concerns about cost prevent you from seeking the help you need – call 1-888-885-7162 now to speak with an attorney who understands your situation and can fight for your rights.
