Haselkorn & Thibaut has opened an investigation into Anthony Cheng, a former San Jose, California financial advisor (CRD# 6242405), who was most recently affiliated with Ameritas Investment Company, also known as Thrive Wealth Solutions. If you are an investor who worked with Anthony Cheng, understanding the details of his background and regulatory history is essential to protect your interests. This report will review publicly available information, spotlight any red flags, carefully analyze regulatory disclosures, and help you determine your next steps.
Background: Anthony Cheng – San Jose, California Advisor
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Anthony Cheng accrued 11 years of experience in the securities industry, according to FINRA records. He was registered as a broker with Ameritas Investment Company from 2015 through 2025, working under the business name Thrive Wealth Solutions. His prior roles included working with Pruco Securities and Waddell & Reed. Mr. Cheng successfully passed the following securities exams:
- Securities Industry Essentials Examination (SIE)
- Uniform Combined State Law Examination (Series 66)
- General Securities Representative Examination (Series 7)
He most recently operated out of San Jose, California. As of February 2026, Mr. Cheng is no longer licensed to act as a broker.
Termination and FINRA Bar: Major Regulatory Developments
In May 2025, Anthony Cheng was terminated by Ameritas Investment Company, citing failure to follow firm “Policies and Procedures regarding a Private Securities Transaction (selling away) and unreported Outside Business Activity.” This event alone should prompt investors to review any transactions or advice received from Mr. Cheng during his tenure.
The most significant action occurred in February 2026. FINRA barred Anthony Cheng from associating with any FINRA member firm in any capacity after he refused to cooperate with a regulatory investigation.
Details of the FINRA Investigation
- FINRA’s inquiry was focused on whether Mr. Cheng engaged in undisclosed outside business activities.
- He received a direct request to provide records and information related to these activities. Under FINRA Rule 8210, individuals must provide requested documents and information to FINRA during inquiries.
- Mr. Cheng informed FINRA by email that he would not produce the required documents.
- Refusal to comply with FINRA’s request is considered a violation of both Rule 8210 and Rule 2010, the latter requiring associates to uphold high ethical standards and fair dealing with investors.
- As a result, FINRA issued a permanent bar preventing Anthony Cheng from working in the financial services industry at a FINRA-registered firm.
Current Public Disclosures and Complaint Summary
To maintain accurate reporting, Haselkorn & Thibaut examined the latest available records (including FINRA BrokerCheck, SEC enforcement announcements, federal and state court dockets, news coverage, and public filings) for Anthony Cheng (CRD 6242405) as of June 2024:
| Type | Details |
|---|---|
| Customer Complaints | None reported |
| Written Customer Arbitration | None reported |
| Employment Terminations for Cause | As of June 2024, none reported (Note: Ameritas termination occurred in May 2025) |
| Regulatory Actions (FINRA/SEC/State) | As of June 2024, none reported (Bar by FINRA occurred February 2026) |
| Civil Judgments/Liens/Bankruptcies | None located |
| News Media / Press Reports | No negative or investigative coverage |
| Court Dockets (Federal/State) | No lawsuits or civil actions found |
Based on FINRA BrokerCheck (as of the last public update prior to regulatory action), there were no customer complaints or arbitration claims naming Anthony Cheng. No SEC or state enforcement proceedings, and no civil litigation, were found under his name. After mid-2025, his Ameritas termination and subsequent FINRA bar represent major regulatory disclosures.
Red Flags Investors Should Know
Although no customer complaints or lawsuits have been made public to date, the following red flags should be carefully considered if you were advised by Anthony Cheng:
- Termination “For Cause” in May 2025 for allegedly violating firm policy regarding outside business activities and “selling away.”
- Permanent Bar by FINRA in February 2026, after refusing to hand over documents relating to a regulatory probe.
- Investigation centered on undisclosed activities, which typically raise concerns about unauthorized transactions or conflicts of interest.
- Failure to cooperate with regulators is a significant warning sign regarding transparency and accountability.
Key Takeways for Investors
- Carefully review any transactions or advice involving Anthony Cheng, particularly if conducted between 2015 and 2025 at Ameritas Investment Company / Thrive Wealth Solutions.
- A FINRA bar means a total prohibition from associating with any FINRA-member financial firm.
- Although there are no public customer complaints as of the last available search, regulatory bars and firings are strong indicators to review your accounts carefully.
- Engaging in outside business without disclosure or firm approval can sometimes suggest product recommendations made outside firm oversight—potentially putting your investments and interests at risk.
Haselkorn & Thibaut: How We Help Investors Like You
If you are concerned about your investments with Anthony Cheng or suspect losses connected to unauthorized or unsuitable recommendations, Haselkorn & Thibaut is a national securities fraud law firm with over 50 years of combined experience, a proven 98% success rate, and millions recovered for harmed investors. We provide free, confidential consultations and work on a strictly no recovery, no fee basis.
Our team is now investigating matters related to Anthony Cheng and Ameritas Investment Company. If you would like an individualized review or have questions about your rights, don’t wait—call 1-888-885-7162 now to speak directly with a dedicated investment loss attorney, or visit our website to schedule your free case evaluation.
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