Haselkorn & Thibaut, a national investment fraud law firm, has opened an investigation into former Cetera Investment Services broker Leo Li-Yuan Chien (CRD# 4169619) following multiple customer complaints and regulatory concerns. If you invested with Mr. Chien and experienced losses, you may have legal options to recover your funds.
Understanding Leo Chien’s Background and Current Status
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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. He is no longer affiliated with any FINRA-member brokerage firm, which raises immediate concerns for investors who may still hold accounts or investments he recommended.
His employment history reveals a pattern of movement between major financial institutions:
| Firm | Time Period |
|---|---|
| Cetera Investment Services LLC | 2012 – 2024 |
| HSBC Securities | Prior to 2012 |
| Citigroup Global Markets | Prior Employment |
| Linsco/Private Ledger Corp | Prior Employment |
Red Flags Every Investor Should Know
Several concerning patterns emerge when examining Mr. Chien’s regulatory record:
- No longer registered – Cannot legally conduct securities transactions
- Multiple customer complaints – Pattern of disputes with clients
- Regulatory disclosures – Official actions on his record
- Employment termination concerns – Questions about departure from firms
When a financial advisor accumulates multiple complaints, it often indicates systematic problems with how they manage client accounts. These issues don’t simply disappear when an advisor leaves the industry – investors may still be holding unsuitable investments or dealing with ongoing losses.
Detailed Analysis of Customer Complaints
According to FINRA BrokerCheck records, Leo Chien has faced several customer complaints throughout his career. These complaints typically involve:
Complaint Categories and Concerns:
- Unsuitable Investment Recommendations – Placing clients in investments that don’t match their risk tolerance or financial goals
- Misrepresentation – Allegedly providing false or misleading information about investment products
- Breach of Fiduciary Duty – Failing to act in clients’ best interests
- Negligence – Failure to properly manage or monitor client accounts
Why These Complaints Matter: Each complaint represents a real investor who trusted their financial future to this advisor. When patterns emerge across multiple complaints, it suggests these weren’t isolated incidents but potentially systematic problems with how the advisor conducted business.
What This Means for Investors
If you worked with Leo Chien at Cetera Investment Services or any of his previous firms, you should immediately review your account for several key issues:
| Warning Sign | What to Look For |
|---|---|
| Excessive Trading | Frequent buying and selling that generated commissions but little profit |
| Concentrated Positions | Over-investment in single stocks or sectors |
| Complex Products | Structured notes, non-traded REITs, or other illiquid investments |
| Unexplained Losses | Account declines that don’t match market performance |
Your Legal Rights and Recovery Options
Even though Mr. Chien is no longer registered, you may still have legal recourse. FINRA arbitration claims can typically be filed within six years of the misconduct, and brokerage firms like Cetera Investment Services remain responsible for supervising their representatives’ activities.
Investors who suffered losses may be entitled to recover:
- Investment losses
- Lost opportunity costs
- Interest on damages
- Attorney’s fees in some cases
Why Time Matters in Investment Fraud Cases
The securities industry operates under strict statutes of limitations. Waiting too long to take action could mean losing your right to recover losses forever. Additionally, evidence can disappear, witnesses’ memories fade, and financial records become harder to obtain as time passes.
Many investors don’t realize they’ve been victims of misconduct until years later, especially if their advisor provided reassuring explanations for losses or discouraged them from asking questions. If something doesn’t feel right about your investments with Leo Chien, trust your instincts and seek professional guidance.
How Haselkorn & Thibaut Can Help
With over 50 years of combined experience and a 98% success rate, Haselkorn & Thibaut has recovered millions of dollars for investors nationwide. The firm operates on a “no recovery, no fee” basis, meaning you pay nothing unless they successfully recover funds on your behalf.
Their investigation into Leo Chien and Cetera Investment Services focuses on helping investors understand their rights and options. Every situation is unique, and what happened to you matters.
Don’t let uncertainty about your legal options prevent you from seeking help. A free consultation can provide clarity about your situation and potential paths forward. The dedicated team at Haselkorn & Thibaut understands the stress and confusion that comes with investment losses, and they’re committed to fighting for investors’ rights.
Take Action Today
If you invested with Leo Li-Yuan Chien at Cetera Investment Services or any other firm, and you’ve experienced losses or have concerns about your account management, call Haselkorn & Thibaut today at 1-888-885-7162 for a free, confidential consultation.
Remember, there’s no cost to learn about your options, and with their “no recovery, no fee” promise, you have nothing to lose by exploring whether you have a valid claim. Your financial future is too important to leave to chance – get the experienced legal guidance you deserve.
