Last Updated: July 2025 – Alhambra, CA
Here’s what you need to know about Alhambra, CA, former stockbroker Leo Li-Yuan Chien:
- Name: Leo Li-Yuan Chien
- CRD Number: 4169619
- Current Status: Not currently registered with any FINRA-member firm
- Most Recent Employer: Cetera Investment Services LLC (2012–2024)
- Prior Employers: HSBC Securities, Citigroup Global Markets, Linsco/Private Ledger Corp, others
- Function: Stockbroker / Financial Advisor
- Primary Location: Alhambra, CA
- Can Leo Chien be sued in FINRA arbitration? Yes
- Highest Settlement or Award: $175,000
- Pending Disputes Seek Damages of: $1,054,000
If you’ve sustained damages from Mr. Chien, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Leo Chien As Your Stockbroker?
Leo Chien is the subject of numerous customer complaints—eight in total—stemming from his tenure at Cetera Investment Services LLC, largely involving unsuitable investment recommendations and high-risk products including:
- Real estate investment trusts (REITs)
- Variable and fixed annuities
- Direct participation programs (DPPs) and limited partnerships
In a currently pending case, civil lawsuit in California Superior Court (Case No. 24STCV05284) filed on March 11, 2024, a customer of Cetera alleges that Chien failed to deliver the proceeds from a fixed annuity investment. The client seeks $1,054,759.37 in damages. This litigation remains active.
Another pending FINRA arbitration (Case No. 25-00430) filed on April 15, 2025, claims that Chien recommended unsuitable real estate securities to the client. Damages are not currently specified.
Four prior cases have been settled:
- Case No. 23-01921 (Settled April 2024)
- Allegations: Unsuitable investment recommendations involving variable annuities and real estate securities
- Settlement: $175,000
- Case No. 22-00789 (Settled July 2023)
- Allegations: Unsuitable recommendations in alternative investments
- Settlement: $35,000
- Case No. 22-00579 (Settled May 2023)
- Allegations: Unsuitable investment recommendations involving REITs and annuities
- Settlement: $140,000
- Case No. 21-01611 (Settled August 2022)
- Allegations: Unsuitable investments in direct participation programs and REITs
- Settlement: $170,000
These issues raise potential violations of FINRA Rule 2111 (Suitability Rule) and Reg BI (Regulation Best Interest), both of which require brokers to make recommendations in line with a client’s risk profile and investment objectives.
Allegations of Broker Misconduct Against Leo L. Chien
- Misrepresentation about NorthStar Healthcare Income REIT
- Misleading mutual fund recommendation
- Unsuitable Investments
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Recover Your Investment Losses Now With Rex Securities Law
Investigation of Cetera Financial Brokers-Lawsuits, Arbitrations & Disputes
If you have suffered investment losses in an account handled by Leo Chien, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.