Can I recover losses from investments with former Cetera Advisors LLC broker Luong Pham (CRD# 2830422)? He was registered with Cetera Advisors LLC in Dayton, Ohio, from 2019 to 2022. Previously, he was registered with TCFG Wealth Management, LLC in Laguna Niguel, California, from 2017 to 2018 and with Wells Fargo Clearing Services, LLC in Miamisburg, Ohio, from 2012 to 2017. Prior to then he was registered with FSIC in Boca Raton, Florida, in December 2017, when he was terminated regarding, “it was discovered that mr. pham obtained certain client information from his previous employer without authorization and intended to use such information in contravention of the agreement under the protocol for broker recruiting and in violation of SEC’s regulation s-p.”
Luong Pham Customer Complaints
He has been the subject of three customer complaints between 2000 and 2023, two of which were denied, according to his CRD report:
February 2023. “Claimant alleges their financial adviser recommended unsuitable investments that resulted in losses.” The customer is seeking $150,000 in damages and the case is currently pending. The complaint was regarding ETFs and common and preferred stocks, and it took place while he was registered with Cetera Advisors LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Cetera Advisors LLC may be liable for investment or other losses suffered by Luong Pham’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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