There are options for clients of former LPL Financial LLC broker Phillip Kao (CRD# 4654233) regarding allegations of unsuitable investment recommendations involving real estate securities. He has been registered with Arete Wealth Management, LLC in San Rafael, California, since 2024. He was registered with Portsmouth Financial Services in San Francisco, California, from 2021 to 2024, with Woodbury Financial Services, Inc. in Cupertino, California, from 2015 to 2021, and with LPL Financial LLC in San Jose, California, from 2010 to 2015.
Phillip Kao Customer Complaints
He has been the subject of two customer complaints between 2016 and 2024, one of which was denied, according to his CRD report:
February 2024. “Customer alleges an investment made in 2014 was unsuitable for the customer’s investment objectives and risk tolerance.” The customer is seeking damages, and the case is currently pending. The complaint was regarding real estate security losses, and it took place while he was registered with LPL Financial 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, LPL Financial LLC may be liable for investment or other losses suffered by Phillip Kao’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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