Billy Hai Zhang (Billy Zhang) – Financial Advisor/Broker Billy Zhang Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Billy Hai Zhang (Billy Zhang) CRD #5510158
Billy Zhang was a registered financial advisor with AXA Advisors, LLC before being permitted to resign in April 2018. According to FINRA, Billy Zhang was fined $5,000 and will be suspended from the securities industry for 15 days in March 2020.
According to FINRA Allegations:
Billy Zhang consented to the sanctions and to the entry of findings that he settled a customer complaint without his member firm’s knowledge or approval. The findings stated that Billy Zhang received a written communication from one of his customers at the firm, in which the customer complained about the use of proceeds from the partial redemption of a variable life insurance product. The $10,600 in proceeds were used to reinstate a separate policy that had lapsed due to the non-payment of premiums. Billy Zhang paid $10,600 to settle the customer’s complaint.
Customer Dispute Filed Involving Billy Zhang:
According to Billy Zhang’s BrokerCheck report, a customer dispute was filed alleging sales practice violations against Billy Zhang. This customer dispute alleges misrepresentation and unsuitability in connection with annuity and insurance policies sold by Billy Zhang in 2014 and 2015. They also allege many of the charge and fees were not disclosed to them at the time of purchase, and that the agent forged their signatures on many of the forms associated with these policies. This customer dispute is pending.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Billy Zhang and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Billy Zhang’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Billy Zhang and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Some of the information in this blog post was obtained on 3/6/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.
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