Celia Zhang: Suitability Complaint Against Ex-Cetera Advisor

San Gabriel, California financial advisor Celia Zhang (CRD# 5918387) allegedly recommended unsuitable investments, according to investor complaints. Financial Industry Regulatory Authority records show that she is registered as a broker and an investment advisor with Independent Financial Group, doing business as Sunrise Investment Capital.

Ms. Zhang’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2025, alleges that as a representative of Cetera Investment Services, she recommended unsuitable investments. The pending complaint alleges damages estimated to be greater than $5,000.

An earlier investor complaint, filed in 2023, alleged that as a Cetera representative, she recommended unsuitable real estate investments. The complaint reached a settlement of $240,000.

A third investor complaint, filed in 2022, similarly alleged that as a Cetera Investment Services representative, she recommended an unsuitable investment in a fixed annuity. In 2023 the complaint reached a settlement of $400,000.

A fourth investor complaint, filed in 2021, also alleged that she recommended an unsuitable real estate investment. In 2022 the complaint reached a settlement of $200,000.

In a statement included with the complaint’s disclosure, Ms. Zhang defended herself against the allegations. “Investments made were in line with Claimants’ stated investment objectives, risk tolerance and time horizon,” she wrote. “Claim cherry-picks investments that did not perform as expected/anticipated and fails to acknowledge that Claimants had other similar investments, that they profited from other similar investments in the past, that they received (and acknowledged receipt of) disclosure documents outlining the parameters and risks of the investments and that they had extensive investment experience.”

A fifth investor complaint, filed in 2015, alleged that as a Cetera representative, she misrepresented an investment in a certificate of deposit. The complaint reached a settlement of $7,919.

According to the Financial Industry Regulatory Authority, Celia Zhang holds 13 years of securities industry experience. Based in San Gabriel, California, she has been registered as a broker and an investment advisor with Independent Financial Group since 2020, doing business as Sunrise Investment Capital. Her past registrations include Cetera Investment Services and Merrill Lynch. Her credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Combined State Law Examination, or Series 66. She is licensed in California and Massachusetts. (Information current as of April 12, 2025.)

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