Alex Maltez: $651K GWG Complaint Against Ex-Newbridge Advisor

Winter Springs, Florida financial advisor Alex Maltez (CRD# 6506116) recently received an investor complaint alleging that his advice resulted in more than half a million dollars in damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Merrill Lynch, having previously been registered with Newbridge Securities Corporation.

Mr. Maltez’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in November 2025, alleges that as a representative of Newbridge Securities Corporation, he breached contract, misrepresented material facts, breached his fiduciary duty, failed in his supervisory capacities, failed to follow federal securities laws, and violated the SEC’s Regulation Best Interest in connection with investments in GWG. The pending complaint alleges damages of $651,709.

An earlier investor complaint, filed in January 2025, alleged that as a Newbridge representative, he breached his fiduciary duty, acted negligently, and violated Regulation Best Interest in connection with GWG investments. In December 2025 the complaint reached a settlement of $27,500.

A third investor complaint, filed in October 2024, similarly alleged that as a representative of Newbridge, he acted negligently in connection with the sale of GWG investments, breached his fiduciary duty, and violated Regulation Best Interest. In November 2025 the complaint reached a settlement of $55,000.

A fourth investor complaint, filed in 2022, alleged that as a Newbridge representative, he recommended unsuitable alternative investments, failed in his supervisory capacities, breached contract, committed fraud, breached his fiduciary duty, and violated FINRA Rule 2210. In 2023 the complaint reached a settlement of $30,000.

Investors should be aware that FINRA Rule 2210 stipulates that all communications between FINRA members and the public “must be based on principles of fair dealing and good faith, must be fair and balanced, and must provide a sound basis for evaluating the facts in regard to any particular security or type of security, industry, or service.” The rule prohibits FINRA members from omitting material facts that might result in misleading communications, and from making “any false, exaggerated, unwarranted, promissory or misleading statement or claim in any communication.” More information on the rule is available via FINRA.

According to the Financial Industry Regulatory Authority, Alex Maltez holds nine years of securities industry experience. Based in Winter Park, Florida, he has been registered as a broker and an investment advisor with Merrill Lynch since October 2022. His registration history includes Newbridge Securities Corporation, Corecap Securities, USA Financial Securities, and United Planners’ Financial Services of America. He is licensed in Alabama, Connecticut, Florida, Georgia, Massachusetts, New Jersey, New York, Pennsylvania, and Texas. (Information current as of January 3, 2026.)

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