Matt Westberry: SCF Advisor Faces Suitability Complaint

Marion, Iowa financial advisor Matt Westberry (CRD# 4908745) has received multiple investor complaints alleging that he recommended unsuitable investments. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former SCF Securities broker is currently registered as an investment advisor with Secure Asset Management and the owner of Westberry Wealth Management.

Mr. Westberry’s BrokerCheck report discloses two investor complaints. The most recent, filed in The most recent, filed in April 2026, alleges that as a representative of Cambridge Investment Research, he recommended unsuitable real estate investments. The pending complaint alleges unspecified damages.

An earlier investor complaint, filed in 2024, alleged that as a representative of Cambridge Investment Research, he “recommended a speculative, illiquid, high commission product that was unsuitable for the clients. It is alleged this recommendation exposed clients to unnecessary risk.” The complaint reached a settlement of $6,750.

An unsuitable investment, according to FINRA Rule 2111, is an investment which the broker does not have a reasonable basis to believe is appropriate for their customer’s investment profile. An investor’s profile “includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance,” and other factors. FINRA-associated brokers are required to perform reasonable diligence to determine a customer’s profile; they must also ensure that the investment in question is not only suitable for some customers, but for the specific customer to which they are recommending it.

A third disclosure on his BrokerCheck report concerns his termination from SCF Securities. Filed in 2024, the disclosure states that the firm fired him after he was charged by the Department of Treasury with filing a false lien release.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Matt Westberry holds 20 years of securities industry experience. Based in Marion, Iowa, he has been registered as an investment advisor with Secure Asset Management since July 2025. His past registrations include SCF Investment Advisors, SCF Securities, LPL Financial, Cambridge Investment Research, and National Planning Corporation. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He is licensed in Iowa. (Information current as of May 20, 2026.)

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