Rick Rappaport: Westpark Capital Advisor Lands $2.5mm Complaint

A recent investor complaint against Los Angeles, California financial advisor Rick Rappaport (CRD# 1885122) alleges that his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with WestPark Capital.

Mr. Rappaport’s BrokerCheck report discloses one investor complaint. Filed in August 2026, it alleges that as a representative of WestPark Capital, he recommended Versity-sponsored Delaware Statutory Trust investments without conducting adequate due diligence or disclosure of material risks and conflicts. The pending complaint alleges damages of $2.5 million.

A second disclosure on his BrokerCheck report concerns a FINRA enforcement action against him. Filed in 2021, the action found that he “made negligent misrepresentations and omissions in connection with the sale of promissory notes issued by his member firm’s parent company.” As a result of these findings, he was issued a fine of $30,000 and a 15-month suspension from registering in any principal capacity.

According to the Financial Industry Regulatory Authority, Rick Rappaport holds 37 years of securities industry experience. Based in Los Angeles, California, he has been registered as a broker and an investment advisor with WestPark Capital since 1993 and 2023, respectively. His past registrations include EBI Securities, Joseph Charles & Associates, and HJ Meyers & Company. His credentials include the passage of eight securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Investment Banking Registered Representative Examination, or Series 79TO; the Securities Trader Exam, or Series 57TO; the Limited Representative-Equity Trader Exam, or Series 55; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He holds two state licenses. (Information current as of September 26, 2026.)

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