Fariba Madison: Ex-WIS Advisor Faces $358K Complaint

Los Alamitos, California financial advisor Fariba Madison (CRD# 1178259) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that she is registered as a broker with Vanderbilt Securities and an investment advisor with Vanderbilt Advisory Services.

Ms. Madison’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in June 2025, alleges that as a representative of Western International Securities, she made a misleading and unsuitable investment recommendation. The pending complaint alleges damages of $358,000.

An earlier investor complaint, filed in 2022, alleged that as a Western International Securities representative, she acted negligently and engaged in unjust enrichment. In 2024 the complaint reached a settlement of $150,000.

A third investor complaint, filed in 2022, alleged that as a Western International Securities representative, she recommended unsuitable corporate bond investments. In 2023 the complaint reached a settlement of $225,000.

A fourth investor complaint, filed in 2022, alleged that she acted negligently in connection with the recommendation of corporate bond investments while a representative of Western International Securities. In 2023 the complaint reached a settlement of $150,000.

A fifth investor complaint, filed in 2022, alleged that she negligently misrepresented material facts while a Western International Securities representative. In 2023 the complaint reached a settlement of $14,999.

According to the Financial Industry Regulatory Authority, Fariba Madison holds 38 years of securities industry experience. Based in Los Alamitos, California, she has been registered as a broker with Vanderbilt Securities and an investment advisor with Vanderbilt Advisory Services since 2025. Her past registrations include Western International Securities, US Bancorp Investments, Citicorp Investment Services, Essex National Securities, Gateway Investment Services, FIMCO Securities Group, and National Partnership Equities. Her credentials include the passage of nine securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Representative Examination, or Series 7; the Municipal Securities Representative Examination, or Series 52TO; the Municipal Securities Principal Examination, or Series 53; and the General Securities Principal Examination, or Series 24. She is licensed in Arizona, California, Florida, Kansas, and Nevada. (Information current as of June 19, 2025.)

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