Jonathan Malinger: Wedbush Advisor Faces Negligence Allegations

Pasadena, California financial advisor Jonathan Malinger (CRD# 5201626) recently received an investor complaint alleging that he committed elder abuse. Financial Industry Regulatory Authority records show that he is registered as a broker with Wedbush Securities.

Mr. Malinger’s BrokerCheck report discloses one investor complaint. Filed in September 2025, it alleges that as a representative of Wedbush Securities, he committed elder abuse, breached his fiduciary duty, acted professionally negligent, and violated both California law and FINRA rules and regulations. The pending complaint alleges unspecified damages.

For reference, negligence refers to an advisor’s failure to uphold their duty of care to their clients. Broadly speaking, that failure takes the form of an advisor doing something that a reasonably prudent advisor would not do under the same circumstances, or not doing something that a reasonably prudent advisor would do. The recommendation of unsuitable investments, the failure to diversify a portfolio, a lack of adequate due diligence on an investment: all of these can be forms of negligence. As with other forms of broker and advisor misconduct, representatives who engage in negligence may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Jonathan Malinger holds 18 years of securities industry experience. Based in Pasadena, California, he has been registered as a broker with Wedbush Securities since 2022. His past registrations include Hilltop Securities (Pooler, Georgia; 2008-2022) and ML Stern & Company (Beverly Hills, California; 2007-2008). His credentials include the passage of three securities industry qualifying exams: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He holds 25 state licenses. (Information current as of October 14, 2025.)

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