Patrick Morehead: $400K Complaint Against Ex-WestPark Advisor

La Mirada, California financial advisor Patrick Morehead (CRD# 6661646) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he was previously registered as a broker with WestPark Capital.

Mr. Morehead’s BrokerCheck report discloses one investor complaint. Filed in May 2025, it alleges that as a representative of WestPark Capital, he breached his fiduciary duty, acted negligently, breached contract, and violated the California Securities Act in connection with investments in inverse and leveraged exchange-traded funds and other products. The pending complaint alleges damages of $400,000.

For reference, securities industry rules stipulate that investment advisers must uphold a fiduciary duty to place their clients’ interests above their own. It also includes a duty to completely disclose any conflicts of interest, and to operate in good faith and with loyalty to their clients. The fiduciary standard is similar to but distinct from the suitability standard established by FINRA Rule 2111, requiring brokers to recommend only investments that are aligned with a client’s background and objectives.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Patrick Morehead holds eight years of securities industry experience. Based in La Mirada, California, his past registrations include Delta Investment Management, American Trust Investment Services, WestPark Capital, VFG Advisors, and VFG Securities. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7TO; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California. (Information current as of June 2, 2025.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.