Haselkorn & Thibaut Opens Investigation into Nick Olivas, Irvine, CA Financial Advisor at Prospera Financial Services (Bregma Private Wealth)
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If you are an investor working with Nick Olivas (CRD# 6803146), currently registered with Prospera Financial Services (doing business as Bregma Private Wealth in Irvine, California), you may have important questions about your investments. Haselkorn & Thibaut, a national law firm with over 50 years of experience, a 98% success rate, and millions recovered for clients, has opened an investigation into the activities and disclosures related to Mr. Olivas. If you have concerns about past or present handling of your accounts, a free consultation is available at 1-888-885-7162.
Background: Who Is Nick Olivas?
Nick Olivas is a financial advisor with eight years of securities industry experience, currently serving clients through Prospera Financial Services and operating under the business name Bregma Private Wealth in Irvine, California.
He holds the following licenses and qualifications:
- Securities Industry Essentials Examination (SIE)
- General Securities Representative Examination (Series 7)
- Uniform Combined State Law Examination (Series 66)
Mr. Olivas is currently licensed in multiple states, including Arizona, California, Colorado, Connecticut, Florida, Nevada, New York, Tennessee, Texas, and Washington.
Past Employment and Industry Experience
| Firm | Role | Dates |
|---|---|---|
| Prospera Financial Services (Bregma Private Wealth) |
Broker/Advisor | 2025–Present |
| LPL Financial | Broker/Advisor | Until 2025 |
| Raymond James & Associates | Broker/Advisor | Prior to LPL |
| Oppenheimer & Company, Merrill Lynch | Broker/Advisor | Earlier |
Red Flags, Disclosures, and Complaints: What Investors Should Know
Reviewing an advisor’s regulatory disclosures and complaint history is a critical step for any investor. Although FINRA BrokerCheck (as of the latest review) does not list publicly available complaints or regulatory actions against Mr. Olivas, disclosures from industry records reveal relevant events you should consider:
-
Termination from LPL Financial (November 2025):
- Mr. Olivas was terminated from LPL Financial. The firm cited the use of an unapproved email address to transmit business-related communications as the reason for his termination. While the use of unapproved communication channels does not always equate to fraud or intentional wrongdoing, it is a violation of firm and industry policies designed to protect clients and ensure compliance. Investors should inquire why business was conducted outside approved channels and request copies of relevant correspondence.
-
Investor Complaints During Tenure at LPL Financial and Raymond James:
- August 2025 (LPL Financial): An investor complaint was filed alleging Mr. Olivas did not follow all trade instructions, resulting in a claimed loss of $12,130. The complaint was ultimately withdrawn, meaning it was not pursued through arbitration or court.
- 2023 (Raymond James): Another client alleged account mismanagement and unauthorized trades, with claimed losses of $117,949.20. This complaint was denied by the firm and did not result in client recovery.
It is important to recognize that allegations, even if withdrawn or denied, signal areas where communication and expectations may not have aligned. FINRA Rule 2010 obligates advisors to maintain high standards of commercial honor. Issues like failing to follow client instructions or executing trades without authorization may pose risks to investors, even if not all allegations result in findings or settlements.
Summary Table of Disclosures and Complaints
| Year | Firm | Type | Allegation | Status |
|---|---|---|---|---|
| 2025 | LPL Financial | Termination | Unapproved business email usage | Terminated |
| 2025 | LPL Financial | Complaint | Did not follow trade instructions; Loss: $12,130 |
Withdrawn by client |
| 2023 | Raymond James | Complaint | Mismanagement/Unauthorized trades; Loss: $117,949.20 |
Denied by firm |
What Should Investors Do?
- Carefully Review Statements: Check each trade and instruction for accuracy.
- Request Written Records: Insist on written communication and confirmations for all transactions.
- Reassess Your Advisor Relationship: If you feel uncomfortable or believe your interests haven’t been placed first, get a professional review.
How Haselkorn & Thibaut Can Help You
Haselkorn & Thibaut focuses exclusively on claims for investor losses due to advisor misconduct or firm supervision issues.
There are no upfront costs or fees—if there is no recovery, there is no fee.
- Free and confidential consultations
- National reach—with experience in cases involving LPL Financial, Prospera Financial Services, and other broker-dealers
- Personalized review of your portfolio, transactions, and communication trail
- Direct access to attorneys, not paralegals or call centers
Concerned About Your Investments? Contact Haselkorn & Thibaut Today
If you are a current or former client of Nick Olivas at Prospera Financial Services/Bregma Private Wealth in Irvine, CA, or if you had accounts at any of his previous broker-dealers, take the proactive step of securing a free portfolio review and consultation. Issues such as unauthorized trading, failure to follow instructions, or using unapproved communication channels may justify a more in-depth review for possible recovery of losses.
