Who is Gary Thomas Madrid?
Table of Contents
Gary Thomas Madrid is a registered financial advisor based in Irvine, CA, currently associated with WestPark Capital, Inc. (CRD #39914). He has been registered with WestPark Capital since July 20, 2016, and operates from their branch at 2030 Main Street, Suite 210, Irvine, CA 92614. Over his career, he has worked at several other broker-dealers, including Newport Coast Securities, GunnAllen Financial, Brookstreet Securities, Toluca Pacific Securities, Whitehall Investment Securities, and The Stuart-James Company.
| Advisor | Current Firm | Location | CRD Number |
|---|---|---|---|
| Gary Thomas Madrid | WestPark Capital, Inc. | Irvine, CA | 1934700 |
Complaints and Disclosures: What Investors Need to Know
Review of publicly available sources including FINRA BrokerCheck confirms that Gary T. Madrid has disclosures on his official record, including both customer complaints and financial liens. Investors should be aware of the following specifics:
Open Customer Complaints and Legal Actions
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Open FINRA Arbitration (August 2025):
A pending FINRA arbitration (Case No. 25-01666) was filed against Gary Madrid in August 2025, alleging “unsuitability,” breach of fiduciary duty, and violations of Regulation Best Interest (Reg BI) relating to his recommendations of GWG bonds while at WestPark Capital, Inc. The claim seeks $50,000 in damages and is currently unresolved.
Outstanding Tax Liens
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Three Outstanding Tax Liens:
Gary Madrid reports three outstanding tax liens totaling more than $270,000. These liens are filed in Orange County and Santa Ana County, CA. Tax liens—especially of this size—are important for investors to note, as they may impact an advisor’s financial stability or decision-making.
Prior Broker-Dealer Affiliations
Having a history at multiple firms is not by itself a red flag, but investors should note Mr. Madrid’s prior employment at companies that have themselves been subjects of regulatory reviews in the past. His professional background includes:
- Newport Coast Securities, Inc.
- GunnAllen Financial, Inc.
- Brookstreet Securities Corporation
- Toluca Pacific Securities Corp.
- Whitehall Investment Securities, Ltd.
- The Stuart-James Company, Incorporated
Key Allegations Against Gary Madrid
Recent legal filings and investigations highlight several serious allegations related to Mr. Madrid’s professional conduct:
- Unsuitability: Allegations that investment products recommended (such as GWG bonds) did not align with the client’s risk profile or needs.
- Breach of Fiduciary Duty: Claims that Mr. Madrid prioritized firm or personal interests above client interests.
- Negligence: Claims that Mr. Madrid failed to exercise the due care required by FINRA regulations.
- Fraud: There are references to allegations of misrepresentation or omission of critical facts, though at least one matter remains pending.
- Unauthorized Trading: Allegations that trades were placed in customer accounts without proper authorization.
Summary Table of Current Red Flags for Gary Madrid
| Disclosure Type | Status | Details |
|---|---|---|
| Customer Complaint | Pending | August 2025 FINRA arbitration – GWG bonds, $50,000 sought |
| Tax Liens | Outstanding | Three liens, $270,000+ total, Orange County & Santa Ana County, CA |
| Allegations of Misconduct | Ongoing Investigation | Unsuitability, breach of fiduciary duty, negligence, unauthorized trading |
Why Do These Disclosures Matter to Investors?
Customer disputes and legal filings are vital indicators of possible problems with an advisor’s practices and compliance.
Even a single complaint—especially when unresolved—may signal a lack of transparency or potential risk. Outstanding tax liens are also significant, suggesting possible personal financial challenges that could impact professional judgment or diligence.
How Can Investors Protect Themselves?
Investors should routinely review their statements, ask questions about complex investment products—particularly those involving higher risks or less liquidity, like GWG bonds—and monitor their advisor’s regulatory record for new disclosures.
Haselkorn & Thibaut is currently investigating these matters on behalf of investors nationwide. If you suffered losses after working with Gary Madrid, or simply wish to better understand your legal options, the firm is offering a free, confidential consultation to discuss your rights.
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