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Haselkorn & Thibaut has opened an investigation into Jonathan Malinger, a financial advisor with Wedbush Securities in Pasadena, California, following serious allegations of elder abuse and professional misconduct.
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Understanding the Allegations Against Jonathan Malinger
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If you’re an investor who has worked with Jonathan Malinger or are considering doing so, there’s important information you need to know. A recent investor complaint filed in September 2025 raises significant concerns about his professional conduct while representing Wedbush Securities.
The allegations against Malinger are particularly troubling because they involve elder abuse – one of the most serious violations in the financial services industry. Additionally, the complaint alleges:
- Breach of fiduciary duty
- Professional negligence
- Violations of California law
- Violations of FINRA rules and regulations
While the damages remain unspecified and the complaint is pending, these allegations warrant careful consideration by any investor who has entrusted their financial future to this advisor.
What Professional Negligence Means for Your Investments
When a financial advisor is accused of professional negligence, it means they may have failed to meet the standard of care expected in the industry. This isn’t just about making a bad investment call – it’s about failing to act as a reasonably prudent advisor would under similar circumstances.
Common forms of negligence include:
| Type of Negligence | What It Means for You |
|---|---|
| Unsuitable Investment Recommendations | Investments that don’t match your risk tolerance or financial goals |
| Failure to Diversify | Concentrating too much of your portfolio in one area |
| Inadequate Due Diligence | Not properly researching investments before recommending them |
Jonathan Malinger’s Professional Background
Understanding an advisor’s background helps you make informed decisions about your investments. Jonathan Malinger (CRD# 5201626) brings 18 years of securities industry experience to his role at Wedbush Securities, where he’s been registered since 2022.
His career history includes:
- Hilltop Securities (Pooler, Georgia): 2008-2022
- ML Stern & Company (Beverly Hills, California): 2007-2008
Malinger has passed three securities industry qualifying exams – the Series 63, SIE, and Series 7 – and holds licenses in 25 states. While these credentials demonstrate technical knowledge, they don’t guarantee ethical behavior or protect investors from potential misconduct.
Red Flags Every Investor Should Watch For
The allegations against Jonathan Malinger highlight several red flags that all investors should monitor:
1. Elder Abuse Concerns: This is perhaps the most serious allegation. Elder abuse in financial services can take many forms, from unauthorized transactions to exploiting diminished capacity.
2. Fiduciary Duty Violations: When an advisor breaches their fiduciary duty, they’re putting their own interests ahead of yours. This fundamental violation of trust can lead to significant financial losses.
3. Pattern of Moving Firms: While changing firms isn’t inherently problematic, Malinger’s move from Hilltop Securities to Wedbush Securities after 14 years raises questions worth exploring.
Protecting Your Financial Future
If you’ve worked with Jonathan Malinger at Wedbush Securities or any of his previous firms, now is the time to review your accounts carefully. Look for:
- Unexplained losses in your portfolio
- Transactions you didn’t authorize
- Investments that seem inappropriate for your age or risk tolerance
- Excessive trading or account churning
- Communication issues or reluctance to answer questions
Remember, you have rights as an investor. Financial advisors have a legal obligation to act in your best interests, especially when dealing with elderly or vulnerable clients.
Why This Investigation Matters
Haselkorn & Thibaut, a national investment fraud law firm with over 50 years of experience, has opened an investigation into Jonathan Malinger and his activities at Wedbush Securities. With a 98% success rate and millions recovered for clients, the firm operates on a “no recovery, no fee” basis.
This investigation aims to help investors who may have suffered losses due to the alleged misconduct. Even if you haven’t experienced losses yet, understanding these allegations can help you make informed decisions about your financial advisor.
Take Action to Protect Your Investments
Don’t wait for losses to mount before taking action. If you have concerns about your investments with Jonathan Malinger or Wedbush Securities, professional help is available.
Contact Haselkorn & Thibaut today at 1-888-628-5590 for a free consultation. Their experienced team can review your situation, explain your rights, and help you understand your options – all at no cost to you unless they recover money on your behalf.
Your financial security is too important to leave to chance. Whether you’re dealing with unexplained losses, concerned about the handling of your accounts, or simply want peace of mind, taking the first step toward protecting your investments costs nothing but could save your financial future.
