Our firm is investigating A.G.P. / Alliance Global Partners broker and investment adviser representative Matt Ward (CRD# 2075525) of Santa Monica, California, for potential investment-related misconduct.
Financial Advisor Matt Ward’s Career History
Matt Ward began working in the securities industry in 1990. He has been registered as a broker with A.G.P. / Alliance Global Partners since April 2012 and works from the firm’s Santa Monica, California branch. The report also identifies Ward as an investment adviser representative in California.
Ward’s prior brokerage registrations include:
- Lehman Brothers Inc. from October 1990 to July 1993
- Smith Barney Shearson Inc. from July 1993 to December 1993
- Sutro & Co. Incorporated from December 1993 to July 1995
- Merrill Lynch, Pierce, Fenner & Smith Incorporated from July 1995 to September 1996
- Maxwell Capital, Inc. from October 1996 to July 1997
- National Securities Corporation from July 1997 to April 2012
- A.G.P. / Alliance Global Partners from April 2012 to the present
Ward is currently registered through two self-regulatory organizations and licensed in 49 U.S. states and territories. He has passed one principal or supervisory examination, two general industry or product examinations, and one state securities law examination.
Matt Ward Fraud Allegations and Investor Complaints Explained
Matt Ward’s FINRA BrokerCheck report contains three disclosure events: one final regulatory action, one settled customer dispute, and one pending customer dispute. The pending matter alleges breach of fiduciary duty, but the report does not state that FINRA or an arbitration panel has made a finding of fraud. Pending allegations are unproven unless and until they are established through arbitration, litigation, or another adjudicatory process.
Pending 2026 FINRA Arbitration Alleging Breach of Fiduciary Duty
Ward is the subject of a pending customer arbitration involving alleged damages of $499,999. The claimant alleges that Ward breached his fiduciary duty in connection with an over-the-counter equity investment while he was associated with A.G.P. / Alliance Global Partners.
The arbitration was filed with FINRA Dispute Resolution on May 15, 2026, under docket number 26-01112. The complaint was received on May 22, 2026, and remained pending as of June 18, 2026. No settlement amount or individual contribution by Ward was reported.
Because this arbitration remains pending, the breach-of-fiduciary-duty allegation has not been proven, and the matter may ultimately be dismissed, settled, or decided in favor of either party.
Settled Customer Dispute Alleging Unsuitable Trading, Unauthorized Trading, and Churning
A previous customer dispute alleged that Ward engaged in unsuitable trading, unauthorized trading, and churning between January 2010 and June 2014. The activities were reported as occurring while Ward was associated with Euro Pacific Capital, Inc. and involved listed and over-the-counter equities, including common and preferred stock.
The customer alleged damages of $89,774.50. The matter was filed with FINRA under docket number 16-01513, and Ward received notice of the proceeding on June 9, 2016.
The dispute was settled on November 8, 2018, for $25,000. Ward reportedly made no individual contribution toward the settlement.
Ward denied the allegations. According to his statement in the BrokerCheck report, he maintained that the trades were suitable, consistent with the customer’s objectives and risk tolerance, and frequently directed by the customer. A settlement does not necessarily constitute an admission or finding of wrongdoing.
2024 FINRA Regulatory Action Involving Discretionary Trading
On February 7, 2024, FINRA resolved a regulatory proceeding against Ward through a Letter of Acceptance, Waiver, and Consent under case number 2023080530501.
Without admitting or denying FINRA’s findings, Ward consented to findings that he exercised discretion in customer accounts without obtaining prior written authorization from the customers and without A.G.P. / Alliance Global Partners accepting the accounts as discretionary. FINRA stated that Ward executed trades without first speaking with the customers on the dates of the transactions, although the customers reportedly knew that he was exercising discretion.
FINRA imposed the following sanctions:
- Action: Final FINRA regulatory proceeding
- Disposition: Acceptance, Waiver, and Consent
- Fine: $5,000
- Fine payment date: March 10, 2024
- Suspension: 15 business days in all capacities
- Suspension period: March 4, 2024, through March 22, 2024
- Product involved: Unspecified securities
Summary of Matt Ward’s FINRA Disclosures
- Pending customer dispute: A 2026 FINRA arbitration alleges breach of fiduciary duty involving an over-the-counter equity investment and seeks $499,999 in damages. The matter remains pending.
- Settled customer dispute: A customer alleged unsuitable trading, unauthorized trading, and churning involving listed and over-the-counter equities. The claim alleged $89,774.50 in damages and settled for $25,000 in November 2018. Ward denied the allegations and contributed $0 to the settlement.
- Final regulatory action: FINRA found that Ward exercised discretion without customers’ prior written authorization and without firm approval of the accounts as discretionary. Ward consented to a $5,000 fine and a 15-business-day suspension without admitting or denying the findings.
Matt Ward’s disclosure history includes allegations involving breach of fiduciary duty, unsuitable trading, unauthorized trading, churning, and improper discretionary trading. Investors who maintained accounts with Ward and experienced unexplained transactions, excessive trading, concentrated OTC equity positions, or substantial losses may wish to have their account records independently reviewed. To obtain a copy of Matt Ward’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 3260 governs discretionary brokerage accounts. The rule generally prohibits a broker from exercising discretion over a customer’s account unless the customer has provided prior written authorization and the brokerage firm has accepted the account as discretionary in writing. The 2024 regulatory action against Ward concerned precisely these safeguards: FINRA reported that customers had not provided written authorization and that A.G.P. had not accepted their accounts as discretionary. A customer’s informal awareness that a broker is selecting transactions does not replace the written approvals required by the rule.
FINRA Rule 2111 addresses the suitability of recommended securities transactions and investment strategies. It requires reasonable-basis suitability, customer-specific suitability, and, when a broker recommends a series of transactions, quantitative suitability. Quantitative suitability examines whether the transactions are excessive when considered together, including factors such as turnover, trading costs, and in-and-out trading. This rule is relevant to the settled allegations of unsuitable trading and churning for conduct occurring after Rule 2111 became effective on July 9, 2012; predecessor suitability standards governed the earlier portion of the alleged January 2010 through June 2014 period. The settlement itself did not establish that Ward violated the rule.
FINRA Rule 2010 requires brokerage firms and associated persons to observe high standards of commercial honor and just and equitable principles of trade. The rule serves as a broad ethical standard and may apply when a broker engages in unauthorized discretionary transactions or other business conduct inconsistent with the duties owed to customers. It may also be relevant to a breach-of-fiduciary-duty allegation if the underlying conduct is proven, but the pending 2026 arbitration remains an allegation rather than an adjudicated violation.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
