Investment professional Patrick Morehead (CRD 6661646) is the subject of a pending customer dispute that seeks approximately $400,000 in alleged damages, according to information reported in FINRA’s BrokerCheck system. The matter involves a consumer‑initiated, investment‑related arbitration filed with FINRA that includes allegations of breach of fiduciary duty, negligence, breach of contract, violation of the California Securities Act, and respondeat superior in connection with certain investments purchased by the customer.
The dispute is currently listed as pending. Allegations in a pending matter have not been proven or adjudicated, and the final outcome may include dismissal, a decision in favor of the respondents, or a settlement with no admission or finding of wrongdoing.
Firm named in the complaint
The BrokerCheck disclosure identifies WestPark Capital, Inc. as the employing firm at the time of the activities that led to the pending complaint. The disclosure describes the product types involved as direct investment DPP and LP interests, as well as inverse and leveraged exchange‑traded funds.
Based on the publicly available disclosure, the pending arbitration was filed with FINRA under case number 25‑00885, with notice reportedly served on May 13, 2025. The disclosure does not list Quiver Financial Holdings LLC as the employing firm or as a respondent in connection with the activities that are the subject of this particular dispute.
Current role and employment history
According to BrokerCheck, Morehead is not currently registered as a broker, but he has passed several securities industry examinations, including the Series 7, Series 7TO, Securities Industry Essentials (SIE), and Series 66 state securities law exam. His prior broker registrations were with:
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VFG Securities, Inc.
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WestPark Capital, Inc.
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American Trust Investment Services, Inc.
His employment history also reflects multiple investment‑related and non‑investment roles over the past decade. Among those roles, Morehead has served as an investment adviser representative with Delta Investment Management, LLC and, more recently, as an investment adviser representative of Quiver Financial Holdings LLC.
BrokerCheck shows that Morehead has been employed by Quiver Financial Holdings LLC as an investment adviser representative since February 2021, based in San Clemente, California. The disclosed customer dispute, however, is tied to activities that occurred while he was employed by WestPark Capital, Inc., not Quiver Financial Holdings LLC.
Nature and status of the allegations
The customer’s statement of claim alleges that Morehead and others were responsible for unsuitable or otherwise improper investment recommendations related to direct participation programs, limited partnerships, and complex exchange‑traded fund strategies, including inverse and leveraged ETFs. These products can involve heightened volatility, use of derivatives, and unique risks that may make them inappropriate for some retail investors, especially when used in buy‑and‑hold or long‑term strategies.
The customer seeks approximately $400,000 in compensatory damages. At this stage, the dispute is categorized as a pending customer dispute, meaning that no final adjudication or settlement has been reported. Allegations in such matters may ultimately be withdrawn, dismissed, resolved by a decision after a hearing, or settled for business reasons without any admission of liability.
What investors can do
Regulators and investor‑education groups frequently encourage investors to independently review the backgrounds of financial professionals they work with. BrokerCheck and the SEC’s Investment Adviser Public Disclosure (IAPD) system are key tools for researching licensing, past employment, and disclosure events such as customer disputes or regulatory actions.
Investors considering or currently working with any financial professional may wish to:
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Review that individual’s full BrokerCheck and, where applicable, IAPD record.
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Ask detailed questions about the risks, costs, and intended time horizon of recommended investments, especially complex or leveraged products.
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Maintain copies of account statements and written communications with their advisor.
Investors who believe they have suffered losses due to unsuitable recommendations or other potential misconduct often consult a securities attorney or their state securities regulator to discuss their options, which may include mediation, arbitration, or other forms of dispute resolution.
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