Matt West & Patrick Mendenhall: USCA Denies $3.5mm Complaint

Houston, Texas financial advisors Matt West (CRD# 2554449) and Patrick Mendenhall (CRD# 1068809) recently received an investor complaint alleging seven-figure losses. Financial Industry Regulatory Authority records show that each is registered as a broker with USCA Securities and an investment advisor with US Capital Wealth Advisors.

Mr. West’s BrokerCheck report and Mr. Mendenhall’s BrokerCheck report each discloses the same investor complaint. Filed in October 2023, it alleges that missed opportunity resulted in losses. The complaint alleged damages of $3.5 million and was denied by their member firm.

Mr. Mendenhall’s BrokerCheck report also discloses two past investor complaints. The most recent, filed in 2019, alleged that as a representative of USCA Securities, he made recommendations to purchase and hold a security that resulted in losses. In 2002 the complaint reached a settlement of $200,000. In a statement included with the complaint’s disclosure, he pushed back against the allegations, writing: “Client is an experienced, sophisticated investor who overall made money in his USCA accounts, settled for less than cost of defense, and there was no contribution by Mr. Mendenhall.”

An earlier investor complaint against Mr. Mendenhall, filed in 2000, alleged that as a representative of Painewebber, he breached his fiduciary duty, acted negligently, made excessive trades, recommended unsuitable investments, and executed unauthorized trades. In 2001 the complaint reached a settlement of $650,000.

According to the Financial Industry Regulatory Authority, Matt West holds 40 years of securities industry experience. Based in Houston, Texas, he has been a broker with USCA Securities since 2010 and an investment advisor with US Capital Wealth Advisors since 2021. His past registrations include USCA Asset Management, USCA RIA LLC, UBS Financial Services, Smith Barney Harris Upham, Drexel Burnham Lambert, Shearson Lehman Hutton, Lehman Brothers Kuhn Loeb, and Merrill Lynch. Mr. Mendenhall, meanwhile, holds 26 years of securities industry experience. Based in Houston, he has been registered as a broker with USCA Securities since 2010 and as an investment advisor with US Capital Wealth Advisors since 2021. His past registrations include USCA RIA LLC, UBS Financial Services, Merrill Lynch, and Painewebber. (Information current as of November 13, 2023.)

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