Last Updated: May 2025 — Chicago, IL
Here’s what you need to know about Chicago, IL, stockbroker Charles Garrido:
- Name: Mr. Charles Henry Garrido
- Current Employer: A.G.P. / Alliance Global Partners
- Prior Employers: McDonald Partners LLC, David A. Noyes & Company, McDonald Investments Inc., Merrill Lynch, Shearson Lehman Brothers
- Primary Location: Chicago, IL
- DBA: Garrido Wealth Management
- CRD Number: 1191231
- Aliases: Charles Garrido
- Function: Stockbroker / Registered Investment Advisor
- Can Charles Garrido be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $777,062 FINRA arbitration award
- Pending Customer Dispute Seeks Damages of: $150,000
If you’ve sustained damages from Mr. Garrido, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money with Charles Garrido as Your Stockbroker?
A FINRA arbitration panel ordered Charles Garrido and McDonald Investments Inc., jointly and severally, to pay $678,633 in compensatory damages, $82,816 in attorney’s fees, and $15,613 in costs following a December 2004 award. The case, NASD No. 04-00385, alleged breach of fiduciary duty, constructive fraud, misrepresentations, omission of fact, and unsuitable recommendations involving stocks. The total monetary award amounted to $777,062.
In another case in September 2002, a $32,500 settlement was paid to a customer who alleged unsuitable investments and failure to follow instructions.
Currently pending FINRA arbitration (Case No. 24-02719), filed by a customer of A.G.P./ Alliance Global Partners, alleges a lack of due diligence in recommending the purchase of GWG L Bonds, and seeks damages of $150,000. The case was filed in December 2024.
Allegations of Broker Misconduct Against Charles Garrido
Customers of Charles Garrido have brought forth several serious allegations involving his conduct, including:
- Breach of fiduciary duty
- Constructive fraud and omission of material facts
- Misrepresentations and unsuitable investment recommendations
- Failure to follow client instructions
- Lack of due diligence in recommending debt securities (L Bonds)
These allegations, especially regarding unsuitable investments and breach of fiduciary duty, may involve violations of FINRA Rule 2111 (Suitability), which requires brokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer based on their investment profile. In addition, FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) may be applicable in cases involving misrepresentation and failure to disclose material facts.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Charles Henry Garrido, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.