Walter Parker (CRD #: 2131232), an investment adviser registered with Titan Securities in Addison, Texas, is facing investor allegations of sales practice violations and unjust enrichment, according to his IAPD record, accessed on January 26, 2021. This is his 15th investor dispute, which is an exceptionally high number of disputes. Only 7% of registered investment advisors have misconduct disclosures, and an even smaller percentage are repeat offenders.

Pending Investor Disputes:

  • On December 14, 2020, an investor alleged that that Walter Parker violated state securities statutes, engaged in gross negligence, and received unjust enrichment. The investor further alleges that Parker failed to supervise. The investor is seeking $81,000; the dispute is pending.
  • On December 10, 2020, an investor alleged that Walter Parker engaged in fraudulent concealment and engaged in common law fraud. The investor further alleged that Parker was negligent and made misrepresentations. The investor is seeking $100,000; the dispute is pending.

Regulatory Action Taken Against Walter Parker:

On April 18, 2018, Walter Parker entered into an Acceptance, Waiver, and Consent agreement (AWC) agreement with the Financial Industry Regulatory Authority (FINRA), in which he consented to the findings that he made unsuitable investment recommendations. FINRA alleged that Parker recommended that an investor should use her retirement nest egg to invest in illiquid, alternative investments that came with a huge amount of risk. He allegedly did this in spite of his investor’s lack of investing experience. According to the AWC, the investor had to return to full-time employment to cover her losses. As part of the terms of the AWC, Parker consented to a $7,500 fine and a one-month suspension. You can read a copy of the AWC here.

Investor Disputes: Misrepresentation

On August 21, 2019, an investor alleged that Parker misrepresented certain securities and did not inform them that certain securities could stop paying out distributions. The investor sought $25,000; the dispute settled for $10,000.

Investor Disputes: Allegations of Negligence

  • On July 31, 2019, an investor alleged that Walter Parker engaged in negligence as well as negligent supervision. The investor sought $55,000; the dispute settled for $10,000.
  • On February 28, 2019, an investor alleged that Walter Parker engaged in negligence, breached his contract, and made material misrepresentations. The investor is seeking $270,000; the dispute is pending.

Investor Disputes: Real Estate Investment Trusts (REITs)

  • On June 17, 2019, an investor alleged that Walter Parker engaged in fraud and breached his contract regarding a REIT called United Development Fund IV. The investor is seeking $200,000; the dispute is pending.
  • On November 15, 2017, an investor alleged that Walter Parker recommended unsuitable REITs. The investor sought $54,328.54; the dispute settled for $15,000.

Investor Disputes: Unsuitable Investment Recommendations

  • On October 17, 2018, an investor alleged that Parker made unsuitable investment recommendations. The investor sought $85,000; the dispute settled for $37,991.23.
  • On July 24, 2018, an investor alleged that Walter Parker made unsuitable investment recommendations. The investor sought $183,691; the dispute settled for $9,850.
  • On October 11, 2017, an investor alleged that Parker recommended and unsuitable investment recommendations. The client sought $300,000; the dispute settled for $118,000.
  • On May 25, 2017, an investor alleged that Walter Parker recommended an unsuitable, illiquid investment. The investor sought $37,119; the dispute settled for $37,119.
  • On August 12, 2016, an investor alleged that Parker recommended an unsuitable product and did not explain the risks. The dispute settled for $70,000.
  • On July 8, 2016, an investor alleged that Walter Parker recommended an unsuitable investment. The investor sought $50,000; the dispute settled for $16,500.
  • On November 2, 2015, an investor alleged that Parker recommended an unsuitable investment and made misrepresentations. The investor sought $211,974.64; the dispute settled for $60,000.

Walter Parker has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, the Series 6 Investment Company Products/ Variable Contracts Representative Examination, and the Series 24 General Securities Principal Examination. He is a registered investment adviser in Texas.

During his 29 years in the securities industry, Walter Parker has registered at 7 firms:

  • Titan Securities (CRD #: 131392)
  • ING Financial Partners (CRD #: 2882)
  • BTS Asset Management (CRD #: 105215)
  • Locust Street Securities (CRD #: 1703)
  • BMA Financial Services (CRD #: 7943)
  • Fortis Investors (CRD #: 421)
  • H.D. Vest Investment Securities (CRD #: 13686)

If Walter Parker was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for a free case consultation with a securities attorney.

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